Loan Programs
Pennant Financial works with small and middle market operating companies and real estate investors to provide financing from non-bank lending sources. We offer a full menu of loan programs whose rates are competitive with traditional bank financing.
At Pennant, our investors are business people who lend money and understand that not all business owners have bankable credit or want to use traditional bank financing.
Our goal is to match the clients' financing requirements with our best available loan programs.
Flexible Business Financing Solutions
Business Line of Credit | Asset-Based Loans
For operating companies that are highly leveraged or marginally profitable but possess strong A/R and Inventory.
Loan Sizes:
$100K to $20M
Rates:
From Prime + 1%
Collateral:
• Accounts Receivable
• Inventory
• Machinery & Equipment
Loan Purpose:
Working Capital, Debt Restructuring, Leveraged Acquisitions, Turn Arounds, Chapter 11 Financing, Season Shortfalls, Expansions
Customer Base:
• Manufacturers
• Distributors
• Service
• Medical
• Consumer A/R not available
Underwriting:
• 85% advance on A/R
• Up to 50% advance on Inventory
• Majority of advance must be on A/R
• High debt to worth ratios are acceptable
Specialty:
Highly leveraged companies, tight cash flow, personal credit problems, tax liens, declining sales trends, rapid sales growth. We also provide mortgage financing in conjunction with lines of credit.
Commercial Mortgage Investment Properties & Owner Occupied
For investment or owner occupied commercial real estate that is not desirable for the banks. Pennant has underwriting that is more flexible because this is a non bank credit company. There is no prepayment penalty.
Loan Amounts:
$300K to $15M
Rates & Terms:
From 4.5% with 7, 10 and 15 year terms, 30 year amortization
Property Types:
Office, Industrial, Retail, Multi-Family, Mobile Home Parks, Assisted Living, Nursing Homes,Convenience Stores, Auto Service Facilities, Grocery Stores and Funeral Homes
Underwriting:
75% LTV
1.2 Debt service coverage. Will do “storied credits” with a proven turnaround in place. Strong guarantors required.
Commercial Bridge Loans
For transactions that need a short-term boost in order to advance to their desired goal. Our lender must be convinced of the exit strategy and the ability to have the debt serviced during the term.
Loan Sizes:
$250K to $10M
Rates:
4%
Term:
Up to 2 years / Interest Only
No Prepayment Penalty
Collateral:
Commercial Real Estate
Secondary Collateral:
Residential / Investment Real Estate, Accounts Receivable, Inventory, Machinery & Equipment
Loan Purpose:
Working Capital, Debt Restructuring, Rehab or Acquisition
LTV:
65% Maximum
Underwriting:
• Primarily based on Collateral Value
• Credit score minimum 500
• No income verified allowed
• Judgements, tax liens paid at closing
No Doc Commercial Mortgage
For investment or owner-occupied commercial real estate that doesn’t comply with traditional bank underwriting. The credit score of the sponsor is the KEY ELEMENT for this nationwide program. This program is ideal for cash only businesses.
Transactions:
Purchase or Refinance (Rate/Term & Cash-out)
Loan Size:
$250K to $5M
Geography:
Nationwide
Property Types:
Single, Multi-Family Use, Office, Retail, Warehouse, Self-Storage, Automotive Services
Loan terms:
30-year term / 30-year amortization
Rates:
7.5% – 9.5% based on building type and FICO
Ratio to DSC:
1.2
Loan-to-Value:
75%
Underwriting Criteria:
650 Credit Score Minimum and Appraisal
Small Business Financing
Small Business Administration (SBA) loans are small-business loans guaranteed by the SBA (an autonomous U.S. government agency) and issued by participating lenders, mostly banks. Pennant is affiliated with the largest NONBANK SBA PREFERRED LENDER PROGRAM ISSUER.
Loan Amounts:
$250K to $5M
Rates:
Prime + 2 – 2.75%
Term:
Up to 25 years, fully amortizing
LTV:
Up to 90%
Security:
Owner Occupied Commercial Real Estate, Machinery and Equipment
Business Types:
Auto Repair, Gas Stations, Restaurants, Retail, Rural Business, manufacturing or any worthwhile business
Machinery and Equipment Loan
This is for companies that are capital equipment intensive who can demonstrate the ability to service a short term obligation.
Loan Amounts:
$250K to $40M
Rates:
From 4.5% to 5.75% at 5 – 10 years, fully amortizing
Equipment Types:
- Rolling Stock
- Yellow Steel
- Buses
- All Factory Machinery
Full Recourse Underwriting:
1.2 Debt Service coverage