Can you finance environmentally sensitive property types such as auto repair shops and dry cleaners?
Yes, but an environmental questionnaire must be completed and submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. However, the cost is substantially less than that of a typical Phase I environmental report. By offering this environmental screening process, the Satori Signature Loan program can finance riskier properties that many other lenders will not.
