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For all borrowers, the following terms typically apply for
EFG Loans:
| Size |
Up to $100 million |
| Interest and Loan Fees |
Commensurate with risk. |
| Term to Maturity |
2 years with 2 additional
1-year extension options. |
| Loan to Value |
Up to 50% for an unimproved
site, or 75% for an improved site, "as is - as clean"
(as currently entitled, as if it were clean). |
| Loan to Cost |
Negotiable |
| Repayment Schedule |
Loans are interest-only. Interest
payments are made monthly or an interest reserve may be
built into the loan amount. |
| Prepayment Penalties |
Yield maintenance, first year
only |
| Loan Costs |
Examples: EFG's legal costs,
title, third-party reports, environmental insurance and
the like. |
| Deposit for Cost |
Generally 1% |
| Controlled Disbursement |
EFG will require controlled
disbursement of its funds during remediation, construction
or as needed. |
For a printable version of the above terms, please click
here.
To better understand if you qualify for an EFG loan, please click here:
Pre-Qualification
Information.
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