Dax Dickson

I would enjoy hearing from any finance specialists or Realtors on the activerain network.

Do you have questions about commercial mortgage loans?

Do you have questions about analyzing commercial income properties?

Do you have any other commercial topics you would like to learn more about?

If you have questions please ask.

I am looking forward to interacting with more activerain users and consumers.

Potential Topics: Debt Service Coverage Ratio (DSCR), SBA Loans, What is required for a commercial loan, etc.

The topics are endless!

Dax Dickson

Owner

The Commercial Finance Store, LLC.

SBA 7A Loans



SBA 7A loans are variable rate with a maximum allowable rate of P+2.75%. They are used primarily for financing company operations, equipment, inventory, and accounts receivable, but may be used to finance real estate. Features of the program are:

·The maximum amount has been increased from $2,000,000 to $4,000,000

·The gross receipts qualifying level of $7,000,000 has been removed. Companies must have book net worth of $8,500,000 or less, and after tax income of $3,000,000 or less.

·The 2%-2.5% guarantee fees have been waived.

·The loan to value is 90% of discounted collateral, with upward exceptions sometimes made.

·The SBA is now insuring lenders up to 90% of the loan amount

·There is no prepayment penalty.

If you need help securing financing for your business, contact us. We will help you from writing your business plan to closing your business loan.

Dax Dickson

The Commercial Finance Store

Serving Minneapolis / St Paul MN and surrounding areas

612-578-9898

We also can help facilitate your commercial real estate mortgage loan needs from construction financing to securing the long term mortgage debt on existing properties owned.

Investor Rehab Loan

Simple and Fast Way to finance Bank Owned REO Properties in the Twin Cities, MN Metro


LIST OF ITEMS REQUIRED TO UNDERWRITE A

REHAB LOAN



Required Documentation:





1. A PERSONAL FINANCIAL STATEMENT (PFS) FOR EACH PARTNER with an interest of 20% or more.



2. BANK STATEMENTS and ASSET STATEMENTS for any and all accounts listed on the PFS



3. LAST 3 YEARS' TAX RETURNS (business & personal) for each partner with an interest of 20% or more in the project.



4. COPY OF FULLY EXECUTED PURCHASE CONTRACT.



5. SWORN CONSTRUCTION STATEMENT including hard and soft costs.



6. BACKGROUND/BIO ON EACH PARTNER emphasizing development/construction/renovation/real estate experience and past projects successfully completed.



7. PERMISSION TO RUN CREDIT REPORT(S): (FOR EACH PARTNER WITH AN INTEREST OF 20% OR MORE).



General Loan Requirements:



1. Minimum 660 FICO score

2. If rental, minimum 1.25 Debt Service Coverage Ratio (DSCR)

3. If using DTI, maximum of 45%

· Can blend with global calculation

4. If DTI and DSCR do not work we can use marketing plan and pledge payment reserves to bank

5. Six months reserves

6. Purchase plus construction = X, Loan amount = 80% of X



*** The documents listed above are the documents we require to evaluate the borrower and issue a pre-approval. Every deal is different so the bank may require some additional documentation or clarification. ***

In the Minneapolis and St Paul, MN Metro all Rehab Mortgage Loan questions are being answered by Tim Jochim. He is our experienced Rehab Construction Loan expert!

Tim Jochim 612-702-1111

Venture Capital hybrid in Minneapolis Mn and elsewhere.

Many companies can not get the VC money they need for start ups. If you have some collateral to inject into the deal we want to talk to you. It can range from art, gold coins to real estate but if you have something of yours (Skin) to throw in the deal we may be able to help.

By definition this is what Venture Capital means:

Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company.

Earlier we mentioned collateral and this some what goes against the definition. However, we take a blend of both shares in your business and collateral. If you is not enough to get what you need to enter the market or increase your market share both may work.

If you have both collateral and a strong business plan that you have not been able to fund please contact our team.

Dax Dickson
612-578-9898

Apartment Loans

Business Loans

Here in the Minneapolis and St Paul Metro area community and national banks love apartment buildings and they consider them a great asset. What you have been hearing on the news, "With the current credit crisis there is no money to lend" is not true. For those experienced investors there is an abundance of money to lend to qualified, experienced real estate investors.

If you need:

- Refinance loans on currently owned apartment buildings

- Construction financing to either build new or rehab existing apartment buildings

- Purchase mortgage to buy a cash flowing apartment building

In the Minneapolis or St Paul, MN metro area there are plenty of banks to work with.

We can help you or your client analyze the debt service coverage (DSCR) or cash flow of an existing or new apartment complex. Our team can also help direct you to the national or community lender that can fund this deal and make it reality.

If you need additional information about apartment consulting or loan financing feel free to contact our team!

Dax Dickson

The Commercial Finance Store

Located in St Paul, MN

Serving the Minneapolis and St Paul, MN Metro area!

612-578-9898