Bancorp Financial Services

PROVIDING CERTAINTY QUICKLY While every loan is structured to meet individual circumstances, our general lending criteria is outlined below: GENERAL CRITERIA Loan sizes: $2,000,000 – $25,000,000 Interest only or amortizing Loans can be structured to include an interest reserve Funding of up to 100% of project costs Recognition of equity created by borrower First mortgage interest rates from 6% to 10% Second mortgage interest rates from 10% to 14% LAND FINANCING First mortgages up to 75% of appraised value Second mortgages up to 80% of appraised value Rezoning, land assembly, land inventory and land servicing CONSTRUCTION FINANCING First mortgages up to 75% of appraised value Second mortgages up to 80% of appraised value, 100% of cost Includes townhouse, condo, rental apartment, renovation, conversion, inventory, office, retail and industrial INCOME PRODUCING PROPERTIES First mortgages up to 75% of appraised value Second mortgages up to 85% of appraised value Includes rental apartments, industrial, retail and office COMMUNITIES British Columbia and Alberta These are only guidelines and provide a framework from which we generally underwrite. Please contact us if you would like to discuss your mortgage loan requirement or receive a specific quote. We would be pleased to hear from you. Overview Loan Guidelines Recent Projects below Recent Projects RENTAL HOUSING Loan Amount: $3,000,000 Location: Nanaimo, BC Mortgage Type: 2nd mortgage Description: Second mortgage construction loan for the development of a 151 unit rental project. LAND FINANCING Loan Amount: $13,500,000 Location: Vancouver, BC Mortgage Type: 1st mortgage for land financing Description: First mortgage for development of mixed use building. TOWNHOUSE DEVELOPMENT Loan Amount: $5,500,000 Location: Langley, BC Mortgage Type: 1st mortgage Description: First mortgage for acquisition of land TOWNHOUSE PROJECT Loan Amount: $2,500,000 Location: Abbotsford, BC Mortgage Type: 2nd mortgage Description: Second mortgage for development of 65 unit townhouse project. CONDO DEVELOPMENT Loan Amount: $3,300,000 Location: Surrey, BC Mortgage Type: 1st mortgage Description: First mortgage to provide inventory financing. COMMERCIAL/RESIDENTIAL DEVELOPMENT Loan amount: $5,400,000 Location: Victoria, BC Mortgage Type: 1st mortgage Description: Acquisition financing for the purchase of 4 parcels of land to be developed INDUSTRIAL Loan Amount: $7,500,000 Location: Kelowna, BC Mortgage Type: 1st mortgage Description: Acquisition financing for strata industrial development. LAND ACQUISITION Loan amount: $6,450,000 Location: Surrey, BC Mortgage Type: 1st mortgage Description: First mortgage to finance land and to provide site servicing to a single family subdivision. LOW-RISE FINANCING Loan Amount: $5,500,000 Location: Vancouver, BC Mortgage Type: 2nd mortgage Description: Construction financing for the development 44 residential rental units. DUPLEX Loan amount: $3,500,000 Location: Vancouver, BC Mortgage Type: 1st mortgage Description: Construction of a duplex property. RETAIL Loan amount: $15,000,000 Location: Coquitlam, BC Mortgage Type: 1st mortgage Description: Repositioning Loan of Retail Development. LAND ACQUISITION Loan amount: $15,500,000 Location: Coquitlam, BC Mortgage Type: 1st mortgage Description: First mortgage for acquisition of development land