Non-Recourse 100% Financing Program
ECC Project Development Program
Loan to cost: To 100%
Minimum loan: $10M
Maximum loan: None
Funding type: Loan (see “Proof of Funds” if client does not have 15% in bank)
Interest rate 5-7% interest rate
Personal guarantee: None
Project types: Real estate, incl. land development, natural resources, energy, agriculture, technology, infrastructure, fine art, precious stones, other (ask us)
Territory: Worldwide. Must be economically viable and politically stable
Loan term: Flexible according to project size and complexity
Grace period: Interest reserve for payments-flexible period
Proof of funds: 15% of project cost in client’s account.* Does not leave account.
*If borrower does not have the 15%, lender will arrange to deposit it into borrower’s account. In that case, lender will take a small share of equity in project.
Liquidity requirement: $50,000-75,000 for third party, site visit and other approval costs.
Please call or email with questions and to request application forms.
JV Debt / Equity
We can provide both debt and equity for a joint venture project if developer has 5% of project cost to contribute, occasionally less than that if project is very strong.
Since our minimum amount for equity is $3M, total project cost must be at least $10M or so.
All of the most common property types are fine:
Apartments, assisted/senior living, hotels, retail and offices.
Typical capital stack:
Developer contribution 5% of cost (or less)
JV partner 25%
Construction loan 70%
Total 100% of project cost
Out of Pocket Costs:
$3,000-8,000 ($10,000 – $12,000 for international) fee payable after the LOI with terms is issued which covers underwriting and site visit.
Timing depends on how close developer is to being ready, 90 days or so is typical.
1. Is this non-recourse? NO
2. Does it include international projects? NO
3. Does this include non-construction projects?
YES IF THERE IS ENOUGH UPSIDE FOR IT TO MAKE SENSE TO THE EQUITY INVESTOR
4. What are the length of the financing and typical rates?
3-5 YRS TYPICAL BUT CAN VARY. EQUITY PRICING IS CASE BY CASE BUT DEBT USUALLY RUNS 5-6%Submit Capital Request