Property Types

Mixed-use properties must contain at least one commercial unit (retail, office etc.) and at least one residential unit. Common types of mixed-use properties include a ground floor retail or office unit with apartment(s) above, all within the same building. The primary use at the property must be for residential purposes in order for it to be considered Tier I mixed-use. The mixed-use property type can be classified in any tier depending on the percentage of the multi-family component and the type of commercial use.

Structures containing five or more dwelling units with common area facilities such as entrances, lobby, elevators, stairs, mechanical space, walks or grounds. Units must be rented on a non-transient basis such that tenants consider their unit their permanent residence. Properties that offer weekly or monthly housing would not be considered multifamily properties.

Automotive is a somewhat broad category and encompasses a variety of uses that support the automotive segment. Included within this category are auto repair shops, new and used car lots or dealerships, quick-lube facilities, tire repair shops, body shops etc. The type and size of the building will vary with the use. Many buildings are designed specifically for the auto trade characterized by overhead doors, car lifts and usually a small office area.

Bed and Breakfast inns are residential-type buildings designed for transient boarding and are family style in character. B & B inns are usually one structure but some may include an adjacent guest cottage with similar quality amenities as the main unit. The property must be a traditional B&B, which is typically a converted period era residence. Properties which contain cabins, cottages, or bungalows, or those that are small motels or others that do not fit the true theme of a B&B will be considered un-flagged hospitality (Tier IV). The owner of the B&B does not have to live on-site.

Light industrial is characterized by a small size facility where no heavy manufacturing or specialized industrial process takes place. Office space within light industrial ranges from 3% to 25% of the total area. Buildings must include sufficient plumbing and lighting to accommodate personnel. Common uses found in light industrial properties may include: cabinet making, assembly processes, home service industries, etc. Absent from these properties is any type of heavy machinery, welding operations, cranes or hazardous materials.

Mixed-use properties must contain at least one commercial unit (retail, office etc.) and at least one residential unit. If the primary use at the property is for commercial purposes, the property will fall under our mixed-use Tier II guidelines. The mixed-use property type can be classified in any tier depending on the percentage of the multi-family component and the type of commercial use.

Mobile home parks are considered as long as not more than 25% of the total spaces are used for RV. Mobile home parks vary in quality and amenities and all will be considered unless the RV component is too high.

Office buildings are buildings designed for general commercial occupancy and are normally subdivided into smaller units. Office use implies a general business use that does not include retail, manufacturing or warehouse type operations.

Retail buildings are designed for retail sales and display and usually have display or decorative fronts. This retail classification encompasses a wide variety of uses including, but not limited to: markets, convenience stores, drugstores, department stores, big box retailers, barber shops, laundromats, etc.

Mini-warehouses are warehouses subdivided into a mixture of cubicles of generally small size, designed primarily to be rented for small self- storage or noncommercial storage and may include some office-living space.

Warehouse buildings are designed primarily for storage purposes. An amount of office space included is usually commensurate with the quality of the building but typically ranges from 3% to 12% of the total area. Plumbing and lighting are usually limited due to anticipated light personnel load. The design of the building usually includes a light frame with large open interior areas. Cold storage and transit warehouses (truck terminal) are included in this category.

Hotels with national franchise affiliation are considered "flagged." Hotels must be in good standing with their affiliated franchise to maintain this tier.

Funeral homes include those used for viewing purposes as well as those that include embalming services.

Where the principle structure is designed for manufacturing processes, heavy assembly or involves the use of heavy machinery. It contains an average amount of office space commensurate with the quality of the building and the intended use. Their heavy frames, walls and floors, specialized manufacturing processes and power or utility-service characterize industrial facilities.

Rooming houses are similar to that of multifamily but the nature of the occupancy is more transient. Rooms are rented on a daily, weekly or monthly basis and usually only include a bedroom. The residents share the bathroom and the kitchen. Rent paid usually includes all utilities and units may be furnished. Most rooming house properties contain less than 20 units.

We can help you purchase a new church, refinance your existing loan, help you obtain money to expand your church, or even help to construct a day care facility or school. We provide long term 15, 20 and 25 year fixed rates. Will loan up to 80% of appraised value or 4 times gross plate collections. These loans come with NO personal guarantees.

Day Care Centers are early childhood, handicapped, adult, and senior care facilities; or developmental centers, such as kindergartens, nurseries or children's preschools. They have light kitchen facilities, activity rooms and multiple restrooms, and are more residential in character than schools.

Gas stations are automotive properties or any other property that dispenses any amount of fuel for retail sale. They may have an auto mechanic, convenience store and / or car wash component.

Included in this category are all Assisted Living or Nursing Home types of operations where a license is required to operate the business. Quality and service levels vary considerably. Also included in this category are hospitals and medical treatment facilities, such as out patient care or walk-in emergency medicine.

Restaurants are constructed for the purpose of preparation and sale of food and/or beverages, which include cafeterias, bars, and taverns, where design is of restaurant type.

RV parks are those that are designed for recreational vehicles. May include mobile home pad rentals but will be considered an RV park if 25% or more of total park is for RV. Transient type occupancy is common.

Hotels or motel properties with no national franchise affiliation are considered "unflagged." "Mom & Pop" style operators typically run these types of facilities and the quality and level of service varies considerably.