Debt & Equity
Capital Sources

Q: What does IMPACT do for commercial real estate borrowers?

IMPACT arranges debt and capital stack solutions for investors, developers, and owner-users across major CRE asset classes, with a focus on certainty of execution and disciplined process management.

Q: What are typical leverage and coverage benchmarks?

Stabilized assets commonly size to 70–80 percent LTV with DSCR around 1.20x–1.35x depending on asset class, market, and lender. Bridge and construction are constrained by stabilized NOI, debt yield, and business plan.

Q: How fast can a deal close?

Conventional bank and credit union loans often close in 30–45 days from a complete package. Bridge can close faster when reports are transferable or expedited. Construction and agency depend on diligence and approvals.

Q: What documents should I prepare up front?

Rent roll, trailing-12 and YTD financials, historical operating statements, borrower financials and tax returns, entity documents, business plan with capex budget and timeline, and any recent third-party reports.

Q: How do bank term loans compare to agency multifamily and CMBS?

Bank loans are relationship driven with flexible covenants and servicing. Agency multifamily offers attractive fixed rates, interest-only, and non-recourse for qualifying assets. CMBS can provide higher proceeds with more rigid documents and prepayment provisions.

Q: When is SBA 504 or 7(a) the right call?

For owner-occupied real estate, SBA programs can increase leverage and extend amortization, making them well suited for expansion, ground-up projects, and equipment-heavy uses.

Q: What prepayment structures should I expect?

Step-down schedules are common on bank loans. CMBS and agency often use defeasance or yield maintenance. Bridge loans may feature a short lockout and minimum interest provisions.

Q: Can I pull cash out on a refinance?

Yes, subject to LTV, DSCR, and seasoning or use-of-proceeds rules. Common uses include capex, partner buyouts, and acquisitions.

Why Our Clients Choose Us

Our dynamic team of highly skilled lending professionals are focused on delivering favorable outcomes, superior service, and fostering long-term relationships with clients.

Performance

We are client-centric and performance driven dealmakers. Your success is our success.

Specialization

We're seasoned lending professionals with thousands of loans funded.

Transparency

We provide a transparent engagement, diligence and closing process.

Certainty

Capitalize on more opportunities with greater certainty of execution.

INSIGNIA Financial Services seamlessly provides our clients fast, efficient access to a broad supply of CRE capital sources and loan types, including agency, bank, CMBS, credit union, debt fund, government-guaranteed, life company, and private lender capital. Leverage our expert guidance, certainty of execution, and a streamlined process.

Bank Loans

Bank Loans Banks remain a cornerstone of commercial mortgage financing, offering competitive terms for income-producing properties and construction loans for well-qualified borrowers.

Loan Amount: $500,000+
Typical Term: 5, 7, or 10 years
Interest Rates: Spread over UST or swap rate
Non-Recourse: Available

Credit Union Loans

Credit unions provide strong alternatives to banks, especially for smaller commercial real estate transactions, though they tend to focus on local markets.

Loan Amount: $250,000 to $10 Million+
Typical Term: 5, 7, or 10 years
Interest Rates: Spread over UST or swap rate
Non-Recourse: Not Available

Fannie Mae Multifamily Loans

Fannie Mae offers multifamily financing through various programs, including their Small Loans product, which is ideal for loans up to $9 million.

Loan Amount: $750,000 to $100 Million+
Typical Term: 5 – 30 years
Non-Recourse: Yes

Freddie Mac Multifamily Loans

Freddie Mac provides multifamily financing solutions through programs like the Small Balance Loan (SBL) program, tailored for properties with 5-50 units.

Loan Amount: $1 Million to $100 Million+
Typical Term: 5 – 10 years (Fixed)
Non-Recourse: Yes

CMBS Loans

Commercial Mortgage-Backed Securities (CMBS) loans suit stabilized assets, including office, retail, industrial, hospitality, and multifamily properties.

Loan Amount: $2 Million to $100 Million+
Typical Term: 5 or 10 years
Non-Recourse: Yes

Crowdfunding Loans

Crowdfunding platforms offer flexible financing options, including bridge loans, mezzanine debt, and construction funding, making them an emerging solution.

Loan Amount: $1 Million to $10 Million+
Typical Term: 1 – 3 years
Non-Recourse: Available

Debt Fund CRE Loans

Private debt funds have revolutionized commercial real estate lending, providing speed, flexibility, and diverse financing solutions for investors and developers.

Loan Amount: $1 Million to $100 Million+
Typical Term: 1 – 3 years
Non-Recourse: Available

FHA/HUD Multifamily Loans

HUD loans, while requiring extensive paperwork and longer approvals, are among the most reliable long-term financing options for multifamily properties.

Loan Amount: $3 Million to $100 Million+
Typical Term: 35 – 40 years
Non-Recourse: Yes

Life Insurance CRE Loans

Life insurance companies offer low, fixed-rate financing for stable commercial properties, favoring experienced sponsors and long-term projects.

Loan Amount: $2 Million to $100 Million+
Typical Term: 5 – 15 years
Non-Recourse: Yes

SBA Real Estate Loans

The SBA 504 and 7(a) programs provide government-backed financing to small businesses for property acquisition, development, or refinancing with high leverage options.

Loan Amount: $350,000 to $20 Million
Typical Term: 5 – 25 years
Non-Recourse: Not Available

USDA Land and Real Estate Loans

USDA loans target properties located in rural areas (populations under 50,000), offering favorable financing for eligible land and real estate development projects.

Loan Amount: $1 Million to $25 Million
Non-Recourse: Not Available

Private Equity

Private equity funds allow investors to pool resources for direct real estate investments, often providing tailored equity solutions for projects.

Check Size: $5 Million to $100 Million+

Real Estate Investment Trust (REIT)

A REIT, whether public or private, offers equity or debt capital for commercial real estate investments, delivering liquidity, diversification, and income opportunities.

Check Size: $10 Million to $100 Million+

Ultra High Net Worth Individuals

Wealthy private investors often deploy capital into real estate, providing flexible equity or debt solutions tailored to specific opportunities and sponsor needs.

Check Size: $5 Million to $100 Million+

Family Offices

Family offices prioritize wealth preservation and growth, investing in real estate through flexible equity and debt structures based on trusted partnerships.

Check Size: $5 Million to $100 Million+

C-PACE Financing

Commercial Property Assessed Clean Energy (C-PACE) programs fund energy-efficient improvements, serving as gap financing between senior debt and equity.

Check Size: $1 Million to $100 Million+

Obtain a Quote

Receive a custom quote for your financing needs

Commercial Real Estate Financing at IMPACT: FAQs

What does IMPACT do for commercial real estate borrowers?

We arrange debt and capital stack solutions for investors, developers, and owner-users across multifamily, industrial, retail, hospitality, and special use. Our core focus is certainty of execution, competitive terms, and disciplined process management from term sheet to close.

Which loan types do you place most often?

Bank and credit union term loans, agency multifamily, bridge and value-add, construction, SBA 504 and 7(a) for owner-users, and specialty programs such as bridge loans, agency multifamily, and C-PACE where applicable.

What are typical leverage and coverage benchmarks?

Stabilized assets: up to 70–80 percent LTV with DSCR in the 1.20x–1.35x range depending on asset class, market, and lender. Bridge and construction are sized on stabilized NOI, debt yield, and business plan execution, often with interest-only.

How fast can a deal close?

Bank and credit union loans commonly close in 30–45 days from a complete package. Bridge loans can close faster when third-party reports are transferable or expedited. Construction and agency timelines depend on diligence scope and approvals.

What documents should I prepare up front?

Current rent roll, trailing-12 and YTD P&L, historical operating statements, borrower financials and tax returns, entity documents, business plan with capex budget and timeline, and third-party reports if available. New acquisitions should include the purchase agreement and all addenda.

How do bank term loans compare to agency multifamily and CMBS?

Bank loans are relationship driven and flexible on covenants and servicing. Agency multifamily can deliver attractive fixed rates, interest-only, and non-recourse for qualifying properties and markets. CMBS may provide higher proceeds and structure at the cost of rigid docs and prepayment provisions.

When is SBA 504 or 7(a) the right call?

For owner-occupied real estate, SBA can extend fixed-rate duration and total leverage compared to conventional bank loans. It is ideal for expansion, ground-up, or equipment-heavy projects that need longer amortization and down payment efficiency.

What prepayment structures should I expect?

Step-down schedules are common on bank loans, such as 5-4-3-2-1 percent. CMBS and agency often use defeasance or yield maintenance. Bridge loans may be open after a short lockout with a minimum interest provision.

Can I pull cash out on a refinance?

Yes, subject to LTV, DSCR, and any seasoning or use-of-proceeds rules. Proceeds are commonly used for capital improvements, partner buyouts, and new acquisitions.

What fees should I budget for?

Third-party reports, lender fees, legal, title and escrow, survey, and our placement fee per engagement letter. We align incentives around execution and terms delivered.

Which markets and deal sizes does IMPACT cover?

We finance nationwide with concentration in the Midwest and major metros. Target check sizes typically range from lower-middle market through institutional, with flexibility based on sponsor, asset quality, and program fit.

What is the best way to start a request with IMPACT?

Send the rent roll, T-12, high-level business plan, and entity structure. We will revert with an indicative sizing, targeted terms, and a clear path to a committed lender. You can also explore our Learning Portal for definitions and calculators.