Preferred Capital Alliance Inc., headquartered in Pinellas Park, Fla., has introduced two small-balance commercial mortgage programs. According to the company, the programs are designed to benefit small-business owners and investors interested in acquiring or refinancing office, retail, warehouse, light industrial, mixed-use, multifamily, mobile home parks and other properties.
The maximum loan amount for the full-document program is $1.5 million, while the maximum for the stated-income program is $1 million. Both programs offer a cash-out option for refinancing, giving borrowers an opportunity to reinvest into their business, remodel their current location, expand business, acquire a rental property or consolidate business debt, Preferred Capital Alliance notes.
