Lending Parameters
The following are general loan parameters and additional services. New Boston Capital can further tailor loans to meet your individual needs. Terms and rates are predicated on each loan's criteria, and are determined solely by New Boston Capital.
Primary Lending Area: New England
Property Types: All commercial properties including apartments, multi-families, condominiums, office, industrial, retail, mixed-use, land, subdivisions, and non-owner occupied residential properties.
Mortgage Products: 1st & 2nd Mortgages, Acquisitions, Construction, Bridge, Note Purchasing, Lines of Credit.
Additional Services: Distressed Project Repositioning, Bankruptcy and Foreclosure Prevention and Workouts, Partnership and Estate Buyouts, Vacant and Non-income producing properties, Tax and other Lien Removal, Debt Consolidation
Use of Proceeds: All loans are made for commercial and business purposes only.
Loan Size: $25,000 to $5,000,000
Loan Term: 3-24 months (longer or shorter terms considered on an exception basis)
Interest Rate: 12% and up depending on loan structure and collateral type. Rates adjusted to New Boston Capital's prime rate of interest.
Origination Fee: 3% and up of the loan amount, paid at closing from loan proceeds
Loan to Value: 60% (up to 70% considered on an exception basis)
Prepayment: No prepayment penalties
Amortization: Interest only
Closings: 5-10 business day closings available subject to receipt and satisfactory review of all necessary underwriting paperwork.