So you always know what to expect
we don't like confusing our clients with industry lingo, so we'd like to try giving you the basic answers before you ask the questions.
Frequently Asked Questions
LOAN PROGRAMS
What are Professional Capital Partners' (PCP) basic program terms?
Coverage – Nationwide
Property Types – Multifamily, SPEC Home, Commercial, Storage Units, Mixed-use
Because we have a multitude of funding relationships, each program is unique. The terms of each program will custom tailor to each client's needs.
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What are PCP’s credit score requirements? Underwriting includes review of the borrower’s history at repaying other debts. Thus, credit scores are an integral part of our programs. Higher credit scores allow better rates and/or higher loan-to-value ratios while lower scores may impact the borrower’s ability to obtain financing. Here at Professional Capital Partners, we are big picture people. A credit score only tells part of the story...we want to know about your total financial history. This allows us to fight for your best interest when dealing with all funding sources and lenders.
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What are PCP’s minimum and maximum loan amounts? Commercial real estate loan from $250,000 to $100 Billion.
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What loan types does PCP offer? This varies by property type but PCP offers fully-amortizing loans, as well as several term options based on each unique situation:
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Does PCP do blanket loans? We have lenders who specialize in blanket mortgages on a case-by-case basis. We do not cross-collateralize with residential property such as a primary residence.
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PROPERTY TYPES
What property types does PCP fund? We fund most commercial property types including Multi-use (office, retail, industrial, warehouse), Multifamily (minimum 5 units), hotels and SPEC Homes.
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What is an investment property? A property would be considered as an investment if it is 100% leased to tenants that are unrelated to the owner, or the owner’s business occupies. Also known as a non-owner occupied asset.
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Does the Letter of Intent (LOI) include all the loan terms and estimated costs?Yes. All LOI's that we recieve provide details of the transaction including the estimated costs.
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Who pulls the credit report? We recommend that you submit your own tri-merge credit report to us.
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CDCs
What is a CDC? A CDC is a Certified Development Company that is authorized to do business with the Small Business Administration (SBA). CDC involvement is required on all SBA 504 loan requests.
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How do I find a CDC? On an SBA 504 transaction, we will locate an experienced CDC and have them contact you to expedite the SBA application process.
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CLOSING
How long does it take to close a commercial loan? Timeframes vary depending on the loan program selected and the degree of cooperation from the Borrower in providing the required documents. Also keep in mind that the appraisal report will typically take 3 to 4 weeks to complete. A typical conventional loan may close in about 30 days if all requested documentation is provided within 10 business days of pre-approval. Construction and/or SBA 504 loan requests are a minimum of 45 days.
Back to top
What are Professional Capital Partners' (PCP) basic program terms?
Coverage – Nationwide
Property Types – Multifamily, SPEC Home, Commercial, Storage Units, Mixed-use
Because we have a multitude of funding relationships, each program is unique. The terms of each program will custom tailor to each client's needs.
Back to top
What are PCP’s credit score requirements? Underwriting includes review of the borrower’s history at repaying other debts. Thus, credit scores are an integral part of our programs. Higher credit scores allow better rates and/or higher loan-to-value ratios while lower scores may impact the borrower’s ability to obtain financing. Here at Professional Capital Partners, we are big picture people. A credit score only tells part of the story...we want to know about your total financial history. This allows us to fight for your best interest when dealing with all funding sources and lenders.
Back to top
What are PCP’s minimum and maximum loan amounts? Commercial real estate loan from $250,000 to $100 Billion.
Back to top
What loan types does PCP offer? This varies by property type but PCP offers fully-amortizing loans, as well as several term options based on each unique situation:
Back to top
Does PCP do blanket loans? We have lenders who specialize in blanket mortgages on a case-by-case basis. We do not cross-collateralize with residential property such as a primary residence.
Back to top
PROPERTY TYPES
What property types does PCP fund? We fund most commercial property types including Multi-use (office, retail, industrial, warehouse), Multifamily (minimum 5 units), hotels and SPEC Homes.
Back to top
What is an investment property? A property would be considered as an investment if it is 100% leased to tenants that are unrelated to the owner, or the owner’s business occupies. Also known as a non-owner occupied asset.
Back to top
Does the Letter of Intent (LOI) include all the loan terms and estimated costs?Yes. All LOI's that we recieve provide details of the transaction including the estimated costs.
Back to top
Who pulls the credit report? We recommend that you submit your own tri-merge credit report to us.
Back to top
CDCs
What is a CDC? A CDC is a Certified Development Company that is authorized to do business with the Small Business Administration (SBA). CDC involvement is required on all SBA 504 loan requests.
Back to top
How do I find a CDC? On an SBA 504 transaction, we will locate an experienced CDC and have them contact you to expedite the SBA application process.
Back to top
CLOSING
How long does it take to close a commercial loan? Timeframes vary depending on the loan program selected and the degree of cooperation from the Borrower in providing the required documents. Also keep in mind that the appraisal report will typically take 3 to 4 weeks to complete. A typical conventional loan may close in about 30 days if all requested documentation is provided within 10 business days of pre-approval. Construction and/or SBA 504 loan requests are a minimum of 45 days.
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