Verus Capital Group Bridge Loans & Hard Money

[bridgeman]

We are direct with a publicly traded trust commercial short term lender that provides bridge loans secured by commercial real estate throughout the country. -Property types include (multifamily, office, retail, student housing, senior living facilities, warehouse/industrial) -Minimum Loan Size: We typically like to see deals above $2M and we can go as high as $40M, but we will also look at smaller deals in New York and New Jersey (minimum $1M) -LTV can vary depending on the borrower and the collateral. We will go as high as 90% but would prefer to be at 80% or less -Debt Service Coverage Ratio – We don’t have a requirement -Occupancy – We don’t have a requirement. Again depends on the borrower and the collateral. -Credit Score – We like for the borrowers score to be above 600 but again depends on the borrower and the collateral. Most borrowers who come to us don’t have great credit. -Bankruptcies and foreclosures are not always deal breakers. -We only issue a commitment after we do our due diligence (which means getting a deposit from the borrower, visiting the property, and meeting the borrower) and take the loan to loan committee. - We do not need an appraisal but if a borrower has one it is always helpful - We do require an environmental report - Our loans are full recourse Interest Rate: 13% Term - 12 months (with the possibility of extensions) Origination and Commitment Fee – 2 to 4 points Recourse – Full or Walk-Away Guaranty Exit and/or Prepayment Penalties

[Byronking]

I heard that it is very expensive process.