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: $100,000 to $20,000,000 Rates: From Prime + 1% Collateral: • Accounts Receivable • Inventory • Machinery & Equipment Loan Purpose: Working Capital, Debt Restructuring,…
Commercial Mortgage 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 Investment Properties & Owner Occupied Loan Amounts: $300,000 to $15 Million Rates &…
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: $50,000.00 to $10,000,000.00 Rates: 4% Term: Up to 2 years…
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: $250,000…
Residential Mortgage These products are provided by an affiliate that is a licensed, bonded and insured residential mortgage banker nationwide. Their products include: Jumbo 1st Mortgages on primary, secondary properties and investments on 1-4 Family residential properties No Income Verified Limited Doc Competitive Primary Residential Full Doc Mortgages Loan Amounts:…
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: $250,000.00 to $5,000,000.00 Rates: Prime + 2 – 2.75%…
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: $250,000 to $40 Million Rates: From 4.5% to 5.75% at 5 - 10 years, fully amortizing Equipment Types: Rolling Stock Yellow Steel Buses All…