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Program Highlights
- Up to 90% LTV (Loan-to-Value)
- Intended for owner occupied properties (No minimum occupancy rate)
- Aggressive common sense underwriting
- Pre-qualification services available at no extra cost
- Super-fast approvals and loan closings
- Direct Lender
Use of Funds
- Commercial Real Estate purchase
- Refinancing with cash out for business purpose
- New construction and/or renovation
- General purpose industrial, office or retail properties
Perfect for Clients who:
- Want to reduce costs compared to SBA financing
- Want SBA benefits without all the hassle
- Have exhausted their SBA lending availability
- Are ineligible for SBA loan programs
- Have experienced credit problems and/or financial performance issues
- We can do Non-Profit Organizations!
Loan Amounts
- From $100,000 to $20 Million (in some cases larger!)
- Can be used in conjunction with 7a and 504 programs to expand transaction size Terms
- Up to 25 years fully amortized
- No Balloon Payments!
Interest Rates
- Fixed and Adjustable rates available
- Industry's lowest and easiest to understand Pre-payment Premium language
- Competitive case based pricing Origination Fees
- Purchase and Refinance 1% Collateral
- First trust deed on commercial real estate
- No liens on business assets or personal residences
- Business condos, Hi-Tech Co's, contractor lots, older buildings ,and auto-repair facilities.
Finance Express Program
Daniel, Russell & Charles Co. established the Finance Express Program to deliver a service to its clients that are efficient and helpful in expediting the underwriting processes used in business finance transactions. DRC's Express Program was setup to handle the financing requirements of small businesses and corporations that might otherwise have a need for operating capital that could range from $100,000 to $20,000,000. The Program's guidelines and underwriting criteria covers what may be classified as the A+ to C borrowers and that may have a loan-to-value as high as 80% to 90% as an integral part of the Debt Coverage Ratio.
Commercial Express Program
The Commercial Express Program is an extension of the Finance Program identified above. This program is designed to handle projects that are exclusively linked to the construction and/or maintenance of apartment buildings, strip mall centers, shopping centers with anchor tenants, office buildings, medical centers, and manufacturing facilities, provided they are not generally considered to represent single purpose use. However, from time-to-time DRC will consider such projects on a case-by-case basis).
Generally, DCR will consider income producing commercial properties that have adequate debt coverage. In addition to DRC programs, its affiliate and associates relationships with numerous investor groups throughout the country that will underwrite and fund various projects of any size that we might engage. DRC offers the following types of loans and services:
- Multifamily
- Retail Properties
- Office Properties
- Heavy and Light Industrial Buildings
- Hotel Properties
DRC's Commercial Express Program is designed to simplify the process while giving you, the originator, a response in record time by submitting a few basic items. If you are interested in any one or a combination of our financing services, please carefully consider the enclosed items for completion to start the process of the Express approval.
In addition, DRC's Business Planning service is pleased to offer the following loan products:
Owner-User Commercial Real Estate Purchase, Refinance, and/or Construction Loans:
Whether it's to buy an existing building or to construct a new building, businesses with growing sales trends need not demonstrate historical debt service ability-they need only to show a .75 debt coverage ratio for the last twelve months ending a specified date in time. Real estate loan transactions may include construction financing provide that there is a permanent loan that has been approved. For real estate purchase transactions that might involve a current business owner, the 10% down payment may be borrowed--plus DRC will add all closing costs. In these types of transactions, the business must occupy at least 51% of the building. Loans are provided from $100,000 to $25,000,000.
Business Acquisition:
DRC can provide up to 85% of the financing costs for a Buyer, which equates to a Seller walking away with more cash up-front. We will finance up to 100% of goodwill. On loans of $1MM or under, no minimum collateral value required. Loan terms are 10 years without real estate or 25 years with real estate. We consider loans of $100,000 to $2,000,000.
Partner Buyout:
DRC can provide up to 100% of financing for a partner's buyouts. This type of transaction is based on a 10 year term for loans of $100,000 to $2,000,000 ( 25 year term that might involve real estate).
Equipment Financing:
DRC can provide 90% financing for equipment purchases for a term of 10 years. Financing is available for Capital equipment that is used in the business, which excludes transactions that might otherwise involve licensed vehicles and/or rolling stock. We consider loans of $100,000 to $2,000,000.
Franchise Financing:
DRC can provide up to 85% of financing for startup franchises or the purchase of an existing Franchise business. This type of transaction has a term of 10 years (25 year term with real estate). We consider loans of $100,000 to $2,000,000.