# Cressida Direct Full text of the public loan-program and industry pages. Facts below are copied from the pages themselves. ## Commercial DSCR Loan URL: https://www.cressidadirect.com/programs/investor-commercial A commercial DSCR loan finances an income-producing commercial investment property from $200,000 to $3,000,000. Qualification uses the property's cash flow at a minimum 1:1 DSCR, not personal tax returns. Maximum loan-to-value is 80% on a purchase and 75% on a refinance. Fixed-rate choices are 5 years and 30 years, with amortization up to 30 years. A commercial DSCR loan is a loan on income-producing commercial investment property that qualifies on the property's cash flow. Cressida Direct's program runs from $200,000 to $3,000,000. The minimum debt service coverage ratio is 1:1, measured on current in-place rents. Tax returns and business financials are not required. Maximum loan-to-value is 80% on a purchase and 75% on a refinance. Fixed-rate choices are 5 years and 30 years, with amortization up to 30 years. The loan can be a purchase, a refinance, or a cash-out. ### Who is a DSCR loan for commercial property for? The program is for an investor financing commercial real estate that already produces income. The program sheet describes experienced commercial investors, borrowers a bank has declined because of income documentation or loan size, self-employed borrowers with complicated income, investors doing a cash-out of a stabilized building, and portfolio builders buying income-producing property. It does not publish a minimum number of prior deals. The minimum credit score is 550 or higher. The loan is full recourse. No bank deposit relationship is required. Cressida Direct is a direct lender, so the loan is underwritten and funded in-house rather than sold into a bank credit box. Qualification can be asset-based, on DSCR and property income. The same sheet says a global underwriting approach is also available. It still says tax returns and business financials are not required. Start with [Apply](/apply) and a loan advisor will price the current scenario. ### What property can a commercial investment property loan finance? Eligible property includes multifamily of five or more units, mixed-use, office, retail and strip retail, light industrial, warehouse, self-storage, automotive property, mobile home parks, restaurants and bars, and daycare centers. Stabilized, income-producing property is preferred. Light value-add can be considered case by case. There is no minimum share of the building that the borrower's own business must occupy. Owner-occupied commercial loans that qualify on bank statements are a different program. Car washes are eligible. Hotels and motels are eligible. On those two property types the loan amount is capped at $500,000. The rest of the program still runs to $3 million. Cannabis property, gas stations, event centers, vacant land, vacant buildings, and property that needs rehab are not eligible. Rehab is a different request from light value-add. If the building needs a construction budget, it is outside this term sheet. ### What leverage, DSCR, and term does the program use? Loan-to-value comes from an independent appraisal. The published cap is 80% on a purchase and 75% on a refinance. The sheet does not publish a separate cash-out cap. The property's cash flow has to support at least a 1:1 DSCR on current in-place rents. The sheet does not publish a higher ratio that earns a higher loan-to-value, and it does not publish an interest rate. Do not quote a rate from an older page. Pricing is part of the term sheet. You can choose a 5-year fixed rate or a 30-year fixed rate. Amortization goes up to 30 years. The program is described as mini-perm financing for a hold that may be shorter than a fully amortizing bank loan, and a 30-year fixed option is on the same sheet. The sheet does not say whether the 5-year term has a balloon payment. Prepayment is described as flexible. A step-down schedule is not published. Cressida Direct typically closes in 30 to 45 days across its programs. This program sheet says closings are fast and does not publish a different number of days. The company lends in 44 states and is not available in every state. The program sheet says coverage is nationwide and does not list state exclusions. ### How is a commercial DSCR loan different from SBA, a bank, and a no DSCR loan? An [SBA 504 or 7(a) loan](/programs/sba-504-7a) is for an owner-occupied commercial property, requires tax returns, runs from $500,000 to $20 million, and can reach 90% loan-to-value. Closing on that program is 60 to 90 days. It is the wrong tool when the borrower will not occupy the building and does not want to hand over tax returns. A [no DSCR loan](/programs/no-dscr-residential) is residential, one to four units, with no DSCR test at all, up to 75% loan-to-value, and a 30-year fixed term from $200,000 to $10 million. It is not a commercial-property loan. A bank commercial mortgage usually wants tax returns, global cash flow, and a depository relationship. This program does not require tax returns, business financials, or a deposit account, and it will look at a 1:1 DSCR. If the business occupies the building, look at [owner-occupied commercial financing](/programs/owner-occupied-commercial), which uses 12 months of business bank statements and fully amortizes over 25 or 30 years. Start with [Apply](/apply) and a loan advisor will price the current scenario. Highlights: - DSCR as low as 1:1 - Up to 80% LTV on a purchase - No tax returns - 5-year or 30-year fixed Parameters: - Loan Range: $200K – $3M - Max LTV: 80% purchase / 75% refinance - Min DSCR: 1:1 - Fixed Rate: 5-year or 30-year - Amortization: Up to 30 years - Credit Score: 550+ - Documentation: Light doc, no tax returns - Purpose: Purchase, refinance, cash-out - Recourse: Full recourse - Prepayment: Flexible options FAQs: - Q: What is a commercial DSCR loan? A: A commercial DSCR loan is financing for an income-producing commercial investment property. Cressida Direct qualifies it on the property's cash flow at a minimum 1:1 DSCR, using current in-place rents, instead of personal tax returns or business financials. Loan amounts run from $200,000 to $3,000,000. - Q: What DSCR and credit score does a DSCR loan for commercial property require? A: The minimum DSCR is 1:1, based on current in-place rents. The minimum credit score is 550 or higher. The program sheet does not publish a higher DSCR tier or a credit tier that changes the maximum loan-to-value. - Q: What is the maximum LTV on a commercial investment property loan? A: Maximum loan-to-value is 80% on a purchase and 75% on a refinance. Loan-to-value is set from an independent appraisal. - Q: Do commercial DSCR loans require tax returns? A: No. Documentation is light doc. Tax returns and business financials are not required. The loan qualifies on DSCR and the property's income. The same sheet also says asset-based and global underwriting approaches are available. - Q: What is the term on a commercial DSCR loan? A: Fixed-rate choices are a 5-year term and a 30-year term. Amortization is up to 30 years. The program sheet does not publish an interest rate or a prepayment schedule. It says prepayment options are flexible. - Q: Can I use a commercial DSCR loan for cash-out? A: Yes. The program covers purchase, refinance, and cash-out. Published loan-to-value caps are 80% on a purchase and 75% on a refinance. The sheet does not publish a separate cash-out cap. - Q: Are car washes and hotels eligible for a commercial DSCR loan? A: Yes. Car washes and hotels or motels are eligible, and the loan amount on those properties is capped at $500,000. Gas stations, cannabis properties, event centers, land, vacant properties, and properties that need rehab are not eligible. - Q: Which commercial properties qualify? A: Eligible property includes multifamily of 5 or more units, mixed-use, office, retail and strip retail, light industrial, warehouse, self-storage, automotive, mobile home parks, restaurants and bars, and daycare centers. Stabilized, income-producing property is preferred. Light value-add is considered case by case. There is no minimum occupancy by the borrower's own business. ## DSCR Residential Loans URL: https://www.cressidadirect.com/programs/investor-residential 1–4 unit and multifamily investment property loans. Lite doc and DSCR programs for real estate investors. Qualify on rental income — no personal income verification required. Highlights: - DSCR qualification - Lite doc options - 1–4 units & multifamily - 30-year amortization Parameters: - Loan Range: $200K – $5M - Max LTV: Up to 75% - Documentation: DSCR or Lite Doc - Closing Time: 30–45 Days - Property Type: 1–4 Unit / Multifamily - Borrower Type: Investor / LLC - Tax Returns: Not Required - Amortization: 30 Years FAQs: - Q: What is a DSCR loan for residential investment properties? A: A DSCR (Debt Service Coverage Ratio) loan qualifies the borrower based on the rental income of the investment property rather than personal income. If the property's monthly rent covers the mortgage payment (DSCR ≥ 1.0), the borrower can qualify without W-2s or tax returns. - Q: What is the minimum DSCR for residential investment loans? A: Cressida Direct's DSCR residential program accepts ratios as low as 1.0x. Some programs allow DSCR below 1.0 with compensating factors such as a larger down payment or strong credit score. The market rent appraisal is used to calculate the DSCR. - Q: Can I use a DSCR loan to buy a short-term rental (Airbnb)? A: Yes. Short-term rental income can be used for DSCR qualification using the AirDNA market rent estimate or the appraiser's short-term rental income analysis. The property must be in a market where short-term rentals are legally permitted. - Q: Do residential DSCR loans require tax returns or personal income verification? A: No. The Investor Residential DSCR program qualifies you on the property's market rent, so no personal tax returns, W-2s, pay stubs, or debt-to-income calculation are required. We confirm the rent through the appraiser's market-rent analysis (Form 1007) and review the property's payment, your credit, and your reserves. - Q: Can I close a residential DSCR loan in an LLC? A: Yes. You can borrow in your own name or through an LLC, corporation, or trust, and entity borrowing is standard for rental investors. Holding title in an LLC is fully supported and does not change your eligibility or the property-based qualification. - Q: Can I take cash out of a rental property with a DSCR loan? A: Yes. The program supports purchases, rate-and-term refinances, and cash-out refinances. On a cash-out refinance, your maximum loan amount is driven by the appraised value, the property's DSCR, and the LTV tier you qualify for — commonly up to about 75% of value on residential rentals. - Q: How much can I borrow and what is the maximum LTV? A: Loan amounts range from $200,000 to $5,000,000, with financing available up to 75% loan-to-value on qualified 1–4 unit and small multifamily rentals. Your maximum loan amount depends on the appraised value, the property's DSCR, and the LTV tier you qualify for. ## No DSCR Loan URL: https://www.cressidadirect.com/programs/no-dscr-residential A no DSCR loan, also called a no ratio loan, is an asset-based loan for residential property of one to four units. Qualification is loan-to-value and credit score only. There is no DSCR requirement, no tax return, and no experience requirement. Cressida Direct lends $200,000 to $10 million, up to 75% loan-to-value, on a 30-year fixed, fully amortizing term. Rates are currently in the 9% to 10.5% range and are subject to change. Closing is typically 30 to 45 days from term sheet to close. A no DSCR loan is a no ratio loan for a borrower who wants asset-based financing on a residential property of one to four units. The only qualification tests are loan-to-value and credit score. The property does not have to cover the payment, the file does not include tax returns, and prior landlord or flip experience is not required. Cressida Direct lends $200,000 to $10 million at up to 75% loan-to-value on a 30-year fixed term that fully amortizes. Rates are currently in the 9% to 10.5% range and are subject to change. From an accepted term sheet, closing is typically 30 to 45 days. ### Who qualifies for a no ratio loan? The borrower is someone who wants an asset-based loan. Credit score and loan-to-value decide the file. The credit score has to be above 550, and the loan cannot exceed 75% of value. Three months of reserves are required, shown with bank statements. Experience is not required, so a first property and a tenth property are underwritten the same way on those two tests. There is no DSCR test and there are no tax returns. A lender that uses a debt service coverage ratio asks whether rent covers the mortgage. This program does not ask that question, which is why a property with no lease, a lease that does not cover the payment, or a business use instead of a tenant can still be financed. Personal income is not the qualifier. Start with [Apply](/apply) and a loan advisor will price the current scenario. ### Which properties can a no DSCR loan finance? Eligible collateral is residential property of one to four units. That includes a single-family residence, a townhome, a condo, and an apartment building of one to four units. The program is for property the borrower does not live in. A house a business occupies, with the borrower living somewhere else, is a non-owner-occupied residential property and a business-purpose use of this loan. Rural property is not eligible. A condotel is not eligible. Property in North Dakota, South Dakota, West Virginia, or Michigan is not eligible. Those four states are a program limit. Cressida Direct lends in 44 states overall, and this page does not turn that company footprint into a list of every state where a no DSCR loan is offered. ### What are the rate, term, and prepayment penalty? The term is 30 years, fixed, and fully amortizing. The payment includes principal and interest for the full term, so the loan does not mature with a remaining balance after a shorter fixed period. Loan size is $200,000 to $10 million. Maximum loan-to-value is 75%. Rates are currently in the 9% to 10.5% range. That range is current pricing and is subject to change. It is not a promise that a later term sheet will land on the same number. The prepayment penalty declines over five years. The program fact is that five-year declining penalty. A year-by-year percentage schedule is not published as a rule for every loan. Reserves are three months. The documents that support the file are a government ID, bank statements for those reserves, entity documents, a purchase contract when the loan is a purchase, and insurance. ### How is a no DSCR loan different from a residential DSCR loan? Cressida Direct's [residential DSCR loan](/programs/investor-residential) qualifies on rent. The published residential program accepts a DSCR as low as 1.0x, lends $200,000 to $5 million, and goes to 75% loan-to-value, with 30-year amortization and a 5-year or 7-year fixed rate. Tax returns are not required on that program either. Use the [DSCR calculator](/dscr-calculator) when you have a rent figure and want to see whether the payment is covered. Choose the no ratio loan when you do not want the rent test. Both programs top out at 75% loan-to-value, so this page does not describe the DSCR loan as higher leverage. The no DSCR loan is the one that still works when the property does not cash-flow. A [foreign national loan](/programs/foreign-national-investor) uses the same 30-year fixed structure, at 65% loan-to-value, for a borrower who will not be using a U.S. credit file. That program also finances apartments of five or more units, retail, office, light industrial, and mixed-use. ### What does closing look like? The clock that this program publishes is 30 to 45 days from term sheet to close. That is the same window Cressida Direct uses as its typical close. It is measured from the term sheet, not from the first phone call, so the appraisal, title, insurance, and the reserve statements all sit inside that stretch. On a purchase, the purchase contract is a required document. Insurance is required on every file. Entity documents are required as well. The published facts do not say whether an individual, an LLC, or a trust is the expected vesting, so that question should be answered before the contract is written. Start with [Apply](/apply) and a loan advisor will price the current scenario. Highlights: - No DSCR requirement - No tax returns - Credit score above 550 - Up to 75% LTV Parameters: - Loan Range: $200K – $10M - Max LTV: Up to 75% - Term: 30-year fixed, fully amortizing - Credit Score: Above 550 - Rate: Currently 9%–10.5% - Reserves: 3 months - Documentation: No DSCR, no tax returns - Closing: Typically 30–45 days from term sheet - Prepayment: Declining 5-year penalty - Experience: Not required FAQs: - Q: Is a no DSCR loan really no income verification? A: Yes. A no ratio loan qualifies on loan-to-value and credit score only. There is no DSCR requirement, no tax returns, and no experience requirement. - Q: What credit score do I need for a no ratio loan? A: The credit score must be above 550. Qualification uses that score and the loan-to-value. There is no separate income score. - Q: What is the maximum LTV on a no DSCR loan? A: The maximum loan-to-value is 75%. Loan amounts run from $200,000 to $10 million. - Q: Can an LLC borrow on a no DSCR loan? A: The required file includes entity documents. The published program facts do not name which entities may be the borrower. Confirm with Cressida Direct whether an LLC can hold the loan before the purchase contract is written in an entity's name. - Q: What is the prepayment penalty on a no DSCR loan? A: The program uses a declining five-year prepayment penalty. A year-by-year schedule is not published as a program-wide term. - Q: Which properties and states are not eligible for a no DSCR loan? A: Rural properties and condotels are not eligible. Properties in North Dakota, South Dakota, West Virginia, and Michigan are not eligible. Eligible property is a single-family residence, townhome, condo, or apartment of one to four units. - Q: How long does a no DSCR loan take to close? A: A loan typically takes 30 to 45 days from term sheet to close. - Q: What documents does a no DSCR loan require? A: The file is a government ID, bank statements for reserves, entity documents, a purchase contract on a purchase, and insurance. Reserves are three months. ## SBA 504 & 7(a) URL: https://www.cressidadirect.com/programs/sba-504-7a SBA 504 and 7(a) loan programs for owner-occupied commercial real estate and business acquisitions. Low down payments and long-term fixed rates backed by the U.S. Small Business Administration. Highlights: - Up to 90% LTV - Long-term fixed rates - Low down payment (10%) - No balloon payment Parameters: - Loan Range: $500K – $20M - Max LTV: Up to 90% - Documentation: Full Doc - Closing Time: 60–90 Days - Property Type: Owner-Occupied Commercial - Borrower Type: Business Owner - Tax Returns: Required - Balloon Payment: None FAQs: - Q: What is the difference between SBA 504 and SBA 7(a)? A: In short: SBA 504 is purpose-built for fixed assets — owner-occupied commercial real estate and long-life equipment — while SBA 7(a) is a single, more flexible loan that can also fund working capital, inventory, equipment, or a business acquisition (up to $5,000,000). See the SBA 7(a) vs. SBA 504 comparison above for a full side-by-side breakdown of structure, use of funds, and loan size. - Q: Am I eligible for an SBA loan? A: SBA financing is available to for-profit small businesses that occupy the majority of the commercial property being financed and meet the SBA's size standards. The SBA and the lender look at the business's ability to repay from its cash flow, the owner's credit and character, and the health of the operating business. Because these are full-documentation loans, expect to provide business and personal tax returns and financial statements as part of the approval process. - Q: What can I use SBA loan funds for? A: SBA 504 funds are directed at fixed assets — purchasing, constructing, or renovating owner-occupied commercial real estate, and acquiring major long-life equipment. SBA 7(a) is broader: in addition to real estate, a 7(a) loan can fund working capital, equipment, inventory, a business acquisition, and the refinance of eligible business debt. If your project involves more than just the building, 7(a) is often the better fit; if it is primarily real estate, 504 is typically the stronger structure. - Q: How much do I need for a down payment or equity injection on an SBA loan? A: SBA loans are one of the lowest down-payment paths into owner-occupied commercial real estate. Established businesses can often qualify with an equity injection as low as 10%, financing up to 90% of the project. Startups or special-use properties may require a larger injection of 15–20%. Putting less down lets an owner preserve working capital for operating and growing the business. - Q: What is the minimum SBA loan amount at Cressida Direct? A: Cressida Direct's SBA financing starts at a $500,000 minimum loan amount, and this applies across both the SBA 7(a) and SBA 504 programs. SBA loans are best suited to owner-occupied commercial real estate purchases, construction, and refinances at or above that threshold. - Q: How long does SBA loan approval take? A: SBA loans typically close in 60–90 days. The process involves lender underwriting, SBA review of the guaranty, and — on a 504 loan — coordination with a Certified Development Company alongside the first-mortgage lender, plus appraisal and title work. Delivering complete, accurate financials up front is the best way to stay on schedule, and Cressida Direct's dedicated SBA team manages the file end to end to keep your deal on track. ## Owner Occupied Commercial URL: https://www.cressidadirect.com/programs/owner-occupied-commercial Financing for business owners who occupy their commercial property. Bank statement programs available — qualify on 12 months of business bank statements with no tax returns required. Cressida Direct helps business owners buy, build equity in, and refinance the commercial property their company operates from. Our bank-statement program qualifies you on 12 months of business deposits instead of tax returns, so the write-offs that reduce your taxable income don't stop you from owning your building. ### Financing built for self-employed owners Owner-occupied commercial real estate financing is for the business owner who wants to stop paying rent and start building equity in the building their company operates from. It applies whenever the owner's business occupies at least 51% of the space — a dentist buying their practice building, a contractor purchasing a warehouse and yard, a shop owner acquiring their retail storefront. The obstacle for most of these owners isn't the property or the down payment — it's documentation. Successful self-employed borrowers legitimately use deductions to lower taxable income, and a conventional lender that underwrites off the bottom line of a tax return sees a business that looks far less profitable than it actually is. That mismatch sinks otherwise strong loan applications. Cressida Direct solves it with a bank-statement program. Instead of tax returns, we analyze 12 months of business bank statements to establish real, recurring cash flow. That lets us finance owners on the money their business actually generates rather than the number that survives after write-offs. ### Program parameters at a glance The owner-occupied commercial program is designed to be flexible on documentation while staying disciplined on collateral. The core guardrails: - Loan amounts from $200,000 to $3,000,000. - Up to 80% loan-to-value on qualified owner-occupied properties. - Qualification on 12 months of business bank statements — no personal tax returns. - Borrowing entities including individuals, LLCs, and corporations. - Fully amortized over 25 or 30 years. No balloon payment. - Typical closings in 45 to 55 days. ### Eligible property types Owner-occupancy is about how the space is used, not a narrow list of building categories. As long as the borrower's operating business occupies a majority of the square footage, a wide range of commercial property types qualifies: - Office buildings and professional suites - Retail storefronts and strip centers - Light industrial and warehouse - Mixed-use buildings - Automotive service and repair facilities - Restaurants and bars - Day care centers - Self-storage facilities ### How bank-statement underwriting works Rather than starting from a tax return, we start from your deposits. Our underwriters review 12 months of business bank statements to identify consistent, recurring revenue, then apply a reasonable expense factor to arrive at a defensible cash-flow figure. That figure is used to confirm the business can comfortably cover the new mortgage payment along with its other obligations. In practice we look for a global cash-flow coverage of at least 1.0x — meaning the business's documented cash flow is sufficient to service the proposed debt. Stronger coverage, a larger down payment, or a lower loan-to-value all improve pricing and can expand how much you can borrow. Because we are not reconstructing a tax return, the process is faster and far less painful than a conventional full-doc commercial loan. The property still matters. We order an appraisal to establish value and confirm the loan-to-value, and we verify that the business genuinely occupies at least 51% of the space, which is what distinguishes an owner-occupied loan from an investment loan. Special-use properties are underwritten a little more conservatively on value, but they remain eligible. ### Why owning beats renting For a stable, growing business, buying the building is one of the most durable ways to build wealth. Instead of writing a rent check that funds someone else's balance sheet, the owner converts a fixed operating cost into equity and locks in occupancy cost against long-term amortization. Over a 25- to 30-year amortization, that shift compounds into a substantial asset that sits outside the operating business. Ownership also removes a real strategic risk: a landlord who declines to renew, raises rent at renewal, or sells the building out from under a tenant. When you own the property your business depends on, you control your location, your build-out, and your future — and Cressida Direct's bank-statement program removes the documentation barrier that keeps many qualified owners renting. There are tax and balance-sheet advantages as well. Mortgage interest and property depreciation can offset income, and the building becomes an appreciating asset the owner can eventually sell, lease back, or pass on — often held in a separate entity from the operating business. For many owners, the real estate ultimately becomes as valuable as the company that occupies it. Highlights: - No tax returns required - Bank statement qualification - Up to 80% LTV - 45–55 day program window Parameters: - Loan Range: $200K – $3M - Max LTV: Up to 80% - Documentation: Bank Statement (12 months) - Closing Time: 45–55 Days - Property Type: Owner-Occupied Commercial - Borrower Type: Business Owner / LLC - Tax Returns: Not Required - Amortization: Fully amortized, 25 or 30 years FAQs: - Q: Can I qualify for a commercial loan without tax returns? A: Yes. Cressida Direct's Owner Occupied Commercial program qualifies borrowers using 12 months of business bank statements instead of tax returns. This is ideal for self-employed business owners whose tax returns show significant write-offs that understate actual income. - Q: What property types qualify for owner-occupied commercial financing? A: Eligible property types include office buildings, retail storefronts, light industrial, mixed-use, automotive shops, restaurants, day care centers, and self-storage facilities — as long as the borrower's business occupies at least 51% of the space. - Q: What is the minimum DSCR for owner-occupied commercial loans? A: For bank statement programs, we analyze the business's cash flow from bank statements rather than a traditional DSCR calculation. Most programs require a global cash flow coverage of at least 1.0x based on the bank statement income analysis. - Q: What does 'owner-occupied' mean for a commercial loan? A: Owner-occupied means the borrower's operating business occupies at least 51% of the property's usable space. That majority-occupancy requirement is what distinguishes an owner-occupied loan from an investment (non-owner-occupied) loan, and it lets us underwrite around the health of the business that operates there. - Q: How much can I borrow and what is the maximum LTV? A: Loan amounts range from $200,000 to $3,000,000, with financing available up to 80% loan-to-value on qualified owner-occupied properties. Your maximum loan amount depends on the appraised value, the documented cash flow of your business, and the property type. - Q: How is my income calculated from bank statements? A: Underwriters review 12 months of business bank statements to identify consistent, recurring deposits, then apply a reasonable expense factor to arrive at a defensible cash-flow figure. Most programs require a global cash-flow coverage of at least 1.0x, meaning documented cash flow is sufficient to service the new debt. - Q: Is there a balloon payment? A: No. The owner-occupied commercial loan is fully amortized over 25 or 30 years. There is no balloon payment. - Q: How long does an owner-occupied commercial loan take to close? A: Owner-occupied commercial loans typically close in 45 to 55 days. Timing depends on the appraisal, title work, and how quickly the required bank statements and property documents are provided. ## Foreign National Loan URL: https://www.cressidadirect.com/programs/foreign-national-investor A foreign national loan, including a foreign national commercial loan, finances U.S. investment property with no credit report and no credit score. Eligible property is one to four residential units, apartments of five or more units, retail, office, light industrial, and mixed-use. A passport or a visa is acceptable, and neither a Social Security number nor an ITIN is required. The borrower must use a U.S. LLC. One-to-four unit loans run from $200,000 to $10 million. Commercial loans have a maximum of $5 million. Maximum loan-to-value is 65 percent on both, on a 30-year fixed fully amortizing term, with a declining five-year prepayment penalty and three months of reserves in a U.S. bank account. Rates are currently 9% to 10.5% and are subject to change. Closing is typically 30 to 45 days from term sheet. A foreign national loan from Cressida Direct finances U.S. investment property for a borrower who will not be underwritten on a U.S. credit report. Eligible property is a non-owner-occupied home of one to four units, and commercial real estate is also eligible: apartments of five or more units, retail, office, light industrial, and mixed-use. A one-to-four unit loan runs from $200,000 to $10 million. A commercial loan has a maximum of $5 million. Maximum loan-to-value is 65% on both. There is no credit report and no credit score requirement. A passport or a visa is acceptable identification. A Social Security number is not required, and an ITIN is not required. The borrower must borrow through a U.S. LLC. ### Who can use a no SSN investment property loan? This is the program for a non-U.S. borrower. Identification is a passport or a visa. The file does not require an SSN or an ITIN, and it does not require a credit report or a credit score. The credit-score minimum above 550 on the no DSCR loan is not a requirement here. The borrowing entity has to be a U.S. LLC. Entity documents are part of the file. Reserves are three months, and they have to sit in a U.S. bank account. A foreign bank account is not accepted for reserves. There is no DSCR requirement, no tax-return requirement, and no experience requirement. A foreign national commercial loan uses those same borrower rules. The commercial collateral is an apartment building of five or more units, retail, office, light industrial, or mixed-use. A one-to-four unit home the borrower does not occupy is still eligible, from $200,000 to $10 million. The commercial maximum loan is $5 million. The 65% loan-to-value cap, the 30-year fixed term, the U.S. LLC, and the U.S. bank reserves apply to both. ### Which property can a foreign national commercial loan finance? Eligible residential property is a single-family residence, a townhome, a condo, or an apartment of one to four units. Eligible commercial property is apartments of five or more units, retail, office, light industrial, and mixed-use. The loan is for property the borrower does not live in. Rural property is not eligible. A condotel is not eligible. Property in North Dakota, South Dakota, West Virginia, or Michigan is not eligible. A one-to-four unit loan is $200,000 to $10 million. A commercial loan on apartments of five or more units, retail, office, light industrial, or mixed-use has a maximum of $5 million. Maximum loan-to-value is 65% on both, so the equity in the deal is at least 35% of value. On a $1 million property, 65% is a $650,000 loan. The term is 30 years, fixed, and fully amortizing, with a declining five-year prepayment penalty. Rates are currently in the 9% to 10.5% range and are subject to change. Closing is typically 30 to 45 days from term sheet to close. ### How is a foreign national commercial loan different from the no DSCR loan? The [no DSCR loan](/programs/no-dscr-residential) is for a borrower qualified on loan-to-value and a credit score above 550, up to 75% loan-to-value, on residential property of one to four units. This foreign national loan drops the credit report, accepts a passport or a visa, requires a U.S. LLC, holds reserves in a U.S. bank, and stops at 65% loan-to-value. It also finances apartments of five or more units, retail, office, light industrial, and mixed-use. The no DSCR loan does not. On a one-to-four unit home the loan amount matches the no DSCR loan, $200,000 to $10 million. Commercial property on this program has a $5 million maximum. The shared terms are the 30-year fixed fully amortizing term, the declining five-year prepayment penalty, and the skip of DSCR, tax returns, and an experience test. Both quote rates currently at 9% to 10.5%, subject to change. Both close in a typical 30 to 45 days from term sheet. Both exclude rural property, condotels, and the same four states. Documents match the no DSCR file, with the foreign-national rules added. Expect a government ID in the form of a passport or visa, bank statements for reserves in a U.S. bank, entity documents for the U.S. LLC, a purchase contract on a purchase, and insurance. Start with [Apply](/apply) and a loan advisor will price the current scenario. ### What should a broker send first? Send the property type, the city and state, the requested loan amount, and the value you are using for the 65% loan-to-value test. Say that the borrower will use a U.S. LLC, that identification is a passport or a visa, and that three months of reserves are in a U.S. bank. Do not send a foreign bank statement as the reserve document. Cressida Direct is the direct lending platform of Cressida Capital Corp. and lends in 44 states. This program's exclusions are narrower than that company footprint and are listed above. A request that is outside this program may be referred to Cressida Capital. [Apply here](/apply) or compare the [residential DSCR loan](/programs/investor-residential) if the borrower has U.S. credit documentation and the rent covers the payment. ### What does the file include, and what does it leave out? Plan on five kinds of paper. A government ID, satisfied by a passport or a visa. Bank statements that show three months of reserves in a U.S. bank. Entity documents for the U.S. LLC that will borrow. A purchase contract when the transaction is a purchase. Insurance on the property. Those are the same document categories as the no DSCR loan, with the identification and the bank-account rules stated for a non-U.S. borrower. The loan is still asset-based. The file does not include a rent roll that has to cover the payment, a tax return, or a history of owning rentals. Quote the rate as currently 9% to 10.5%, and say that it can change. The prepayment penalty declines over five years. A year-by-year percentage is not published as a program-wide schedule. Ask Cressida Direct before you quote cash-out, a personal guarantee, or eligibility in a state that is not on the exclusion list. Those points are not in the published terms for this program. The confirmed path is the U.S. LLC, the passport or visa, three months of reserves in a U.S. bank, and the 65% loan-to-value cap. Highlights: - No credit report or score - No SSN or ITIN - U.S. LLC required - Up to 65% LTV Parameters: - Loan Range: $200K–$10M on 1–4 units · $5M max commercial - Max LTV: Up to 65% - Term: 30-year fixed, fully amortizing - Credit: No credit report or score - Identification: Passport or visa; no SSN or ITIN - Borrower: U.S. LLC required - Reserves: 3 months in a U.S. bank - Rate: Currently 9%–10.5% - Closing: Typically 30–45 days from term sheet - Prepayment: Declining 5-year penalty FAQs: - Q: Does a foreign national loan require a credit score? A: No. Foreign national borrowers do not need a credit report or a credit score. The 550 credit-score minimum on the no DSCR loan does not apply to this program. - Q: Do I need an SSN or ITIN for a no SSN investment property loan? A: No. A Social Security number is not required, and an ITIN is not required. A passport or a visa is acceptable identification. - Q: Does a foreign national commercial loan have to be in a U.S. LLC? A: Yes. The borrower must borrow through a U.S. LLC. Entity documents are part of the file. - Q: Can reserves for a foreign national loan stay in a foreign bank? A: No. Reserves must be held in a U.S. bank account. Foreign accounts are not accepted. The reserve requirement is three months. - Q: What is the maximum LTV on a foreign national commercial loan? A: The maximum loan-to-value is 65% for a one-to-four unit home and for apartments of five or more units, retail, office, light industrial, and mixed-use. A one-to-four unit loan runs from $200,000 to $10 million. A commercial loan has a maximum of $5 million. The no DSCR loan goes to 75% and is residential only. - Q: Is there a DSCR or tax-return requirement? A: No. There is no DSCR requirement, no tax returns, and no experience requirement. Qualification is asset-based. - Q: How long does a foreign national loan take to close? A: Closing is typically 30 to 45 days from term sheet to close. - Q: What property can a foreign national commercial loan finance? A: Eligible property is a single-family residence, townhome, condo, or apartment of one to four units, plus apartments of five or more units, retail, office, light industrial, and mixed-use. Rural properties and condotels are not eligible. Properties in North Dakota, South Dakota, West Virginia, and Michigan are not eligible. ## Bridge Financing URL: https://www.cressidadirect.com/programs/bridge-financing Short-term commercial bridge loans from $1M–$10M secured by a 1st or 2nd mortgage on California commercial real estate — California properties only. Fast funding for acquisitions, repositions, or payoff of maturing debt. Cressida Direct funds short-term commercial bridge loans secured by a first or second mortgage on income-producing California real estate — California properties only. When a deal is time-sensitive and a bank timeline won't work, we underwrite on the collateral and the exit — not committees — and issue a pre-LOI within 24 to 48 hours. ### What a commercial bridge loan actually solves A commercial bridge loan is short-term financing — typically six to twenty-four months — designed to close the gap between an immediate capital need and a longer-term source of funds. The point of a bridge loan is speed and certainty: it gives an owner or investor the ability to act on a deadline that a conventional lender simply cannot meet. Banks and agency lenders are built for stabilized, fully documented properties and predictable timelines. That works well until a deal has a moving part — a maturing note with a hard payoff date, a property that is mid-lease-up, a value-add business plan that hasn't seasoned yet, or a seller who wants to close in three weeks. In those situations the property or the story falls outside a bank's credit box, and the borrower needs a lender that can underwrite the real estate and the plan rather than two years of tax returns. Cressida Direct fills that gap directly. We lend our own capital against California commercial real estate from $1M to $10M — California properties only — in either a first or second mortgage position, and we structure each loan around the specific problem the borrower is solving. ### How Cressida Direct structures a bridge loan Every bridge loan is sized to the property and the exit rather than a rigid rate sheet. That said, our commercial bridge program has consistent guardrails that let brokers and borrowers know quickly whether a scenario fits: - California properties only — collateral must be located in California. - Loan amounts from $1,000,000 to $10,000,000. - Up to 70% loan-to-value, measured against a defensible as-is or as-stabilized value. - First or second mortgage positions on California commercial real estate. - Terms of 6 to 24 months, interest-only, with no long-term prepayment lock-in. - Light documentation — no personal tax returns required to qualify. - Eligible California collateral including office, retail, industrial, multifamily, mixed-use, hospitality, and select land. ### Common uses for bridge capital Because the product is defined by speed and flexibility rather than a single property type, bridge financing shows up across a wide range of situations. The through-line is always the same: a clear, near-term reason the money is needed and a credible way to pay it back. - Acquiring a property under a tight purchase contract before permanent financing can be arranged. - Paying off a maturing commercial mortgage to avoid default or a forced sale. - Repositioning or stabilizing a property — leasing up vacancy or completing light renovation — so it qualifies for agency or bank debt. - Cashing out equity quickly to fund a second acquisition or a business need. - Buying out a partner, settling an estate, or resolving a title issue on a deadline. ### How we underwrite: collateral, exit, and sponsor Bridge underwriting rests on three questions. First, is the collateral real and conservatively valued? We look at the as-is value and, where a business plan is involved, a supportable as-stabilized value, and we size the loan so there is a meaningful equity cushion beneath us. Because we can lend in a second position, we also evaluate the combined loan-to-value across both mortgages. Second, is the exit strategy credible? A bridge loan is only as good as the plan to retire it. We want to see a specific, realistic path — a permanent refinance the borrower can reasonably qualify for, a sale with comparable support, or a lease-up that gets the property to stabilization within the loan term. Speculative exits get priced and structured conservatively; concrete ones move quickly. Third, does the sponsor have the experience and liquidity to execute? We are not credit-score driven the way a consumer lender is, but we do want to see that the borrower can carry the property through the plan. Because we skip full income documentation, the collateral and exit carry more of the underwriting weight, which is exactly why we can move in days rather than months. ### Speed you can build a deal around The single most valuable thing a bridge lender offers is certainty of execution. Cressida Direct issues a pre-LOI within 24 to 48 hours of receiving a complete deal summary — the address, the requested loan amount, the position, a value estimate, and a short description of the story and the exit. From there, a bridge loan typically closes in 30–45 days, and as fast as 14 days depending on title, appraisal, and third-party turnaround. Cressida Direct is the direct lending platform, so a deal that fits this program has no second layer of approval between the term sheet and the wire. When we say a deal works, it works. That reliability is what lets a buyer confidently sign a purchase contract with a short closing window, or a borrower with a maturing loan sleep at night knowing the payoff will fund on time. Requests outside our programs may be referred to Cressida Capital, the brokerage / loan advisor platform. Highlights: - California properties only - Pre-LOI in 24–48 hours - 1st or 2nd mortgage - $1M–$10M Parameters: - Loan Range: $1M – $10M - Max LTV: Up to 70% - Documentation: Light Doc - Closing Time: Typically 30–45 days, as fast as 14 days - Position: 1st or 2nd Mortgage - Borrower Type: Investor / Developer - Tax Returns: Not Required - Loan Term: 6–24 Months - Geography: California Only FAQs: - Q: Where is Cressida Direct's bridge financing available? A: Cressida Direct's commercial bridge program lends on California properties only. The loan must be secured by commercial real estate located in California; properties outside California are not eligible for this program. - Q: What is a commercial bridge loan used for? A: Commercial bridge loans provide short-term financing (6–24 months) to bridge the gap between immediate capital needs and long-term financing. Common uses include acquiring a California property before permanent financing is arranged, repositioning a property to stabilize occupancy, or paying off a maturing commercial mortgage. - Q: How quickly can Cressida Direct fund a bridge loan? A: Cressida Direct can issue a pre-LOI (Letter of Intent) within 24–48 hours of receiving a complete deal summary. A bridge loan typically closes in 30–45 days, and as fast as 14 days depending on title, appraisal, and due diligence. - Q: What is the exit strategy requirement for a bridge loan? A: Bridge loans require a clearly defined exit strategy — typically refinancing into permanent financing, a property sale, or lease-up to stabilization. Cressida Direct evaluates the feasibility of the exit strategy as part of underwriting. - Q: Can I get a bridge loan in a second mortgage position? A: Yes. Cressida Direct writes bridge loans in either a first or second mortgage position on California commercial real estate. When we lend behind an existing first, we evaluate the combined loan-to-value across both mortgages to make sure there is a sufficient equity cushion protecting our position. - Q: Do bridge loans require tax returns or a high credit score? A: No personal tax returns are required. Our bridge program is light-doc and underwrites primarily on the collateral and the exit strategy rather than personal income. Credit and liquidity are considered as part of assessing the sponsor's ability to execute the business plan, but the real estate and payoff plan carry most of the underwriting weight. ## Fix & Flip Residential URL: https://www.cressidadirect.com/programs/fix-and-flip Short-term, interest-only financing for residential fix-and-flip investors. Fund up to 85% of total cost (LTC) and up to 85% of after-repair value (LTARV), with rates of 8.9%–9.9%, no prepayment penalty, and closings as fast as 5–7 days. Highlights: - As fast as 5–7 days - Up to 85% LTC & 85% LTARV - Interest-only, no prepay penalty - First-time investors eligible Parameters: - Loan Range: $200K – $5M - Max LTC: 85% of Total Cost - Max LTARV: 85% of ARV - Interest Rate: 8.9% – 9.9% - Payments: Interest-Only - Prepayment Penalty: None - Min FICO: 660 - Closing Time: As fast as 5–7 days FAQs: - Q: How does the draw and funding structure work on a fix-and-flip loan? A: Cressida Direct funds up to 85% of total cost (LTC) — purchase plus rehab — and up to 85% of the after-repair value (LTARV), whichever is lower. The rehab portion is held back and released through a draw schedule as work is completed and inspected. Interest is charged Dutch — on the full committed loan amount rather than only the drawn balance — and payments are interest-only, so there is no principal amortization during the term. - Q: Can first-time investors qualify for a fix-and-flip loan? A: Yes. First-time investors are eligible, subject to standard program limits. Experienced investors can qualify for up to 85% LTC and 85% LTARV. A minimum 660 FICO applies; borrowers below 660 are subject to a prepaid interest requirement. - Q: Are foreign nationals eligible for the fix-and-flip program? A: Yes. Foreign nationals are eligible with a valid visa that remains in effect through the loan term and a reported FICO score. Individual vesting is available in all states except Georgia (GA) and New Jersey (NJ). - Q: Is there a prepayment penalty? A: No. The fix-and-flip program carries no prepayment penalty, so you can pay the loan off as soon as the project sells or refinances. Because interest is charged Dutch (on the full committed amount) and payments are interest-only, budget interest for the full commitment throughout the term. - Q: What credit score do I need to qualify? A: The minimum FICO is 660. Borrowers with a score below 660 may still be considered but are subject to a prepaid interest requirement. - Q: Which states and markets are excluded from the fix-and-flip program? A: The program is not available in Louisiana, Minnesota, North Dakota, or South Dakota. It is also unavailable in the Chicago MSA, the Detroit MSA, Baltimore City, and the St. Louis MSA. Individual vesting is available in every eligible state except Georgia (GA) and New Jersey (NJ). ## Ground-Up Construction URL: https://www.cressidadirect.com/programs/guc-residential A ground up construction loan for investors finances a new residential property of one to four units. Experienced investors can borrow up to 90% of cost and up to 75% of after-repair value. First-time investors are eligible at up to 75% of cost and 60% of after-repair value. The interest rate on the program sheet is 10.25%. The term is 6 to 12 months, interest-only, with interest charged only on funds that have been drawn. There is no prepayment penalty. A ground up construction loan is short-term financing for an investor who is building a new residential property, including a spec home construction loan for a house the investor will sell or hold. Cressida Direct's program covers a single-family residence, a townhome, a condo, or a 2–4 unit property. Experienced investors can borrow up to 90% of cost and up to 75% of the after-repair value. First-time investors are eligible at lower leverage. The interest rate on the program sheet is 10.25%. The term is 6 to 12 months, interest-only, and there is no prepayment penalty. ### Who can get a ground up construction loan for investors? The program is for experienced investors and for first-time investors. An experienced investor can go to 90% of cost (LTC) and 75% of after-repair value (LTARV). A borrower with no experience is limited to 75% of cost and 60% of after-repair value. One hundred percent of the construction funds are covered. Those funds are released on a draw schedule. A foreign national can use the program with a visa that remains valid through the loan term and a reported FICO score. Individual vesting is available in every state except Georgia and New Jersey. The minimum FICO score is 660. A score below 660 is subject to a prepaid-interest requirement. The sheet does not state how much prepaid interest that is. Start with [Apply](/apply) and a loan advisor will price the current scenario. ### What can a spec home construction loan finance? Eligible property is a new single-family residence, townhome, condo, or 2–4 unit residential building. A spec home is a new house an investor builds without an owner-occupant already in contract. That use sits inside the single-family category on the program sheet. The sheet does not publish a separate spec-home product with different numbers. The program is not available in Louisiana, Minnesota, North Dakota, or South Dakota. It is also not available in the Chicago metropolitan statistical area, the Detroit metropolitan statistical area, Baltimore City, or St. Louis. Those market limits are specific to this program. Cressida Direct's company footprint remains 44 states. ### How do the rate, draws, and interest work? The interest rate on the program overview is 10.25%. Interest is non-Dutch, which means it is charged on the funds that have actually been drawn, not on the full commitment from day one. That is the carrying-cost difference versus a loan that accrues on the entire amount before the slabs are poured. Construction funds are 100% covered and come out through a draw schedule. The overview does not say how many draws a typical build uses, and it does not say whether an inspector fee is charged per draw. The origination fee is 2%, with a $3,000 minimum. The doc fee is $1,995. The underwriting fee is $1,495, and that underwriting fee is waived when the appraisal is ordered before closing. The term is 6 to 12 months. Payments are interest-only. There is no prepayment penalty, so the loan can be paid off when the house is sold or refinanced without that penalty. A dollar minimum and maximum loan amount are not printed on the program sheet. A closing-day count is not printed either. Ask a loan advisor for both before you quote a borrower. ### How does ground-up construction compare with a fix-and-flip loan? A [fix-and-flip loan](/programs/fix-and-flip) finances the purchase and renovation of an existing residential property. Published fix-and-flip leverage is up to 85% of cost and 85% of after-repair value, at 8.9% to 9.9% interest-only, with no prepayment penalty, and closings as fast as 5 to 7 days. The term is 6 to 12 months. The minimum FICO score on that program is 660. Ground-up construction is for a building that does not exist yet. Leverage is measured on cost and on the completed value, with a lower ceiling for a first-time investor, a 10.25% rate, and interest only on drawn funds. Once the building is finished and leased, a [residential DSCR loan](/programs/investor-residential) is the permanent program for a 1–4 unit rental. This page does not require that refinance. It is the related long-term option. ### What fees does the program sheet list? The origination fee is 2% of the loan, with a $3,000 minimum. The doc fee is $1,995. The underwriting fee is $1,495, and it is waived when the appraisal is ordered before closing. There is no prepayment penalty. Loan-to-cost and loan-to-after-repair-value answer different questions. Cost is the budget to build. After-repair value is the appraisal of the finished property. An experienced investor has to fit under both 90% of cost and 75% of that finished value. A first-time investor has to fit under both 75% of cost and 60% of that finished value. The sample new single-family build later on this page uses the experienced ceilings and lands at 68.6% of after-repair value, which shows a deal can be inside the cost limit and still have room under the value limit. Highlights: - Up to 90% LTC - Up to 75% LTARV - Interest on drawn funds only - No prepayment penalty Parameters: - Max LTC: Up to 90% (75% with no experience) - Max LTARV: Up to 75% (60% with no experience) - Construction Funds: 100% covered - Interest Rate: 10.25% - Interest: On drawn funds only - Term: 6–12 months, interest-only - Prepayment: None - Min FICO: 660 - Loan Amount: Not published - Closing Time: Not published FAQs: - Q: What is a ground up construction loan? A: It is short-term financing for an investor building a new residential property. Eligible property is a single-family residence, townhome, condo, or 2–4 unit property. The loan is interest-only for 6 to 12 months. - Q: What leverage can an experienced investor get on a spec home construction loan? A: An experienced investor can borrow up to 90% of cost and up to 75% of the after-repair value. One hundred percent of the construction funds are covered and released on a draw schedule. - Q: Can a first-time investor get a ground up construction loan? A: Yes. A first-time investor is eligible, limited to 75% of cost and 60% of after-repair value. - Q: How is interest charged on a ground up construction loan? A: Interest is non-Dutch. It is charged on drawn funds only, not on the total commitment. The rate on the program sheet is 10.25%. - Q: Is there a prepayment penalty? A: No. There is no prepayment penalty. The term is 6 to 12 months and payments are interest-only. - Q: What credit score is required? A: The minimum FICO score is 660. A score below 660 is subject to a prepaid-interest requirement. The sheet does not state the prepaid-interest amount. - Q: Can a foreign national use a ground up construction loan? A: Yes, with a visa that stays valid through the loan term and a reported FICO score. Individual vesting is available in all states except Georgia and New Jersey. - Q: Where is a ground up construction loan not available? A: The program is not available in Louisiana, Minnesota, North Dakota, or South Dakota. It is also not available in the Chicago MSA, the Detroit MSA, Baltimore City, or St. Louis. ## Restaurant & Bar Financing URL: https://www.cressidadirect.com/our-program-restaurants-bars Restaurants and bars are among the hardest properties to finance through a conventional bank: special-use build-outs, seasonal and cash-intensive revenue, and tax returns loaded with legitimate deductions all count against a full-doc application. Cressida Direct finances food-and-beverage real estate through the same owner-occupied commercial program used across every eligible property type, qualifying operators on business deposits instead of tax returns. ### Why restaurants and bars struggle with traditional bank financing Food-and-beverage real estate sits at the intersection of everything a conventional lender dislikes. The buildings are special-use, with commercial kitchens, exhaust hoods, walk-in coolers, grease interceptors, and bar build-outs that don't translate cleanly to the next tenant. Revenue tends to be seasonal and cash-intensive, and margins swing with food costs, labor, and foot traffic in ways a credit committee finds hard to model. On top of that, most owner-operators run their businesses to minimize taxable income. The depreciation on equipment and tenant improvements, owner compensation, and everyday deductions are all perfectly legitimate — but they push the net income on a tax return down toward zero. A bank underwriter who starts from that bottom line sees a business that looks far weaker than it is, and routinely declines profitable, well-run restaurants and bars. Cressida Direct takes the opposite approach. Rather than reconstruct a tax return, we look at the deposits. Restaurant and bar real estate is financed through our owner-occupied commercial program, which qualifies borrowers on 12 months of business bank statements and treats the building as the specialized asset it is. ### What qualifies as an owner-occupied restaurant or bar "Owner-occupied" is about how the property is used, not a narrow list of building types. A restaurant or bar qualifies when the operating business — the entity that holds the lease today, or would own the building after closing — occupies the majority of the space and runs the concept from it. That covers a wide range of food-and-beverage real estate: - Full-service restaurants, cafes, and quick-service or fast-casual units. - Neighborhood bars, taverns, brewpubs, and tasting rooms. - Mixed-use buildings where the restaurant occupies the ground floor. - Free-standing pad sites with drive-thru or patio service. - Buildings the operating business owns through a related real-estate entity. ### How the financing works Because a restaurant or bar is financed under the owner-occupied commercial program, the underwriting starts with your business bank statements. We establish the real, recurring cash flow of the operation and confirm it comfortably supports the proposed mortgage — the same bank-statement methodology used across the program, tuned for the seasonality and cash intensity of hospitality. We also recognize that the collateral is special-use, so the appraisal, the location, the strength of the concept, and the operator's track record all factor into how a given building is evaluated. Exact rates, maximum loan-to-value, loan amounts, and eligibility criteria are published in one place — the Owner-Occupied Commercial program page — so this page stays focused on how the program applies to food-and-beverage operators rather than repeating numbers that could drift out of date. FAQs: - Q: Can I finance a restaurant or bar without tax returns? A: Yes. Restaurant and bar real estate is financed through Cressida Direct's owner-occupied commercial program, which qualifies borrowers on 12 months of business bank statements instead of tax returns. It is designed for food-and-beverage operators whose returns understate their real cash flow due to legitimate deductions and depreciation. - Q: Does a liquor license affect the financing? A: A liquor license is a valuable operating asset, but the loan is secured by the real estate rather than the license itself. We finance the building your bar or restaurant operates from; the license, along with permits and inventory, stays with your operating business. Owning the property protects the location your license and concept are tied to. - Q: Do you lend on special-use properties with commercial kitchens and bar build-outs? A: Yes. We understand that restaurants and bars are special-use properties with commercial kitchens, exhaust hoods, walk-in coolers, grease interceptors, and bar infrastructure. These add real value to an operating concept, and we underwrite the building as the specialized asset it is, relying on a defensible appraisal, the location, and the strength of the operation. - Q: Can I use financing to buy the building my restaurant currently leases? A: Yes — it's one of the most common reasons operators use this program. Buying the building your restaurant or bar currently leases converts rent into equity, locks in your location and build-out, and protects you from a landlord raising rent or declining to renew the lease. - Q: Where can I see exact rates, LTV, and eligibility for restaurant financing? A: All program terms — rates, maximum loan-to-value, loan amounts, and eligibility criteria — are documented on the Owner-Occupied Commercial program page, which is the authoritative source for the bank-statement program that finances restaurant and bar real estate. ## Automotive Property Financing URL: https://www.cressidadirect.com/our-program-automotive Auto repair shops, service centers, tire and lube stores, and body shops are classic special-use properties — built around lifts, bays, and equipment that a conventional lender views as hard to re-tenant. Add the deduction-heavy tax returns typical of an owner-operated shop and a full-doc bank often says no. Cressida Direct finances automotive real estate through the same owner-occupied commercial program used across every eligible property type, qualifying owners on business deposits instead of tax returns. ### Why automotive businesses struggle with traditional bank financing Automotive real estate is purpose-built. A repair shop is defined by its service bays, in-ground or above-ground lifts, compressed-air systems, and often a paint booth or alignment rack. Those features are exactly what an operator needs and exactly what makes a bank nervous, because the pool of alternative tenants for a building full of lifts and drains is small. Owner-operated shops also tend to run lean on paper. Equipment depreciation, owner compensation, and legitimate deductions drive reported net income down, so an underwriter who works from the bottom line of a tax return sees a marginal business — even when the bays are full and the deposits are strong. The result is that profitable, well-established shops get declined for reasons that have nothing to do with how the business actually performs. Cressida Direct finances automotive property through its owner-occupied commercial program, which qualifies the borrower on 12 months of business bank statements and underwrites the building as the specialized asset it is — the deposits and the real estate carry the file, not the write-offs. ### What qualifies as owner-occupied automotive property A property is owner-occupied when the operating business occupies the majority of the space and runs from it. For automotive real estate, that covers most of the ways owners hold their shops and lots: - Independent auto repair and service shops. - Tire, lube, muffler, and quick-service centers. - Collision and body shops with paint booths. - Franchised service centers and car washes. - Buildings the operating business owns through a related real-estate entity. ### How the financing works Because automotive property is financed under the owner-occupied commercial program, underwriting begins with your business bank statements. We establish the real, recurring cash flow of the shop or service center and confirm it supports the proposed mortgage — the same bank-statement methodology used across the program, applied to the way an automotive business actually generates revenue. On the collateral side, we evaluate the building as the special-use asset it is: the appraisal, the location and visibility, the condition of the equipment and site, and the operator's track record all matter. Exact rates, maximum loan-to-value, loan amounts, and eligibility criteria live on the Owner-Occupied Commercial program page, so this page stays focused on how the program fits automotive owners rather than repeating figures that belong in one authoritative place. FAQs: - Q: Can I finance an auto shop or service center without tax returns? A: Yes. Automotive real estate is financed through Cressida Direct's owner-occupied commercial program, which qualifies borrowers on 12 months of business bank statements instead of tax returns. It is built for owner-operators whose returns understate their real cash flow because of equipment depreciation and legitimate deductions. - Q: Do environmental or hazmat considerations affect automotive property loans? A: They can. Automotive sites often involve waste oil, solvents, paint, lifts, and sometimes historical or active underground storage tanks, so environmental condition is part of evaluating the collateral. In practice this may mean an environmental questionnaire or report during due diligence. It is a normal part of underwriting special-use automotive real estate rather than a disqualifier, and clean or well-managed sites move smoothly. - Q: Do you lend on special-use buildings with lifts, bays, and paint booths? A: Yes. Service bays, in-ground and above-ground lifts, compressed-air systems, alignment racks, and paint booths are exactly what make a building useful to an automotive operator. We underwrite the property as the specialized asset it is, relying on a defensible appraisal, the site condition, the location, and the strength of the operating business. - Q: Can I use financing to buy the building my shop currently leases? A: Yes — it's one of the most common uses of this program. Buying the building your shop, service center, or body shop currently leases converts rent into equity, protects the location your customers know, and avoids the cost and disruption of relocating heavy equipment. - Q: Where can I see exact rates, LTV, and eligibility for automotive financing? A: All program terms — rates, maximum loan-to-value, loan amounts, and eligibility criteria — are documented on the Owner-Occupied Commercial program page, which is the authoritative source for the bank-statement program that finances automotive real estate. ## Day Care Center Financing URL: https://www.cressidadirect.com/our-program-day-care-centers Day care centers, preschools, and early-learning academies are highly regulated, purpose-built properties — shaped by licensing rules, occupancy limits, and outdoor play requirements that a conventional lender rarely knows how to weigh. Combine that with the deduction-heavy tax returns typical of an owner-operated center and a full-doc bank often declines. Cressida Direct finances child-care real estate through the same owner-occupied commercial program used across every eligible property type, qualifying operators on business deposits instead of tax returns. ### Why day care centers struggle with traditional bank financing Child-care real estate is defined by regulation. A licensed center has to satisfy state and local rules on square footage per child, staff-to-child ratios, bathroom counts, exits and fire safety, and fenced outdoor play area — and those requirements shape the building itself. To a conventional lender, a property purpose-built for a licensed day care looks like a narrow, hard-to-re-tenant asset, which makes a credit committee cautious. Owner-operators also tend to show modest net income on their tax returns after depreciation on the build-out, staff costs, and legitimate deductions. An underwriter who starts from that bottom line sees a business that looks far weaker than a center running at or near licensed capacity actually is. The mismatch sinks strong applications from experienced operators. Cressida Direct finances day care and early-learning property through its owner-occupied commercial program, qualifying the borrower on 12 months of business bank statements and treating the building as the specialized, regulated asset it is — the deposits and the real estate carry the file, not the write-offs. ### What qualifies as an owner-occupied day care center A property is owner-occupied when the operating business occupies the majority of the space and runs from it. For child-care real estate, that spans a range of formats and building types: - Licensed day care and child-care centers. - Preschools, Montessori, and early-learning academies. - After-school and enrichment programs with a dedicated facility. - Converted homes, churches, or retail spaces operating as licensed centers. - Purpose-built centers with classrooms and fenced play areas. - Buildings the operating business owns through a related real-estate entity. ### How the financing works Because a day care center is financed under the owner-occupied commercial program, underwriting starts with your business bank statements. We establish the real, recurring cash flow from tuition and confirm it supports the proposed mortgage — the same bank-statement methodology used across the program, applied to the enrollment-driven revenue of a child-care operation. On the collateral side, we evaluate the building as a special-use, licensed property: the appraisal, the location, the condition and layout, and the operator's track record all factor in. Exact rates, maximum loan-to-value, loan amounts, and eligibility criteria are published on the Owner-Occupied Commercial program page, so this page stays focused on how the program applies to child-care operators rather than repeating figures that belong in one authoritative place. FAQs: - Q: Can I finance a day care center without tax returns? A: Yes. Child-care real estate is financed through Cressida Direct's owner-occupied commercial program, which qualifies borrowers on 12 months of business bank statements instead of tax returns. It is designed for operators whose returns understate their real cash flow because of build-out depreciation and legitimate deductions. - Q: How do state licensing and occupancy limits affect the loan? A: Licensing and occupancy limits shape the building and the business, but the loan is secured by the real estate, not the license. We finance the property your licensed center operates from; your child-care license, permits, and enrollment stay with your operating business. Because a license is tied to a specific approved facility, owning the building protects the location your license depends on. - Q: Do you lend on purpose-built child-care properties with classrooms and play areas? A: Yes. Classrooms sized to licensing ratios, dedicated bathrooms, secure entries, and fenced outdoor play areas are exactly what a licensed center needs, and we underwrite the building as the specialized, regulated asset it is — relying on a defensible appraisal, the location, the layout and condition, and the strength of the operating center. - Q: Can I use financing to buy the building my center currently leases? A: Yes — it's one of the most common uses of this program. Because a child-care license is tied to a specific approved facility, buying the building you already operate from converts rent into equity and removes the risk of a landlord who declines to renew, forcing you to re-license an entirely new site. - Q: Where can I see exact rates, LTV, and eligibility for day care financing? A: All program terms — rates, maximum loan-to-value, loan amounts, and eligibility criteria — are documented on the Owner-Occupied Commercial program page, which is the authoritative source for the bank-statement program that finances child-care real estate. ## Market Insights - [SBA 7(a) Loan Requirements in 2026: A Plain-English Checklist](https://www.cressidadirect.com/market-insights/sba-7a-loan-requirements-2026): SBA 7(a) loan requirements for 2026: eligibility, citizenship, size, credit, equity, DSCR, collateral and documents under SOP 50 10 8.1. - [SBA Loan Changes in 2026: The $10M Combined Limit, SOP 50 10 8.1, and New Ownership Rules](https://www.cressidadirect.com/market-insights/sba-loan-changes-2026): What changed in SBA 7(a) and 504 lending in 2026: the $10M combined limit, SOP 50 10 8.1 acquisition rules, and the new U.S. citizen ownership rule. - [DSCR Loans for Investors](https://www.cressidadirect.com/market-insights/dscr-loans-real-estate-investors): How DSCR loans qualify investors on property cash flow instead of personal income, including who they fit. - [DSCR Loans, No Tax Returns](https://www.cressidadirect.com/market-insights/dscr-loan-no-tax-returns): DSCR loans qualify investors on rental income rather than tax returns. See who qualifies and how to start. - [SBA 504 vs 7(a): Which Fits?](https://www.cressidadirect.com/market-insights/sba-504-vs-7a-commercial-real-estate): Compare SBA 504 and 7(a) on loan size, down payment, and eligible uses for owner-occupied commercial property. - [Bridge Loan Exit Strategies](https://www.cressidadirect.com/market-insights/bridge-loan-exit-strategies): Plan a bridge loan exit before you close: refinance, sale, or stabilization, and the mistakes that stall a payoff. - [Fix and Flip Financing in 2026](https://www.cressidadirect.com/market-insights/fix-and-flip-financing-2026): What fix-and-flip lenders review in 2026: experience, after-repair value, and project scope, without tax returns. - [Small-Balance Commercial Loans](https://www.cressidadirect.com/market-insights/small-balance-commercial-loans): How $200K–$5M commercial loans work, how investors qualify without tax returns, and which programs fit. - [Why Commercial Loans Get Declined](https://www.cressidadirect.com/market-insights/why-commercial-loan-deals-get-declined): Common reasons commercial and DSCR files are declined, and how brokers pre-qualify a package before underwriting. - [Package a Commercial Loan File](https://www.cressidadirect.com/market-insights/broker-deal-readiness): Documents and packaging steps that help a commercial loan file move through underwriting and close. - [The 2026 CRE Maturity Wall](https://www.cressidadirect.com/market-insights/cre-maturity-wall-2026): What the 2026 CRE maturity wall means for borrowers, brokers, and referral sources.