Mill City Corporation - Lending Programs

"Hard Money" and Non-Conforming Loan Program
FUNDING IS AVAILABLE FOR B, C, & D LOANS FIRST and SECOND MORTGAGES COMMERCIAL FORECLOSURE BRIDGE FINANCING ASSET BASED LOANS / ACCOUNTS RECEIVABLES SUPER JUMBO BAILOUTS TYPES OF PROPERTIES
Strip Malls Office Buildings Mixed Use / Multifamily Retail - anchored & unanchored	Industrial Non profits Auto industry Restaurants Vacant land
TERMS Maximum LTV - 90% Rate term quoted within 48 hours Closing expedited per finance type Minimum loan: $500,000

Owner-User Loans
Business acquisition, refinance, inventory, renovation, expansion, equipment and working capital loans. TYPES OF PROPERTIES
Industrial, medical and office condos Freestanding commercial and industrial buildings Franchises	Auto related industry - gas stations, auto body shops, mechanics Restaurants Marinas
TERMS Up to 25 years term and amortization 90% LTV for owner occupied property Minimum loan size - $250,000 Construction financing available AREA National - United States: $250,000. minimum International: $8,000,000. minimum Borrower with experience required

Office Lending Program

LOAN TYPE: Fixed, permanent first mortgages, construction funding and take out available.
LOAN AMOUNT: $500,000. minimum
INTEREST RATE: Based on corresponding Treasuries, or LIBOR, per underwriting.
TERM: 30 year maximum, preferably self amortizing transactions.
AMORTIZATION: 30 year maximum.
Loan-to Value: 90% maximum (up to 90% LTV).
DEBT COVERAGE: 1.25, except for single buildings leased to strong credit tenants.
RECOURSE: None, with usual carve outs.
PREPAYMENT: Based on yield-maintenance formula or decreasing prepayment available.
ASSUMPTION: Typically 1% of cost, with approval.

Funding available for construction, and acquisition loans, standby commitments, joint ventures and permanent debt.

Industrial / Warehouse Lending Program

CONSTRUCTION, ACQUISITION AND GAP LOANS LOAN TYPES: Fixed and floating rate, acquisition, construction and permanent first mortgages. Immediate and forward delivery programs are available.
LOAN AMOUNTS: $500,000. minimum
INTEREST RATE: Based on corresponding Treasury or LIBOR rates. There is a strong demand for industrial properties, and underwritten accordingly.
TERM: 5 to 30 years, per underwriting. Construction yearly renewable.
AMORTIZATION: Up to 30 years.
LOAN-TO-VALUE: Up to 80%.
DEBT COVERAGE: 1.05x minimum.
RECOURSE: None, except standard carve outs.
ASSUMPTION: Possible.

Funding is available for standby commitments, joint ventures, permanent debt, acquisition, refinance and construction.

Hospitality / Recreational Facility Financing
TYPES OF PROJECTS
Hotels Motels Bowling Alleys Skating Rinks	Amusement Parks Auto Tracks Stadiums Golf Courses
RESORT FINANCING Timeshare/vacation ownership resorts Lot sales Vacation clubs RV campgrounds COMPREHENSIVE PROGRAMS First Mortgage and Inventory Financing End Loan Receivable Financing National & International (per underwriting) AVAILABLE Construction Acquisition Refinance Long term amortization possible High LTV, participation or Joint Ventures possible Minimum loan - $500,000.