Impower 95
A Better Alternative to SBA 504 or Traditional Loans for Commercial Real Estate Financing
Don’t qualify for an SBA 504 loan? No problem.
Don’t qualify for a Small Business Administration (SBA) or traditional bank loan? Looking to jumpstart a project in a census-designated low-to-moderate income zone? No problem! Our Impower 95 loan can provide a responsible and flexible way to purchase commercial real estate and build long-term equity.
Value to the Customer
Through our flexible terms and streamlined process we offer both small business owners as well as brokers, agents, and other lenders an excellent opportunity to purchase commercial real estate when other lenders say no.
- Opportunity for financing even if you do not qualify for an SBA 504 loan due to credit or eligibility issues
- Up to 95% financing and low or no minimum credit score.
- 1-2% origination fee (some may qualify for no origination fee and a credit for soft costs)
- Streamlined process — get approved in as little as 2 weeks from receipt of a completed application
- Interest-only repayment options to start your loan
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Impower 95 Terms & Highlights
| Impower 95 | Impower 95 <40% Occupancy | |
|---|---|---|
| Loan Type | Owner Occupied CRE | Owner Occupied CRE |
| Conventional 1st Mortgage | $250,000 to $5 million | $250,000 to $5 million |
| Rate | 10 year CMT +(4.5% to 5.5%) | 10 year CMT +(4.5% to 5.5%) |
| Property Types | Multi-purpose, Semi-generic, and Special-purpose | Multi-purpose, Semi-generic, and Special-purpose |
| Leasehold Improvements | 15% of project up to $500,000 | 15% of project up to $500,000 |
| Location | Multistate options | Multistate options |
| Debt Service Cover Ratio (DSCR) | 1.0 global Min DSCR of 1.15 on cash out refinance | 1.10 Global with at least 0.75 from operating business Min DSCR of 1.15 on cash out refinance |
| Loan to Value (LTV) | 95%; 90% for Semi-generic and 85% for Special-purpose Lower LTV maximums by 10% for cash out refinance | 95%; 90% for Semi-generic and 85% for Special-purpose Lower LTV maximums by 10% for cash out refinance |
| Occupancy | 40% by owner | Minimum 25% from operating business |
| Credit Score | No minimum credit score | No minimum credit score |
| Loan Origination Fee | 1-2% | 1-2% |
Property Types
Multi-purpose Properties
Examples of commercial properties may include: Office Space, Warehouse, Light Industrial, Retail, Wholesaling, Manufacturing, R&D, Medical, Dental, Veterinarian.
Special-purpose Properties
Examples of commercial properties may include: Gas Stations, Auto Dealers, Hotels, Restaurants, Car Washes, Amusement, Care Facilities, Storage Facilities.
Semi-generic Properties
Examples of commercial properties may include: Auto Dealers, Auto Repair, Restaurants, Child Care.
What else do you need to consider?
- Property must be at least 40% owner-occupied, exceptions considered on a case-by-case basis
- Show sufficient historical cash flow to make payments
- Consideration for start-up businesses that demonstrate two years of successful operating management experience in same industry; sufficient reserves for start-up working capital and six months of loan payments
