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George Smith Partners is working with a National Institutional Capital Provider lending on single tenant assets for owner/users or investors on a non-SBA platform. Public companies rated BB (S&P) or better will be underwritten with amortization schedules co-terminus with the lease. Private or unrated companies will be rated by the credit officer upon presentation of corporate financials. Rates are fixed for three years at 6% then re-set based on the credit quality of the tenant. Cash flow sweeps may be structured to provide additional funds at close to break below the standard 1.20 debt coverage requirement for this non-recourse loan.
