AMUSA Named LendVer's 2019 Best Small Balance Commercial Real Estate Lender
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About AMUSA Commercial Capital

AMUSA Commercial Capital is a private lender that focuses on providing short-term, 1st mortgage loans secured by commercial real estate in 42 states (AMUSA does not currently lend in AK, HI, MI, NV, ND, SD, VT, WV and Cook County, IL). AMUSA lends to business owners and real estate investors only and does not make primary residence loans. AMUSA has been in business for over 25 years and since that time has funded over $1 billion secured by a variety of property types. Although AMUSA has funded almost 10,000 loans, it operates a hands-on, boutique operation to ensure the highest level of customer service. AMUSA specializes in small private money, permanent loans from $75,000 to $1,000,000, and is an accredited member of the BBB and maintains an A+ rating. AMUSA concentrates on funding long-term loans to borrowers with low credit scores or who have other barriers to traditional financing.

Loan Programs

AMUSA funds long-term, private money loans from $75,000 to $1 million. AMUSA provides financing to business owners and real estate investors looking to purchase, refinance, or cash-out of commercial real estate. In addition to funding small loans, AMUSA specializes in difficult to finance situations such as loan modifications, forbearance periods, maturity defaults, back taxes, vesting issues and other barriers to traditional financing. AMUSA has differentiated itself by offering a number of unique program attributes outlined below.

Private Money Loan Program Highlights / Guidelines

The private loans AMUSA offers are long-term in nature, and are designed for non-conforming borrowers that are shutout of conventional financing. Although a private loan can assist in transitioning a borrower from a distressed situation to a long-term solution, it can also serve as a permanent option for a business owner or property investor who will never qualify for conforming financing, or prefers the simplicity of a private loan. For example, AMUSA recently provided financing to a borrower who was in a maturity default on his current bank loan and had not made payments in over 6 months. The bank had called the borrower’s loan due and filed a foreclosure. The borrower’s credit score dropped from the 700s to the 500’s. Real estate collateral is essential to AMUSA’s program and borrowers without commercial real estate are not eligible for financing.   

Loan sizes from $75,000 to $1 million

  • Loans secured by multifamily, retail, office, light industrial, mixed-use, mobile home parks, warehouse, self-storage, hotel, motel, auto repair, funeral home, and other special-use properties are considered

  • Loan proceeds may be used for purchase, refinance, cash-out, contract for deed refinance, land contracts, select difficult financing situations such as loan modifications, forbearance periods, maturity defaults, back taxes, etc.

  • Stated income and full documentation underwriting

  • Investor or owner occupied property

  • 1.25x minimum debt-service coverage ratio

  • Only 1st mortgage financing is available

  • Interest rates range from 9% to 12%

  • Loan origination fees range from 3% to 5%

  • Fixed loan terms are available up to 25 years

  • Loan-to-value (LTV) up to 70% is available

  • 500 minimum credit score requirement

  • Closings can occur in 2 to 4 weeks

Visit AMUSA Commercial Capital

The Loan Process

LendVer did not shadow the application or loan process for AMUSA but its website offers basic information about how to get started. Applicants are encouraged to apply online, and because AMUSA utilizes a “soft” credit pull system, applying will not affect your credit. AMUSA has implemented a variety of security features to ensure your information is protected, including an encrypted website and application, and third-party internet security software. 

AMUSA offers a seamless and expedited pre-approval process. AMUSA’s application process is paperless and upon receipt of its online application it can usually issue a pre-approval the same day. AMUSA will then request any required supporting documentation, and once received it will issue a letter of intent (LOI) within about 24 hours. If you decide to proceed with the loan offered by AMUSA, the only out-of-pocket expense you will incur is the cost of a third-party appraisal which is due when you return your signed LOI. AMUSA will schedule your appraisal and request any supporting documentation required to fund your loan. All documents can be transmitted electronically and uploaded to AMUSA’s secure portal. AMUSA will work with you hand-in-hand to ensure your loan closing goes smoothly and you receive the best possible service. With full cooperation, AMUSA can usually fund your loan within 2 to 4 weeks. 

Pros

  • AMUSA is adept at funding difficult to finance scenarios that other lenders pass on such as permanent loans for low credit borrowers, and contract for deed refinances.

  • AMUSA has a stellar industry reputation, is a BBB accredited member and maintains an A+ rating.

  • AMUSA offers stated income and full documentation loans fixed for up to 25 years, for borrowers with credit scores as low as 500.

  • AMUSA has funded over $1 billion and has been in business for over 25 years.

Cons

  • AMUSA specializes in private money lending which is high interest rate financing, conforming borrowers will not be a good fit for the firm’s loan programs.

  • Although AMUSA lends nationwide, it does not provide loans in AK, HI, MI, NV, ND, SD, VT, WV or Cook County, IL so borrowers located in these states will not be eligible for financing.

Why AMUSA is the Best

AMSUA has operated as a leading private money lender for the past 25 years and has funded over $1 billion secured by a variety of commercial property types. AMUSA’s experience in private money lending enables it to consider difficult loan situations other lenders shy away from. AMUSA funds a wide range of property types and financing situations, making it a great fit for a variety of borrowers. 

Visit AMUSA Commercial Capital

Tags: 2019 Best Small Loan Commercial Real Estate LenderAMUSA Commercial Capital


Jamie Knight