Lighthouse has established relationships with a large and diverse group of funders. This group provides us with the most comprehensive set of funding programs in the country. Using our working knowledge of each of our partner’s programs, we can mix and match programs to deliver the best fit for our clients. For any loan in excess of $500,000 our programs include the following:
Lighthouse is prepared to get you the right funding for your real estate transaction. At Lighthouse you will find a comprehensive set of loan programs designed to handle just about any type of property. We can finance new construction, acquisitions and repositioning as well as just refinancing—we have the right solution waiting for you.
Programs
Construction Loans – Construction loans generally vary between 12 to 36 months in term and can be used for almost any construction or substantial rehabilitation project. Loan-to-cost and loan-to-value is established based upon the nature of the deal, location, borrower experience and project duration. For large deals Lighthouse may also be able to arrange construction mezzanine debt to increase a builder’s leverage.
Permanent Loans – There are many types of permanent financing that can be arranged by Lighthouse. Many investor real estate loans can be done without recourse (except for standard carveouts). Fixed rates can range from 3 to 30 years. Optional features include early rate lock, earnout clauses, assumable loans, subordinate financing and prepayment flexibility.
Bridge Loans – Bridge loans are available for a variety of reasons, give property owners a chance to reposition their assets to take advantage of changing market conditions. Lighthouse has high-leverage bridge loans available where exit has a high degree of certainty. Other bridge loans can take advantage of a property's existing or potential untapped equity.
Mezzanine Debt/Preferred Equity – Mezzanine debt provides increased leverage to a transaction. It can be structured as a second lien on property or as a preferred equity. A mezzanine loan can be an integral component for a real estate owner or developer in many diverse circumstances.
Joint-Venture Equity – In certain cases Lighthouse can provide a developer with a joint-venture partner. The Lighthouse program can provide up to 100 percent of the equity required for a project depending on factors including credit quality of tenants, pre-leasing prior to funding, current cash flows and project profile.
Properties
Agriculture Programs
Apartment Buildings
Assisted Living Facilities
Bed and Breakfasts
Churches
Condominium Developments
Convenience Stores
Dry Cleaners
Day Care Centers
Gas Stations
Golf Courses
Hospitals
Hotels/Motels
Industrial Properties
Land
Marinas
Medical Facilites
Mixed-Use Buildings
Mobile Home Parks
Office Buildings
Business Acquisitions – Lighthouse provides up to 90 percent financing for business acquisitions (up to 100 percent financing in certain deals). Lighthouse can fund goodwill up to $2 million. Experience and cash flow are the most significant drivers in successful business acquisitions.
Asset-Based Lending – Asset-based financing allows a company to use its assets (inventory, equipment, real estate or accounts receivable) as a source to borrow against in order to increase working capital. Lighthouse works to customize a financing arrangement that can turn its clients’ business assets into valuable cash to expand, grow and manage seasonal variations when traditional financing isn’t available.
Factoring – Factoring is the process of purchasing commercial accounts receivable (invoices) from a business at a discount. Lighthouse can provide cash now instead of its clients having to wait for payment by its customer. Clients can take advantage of cash discounts for early payment and volume purchases, therby enabling them to offer better credit terms to their customers.
Equipment Leasing – Lighthouse provides a broad array of financial products specifically customized to meet the needs of its clients. Financing is available for all types of equipment including rolling stock. Leasing can offer some significant advantages: less initial cash investment, lower monthly payments (for equipment with residuals and fair-market-value equipment leases, the client pays only for the portion used and for tax benefits) and, depending on the lease structure chosen, the payment may be expensed rather than capitalized and depreciated.
Purchase-Order Financing – Large orders, seasonal sales and business expansion can place real pressure on a company's cash flow. Some suppliers want cash on delivery while a customer wants to pay net 30 to 60 days. Lighthouse can provide funds against confirmed orders, or one-off sales, to individual clients. There are three different types of purchase-order facilities (each must be linked to a receivables funding facility) that a client could make use of, dependent upon the situation: making direct payments to the supplier issuing a letter of credit, and a supplier guarantee.
SBA and USDA Lending – Lighthouse has an extensive array of government-guaranteed programs. These include the following:
SBA (7a) program is for the purchase of owner-occupied commercial real estate (new construction or an existing building) or for modernizing a current facility. In addition, funds can be used to start up a new business, expand existing operations, acquire an existing business and purchase inventory and equipment.
SBA (504) loans are for new construction, the purchase of land and buildings, the renovation of existing facilities or the acquisition of new machinery and equipment. Typically, a 504 project includes a loan secured with a senior lien from a private lender covering up to 50 percent of the project cost; a loan secured with a junior lien from the CDC, 100 percent SBA-guaranteed, covering up to 40 percent of the cost; and a contribution of at least 10 percent equity from the small business owner.
USDA Business and Industry loans are for projects located in the United States or its possessions/territories and must be in a rural area (defined as having a population of less than 50,000). B&I loans may involve acquisitions, construction, conversion, repair, modernization or debt refinance. Loan proceeds can be used for real estate acquisition and/or improvements, machinery, equipment, furniture, fixtures and working capital. Closing costs and guarantee fees are also eligible.
