Fast, Reliable, Non-Recourse Bridge Loans Nationwide

George Smith Partners is originating non-recourse loans up from $5,000,000 to $40,000,000 for a national specialty bridge lender.  Leverage ranges from 75% to 85% LTC plus 100% of good news dollars and interest reserve for deals below break-even debt coverage at close. Interest is not charged on funds until drawn and there is typically no origination fee, but there is an exit fee which demonstrates the lender’s commitment fund as many dollars toward the reposition as possible vs. discounting proceeds with hold backs.  Typically terms are three years with (2) one year extensions.  Yield Maintenance burns off after 12 months after the loan. Rates start at LIBOR+5.00% and loans can close in as fast as 30 days.   With a 16 year track record, our capital provider provides certainty of execution.