River Bend Funding
Ground Up-Fix & Flip-Bridge Lending
About Us
Our Story
Mike Trepicchio is a seasoned commercial real estate lender with over 25 years of experience. Mike was on his first construction site at the age of 5 and fell in love with the smell of sawdust and concrete and spent every day watching and helping on the job. Since then, Mike has been involved in financing construction projects in the Tri-State area and has taken that experience and expertise into River Bend Funding.
Who We Are
River Bend Funding is a commercial real estate lender that provides competitive financing for ground up residential properties for sale or rent, fix & flip for sale or rent, and bridge loans, for acquisition and stabilization.
Our Vision
Our mission is to provide exceptional service and bring a level of expertise and knowledge to advise our clients through both the lending and development process. We offer a competitive, comprehensive line of products to serve this segment of the real estate development market.
What We Offer
Ground Up Construction
Maximum Loan To Cost:
Up to 75% of the lower of land value or purchase price. 60% if unpermitted, plus 100% of construction
Max 85% of total project costs.
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing.
Maximum Loan To Arv:
Up to 70%
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Interest rate:
Pricing competitive
Recourse:
Full Recourse
Reserves/Escrows:
Interest Reserve:
Minimum 1 month
Experience:
Previous real estate experience required: 1-2 Ground ups
GCs if experience and permits tie to Ground ups Guarantors with no experience permitted on a case by case basis
Loan Amount:
Min: $50,000
Max: $5,000,000
Term Length:
12 months, Up to 18 at Lender Discretion
Property Count:
Min: 1
Max: 2
Permitted Property Types Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties
Commercial Property
Co-ops
Vacation or Seasonal Rentals
Rural properties
Ground Up
Experienced Developer Program
3 plus Similar past projects
Maximum Loan To Cost:
Up to 75% of the lesser of land value or purchase price. 60% if unpermitted, plus 100% of construction
Max 90% of total project costs.
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post closing.
Maximum loan to Arv:
Up to 70%.
​
Interest rate:
Pricing competitive
Recourse:
Full Recourse
Reserves/Escrows
Interest Reserve:
Minimum 1 month
Minimum 6 months full boat IR funded with initial loan amount for 90% LTC loans.
Experience:
Previous real estate experience required.
3+ similar Ground-up builds + heavy rehabs with expansion. Professional developer / builder.
Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria.
Loan Amount:
Min: $50,000
Max: $5,000,000
Term Length:
12 months, Up to 24 at Lender Discretion.
Property Count:
Min: 1
Max: 10
Permitted Property Types Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+unit multifamily properties
Commercial Property
Co-ops
Vacation or Seasonal Rentals
Rural property
Fix & Flip
Term:
12 months standard
18 month option at lenders discretion.
Rehab/Construction Financing:
Funding up to 100% rehab budget up to % Approved LTV of Total Costs.
Maximum Loan-To-Cost:
Cost Is Purchase Price Amount Up to 90% (LTC).
Maximum Loan-To-Value:
Up to 70% After Repair Value (ARV) (LTV)
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Interest rate:
Pricing competitive
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Recourse:
Full Recourse
Loan Amount:
$50K - $5MM
Loan Purpose:
Rehab loan for non-owner occupied residential investment property.
Borrower Type:
Entity required
Property Types:
Non-Owner Occupied:
Attached or detached SFR
2-4 unit properties
Townhomes
Condos
Minimum Experience:
No prior experience required
Multi family Bridge
Markets:
Primary, secondary and tertiary.
Loan Term:
12 to 24 months
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Interest rate:
Pricing competitive
Recourse:
Loans ≤ $2MM: Full Recourse
Loans > $2MM: Full Recourse or
Limited Recourse with bad-boy carve outs. Recourse determined on a case by case basis.
Completion Guaranty/Reserve Replenishment Guaranty when applicable
Loan Types:
Interest Only
Fixed or Adjustable Rates
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Experience:
Prior multifamily property ownership experience required.
Loan Amount:
$500K - $5MM
Loan Purpose:
Multifamily bridge loans for purchase or refi of small and middle-market investment properties (5+ multifamily units) that are stabilized or in need of renovation/value-add.
Property Type:
5+ unit Multifamily, min $35,000 per door
Acceptable properties are Class A, B and C grade. Class D properties will be considered on a case-by-case basis
Maximum Leverage:
Up to 75% of purchase price and 100% of renovation costs subject to 80% total (LTC) - 70% of stabilized value (LTV)
Cash-out refi 65%
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