SBA 504 Interim Loans
Aileron works with other first mortgage/deed of trust lenders by providing short-term, second mortgage/deed of trust interim loans, to bridge the gap between the initial closing and SBA debenture funding. The following are the terms under which Aileron provides this type of financing:
|Property Types:||All commercial property types|
|Loan Size:||Up to $5,000,000|
|Term:||Up to six months|
|Fees:||1% of loan amount, plus $1,000 admin and $2,500 for legal|
USDA and SBA 7 (a) Interim Loans
For banks and non-bank lenders that do USDA B&I and SBA 7 (a) loans, Aileron can provide bridge financing while the lender is waiting for settlement on the sale of the guaranteed piece. This program can be particularly helpful for smaller banks and non-bank lenders that either don't have the liquidity to fund larger deals. These loans are structured as participations, with Aileron typically sharing in the origination fee and interest on a pro-rata basis.
Commercial Bridge Loans
Aileron also provides short-term, first mortgage/trust deed loans on deals where the permanent take-out loan closing is imminent, but may not be in time to meet a deadline (e.g., expiration of purchase contract). In these cases, Aileron will provide a bridge loan for up to 120 days. As these deals each have their own unique characteristics, LTV and pricing are determined on a case-by-case basis.