Small Balance Commercial Real Estate Bridge Loans

Formed in 2008, Wilshire Finance Partners is a portfolio lender funding bridge loans up to $7MM secured by multifamily and commercial real estate nationwide, with terms up to 3 years. We can accommodate special situations including reverse 1031 exchanges, probate, repositioning loans, rehabilitation loans, debt restructuring, discounted payoffs, and other situations and opportunities.

We DO NOT Lend on: Ground Up Construction, Land, Retail, Hospitality and Special Purpose properties

Senior Bridge Loans: Our maximum LTV is 65%. For refinances, we will only take out a conventional loan, not another bridge loan.

2nd Mortgages: Equity cash out loans in 2nd lien position behind a bank 1st mortgage, up to 65% CLTV

Property Geographic Area Details
Nationwide except Alaska
Loan Amounts
$1,000,000 to $7,000,000
Interest Rates
8.9% to 10.9%
Loan Terms
12 months to 60 months
Origination Fees
2% to 2.5%
Lien Position
1st, 2nd
Collateral Types
  • Residential Property
  • Commercial Property
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types

  • Assisted Living Facility
  • Commercial Condominium
  • Healthcare
  • Industrial
  • Mixed-Use
  • Multifamily
  • Office
  • Senior Housing
  • Storage Facility
  • Student Housing

Loan Types

  • Commercial Bridge

Specialty Loan Types

  • 2nd Mortgage Equity Cash Out
  • Reverse 1031 Exchange
  • Partner Buyout
  • Discounted Note Payoff
  • Bankruptcy Resolution

Junior Lien Loan Amounts

$500,000 to $2,500,000

Junior Lien Interest Rates

11% to 14%

Junior Lien Loan-to-Value

65%

Junior Lien Loan-to-Cost

65%

Junior Lien Origination Fees

3% to 3%

We Fund Junior Position Loans

Rarely

Junior Lien Types

  • Purchase
  • Refinance
  • Equity Cash Out
  • Preferred Equity
We offer equity cash out 2nd mortgages up to 65% combined LTV. The 1st mortgage must be held by a bank or institutional lender. We will not provide a 2nd behind a private lender. Loan terms for 2nd cash out range from 1-3 years.

Max Loan-to-Purchase Price

65%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Another Investment Property

Deposit Required

Case-by-Case. The required deposit is determined by the transaction requirements and disclosed in the Letter of Intent.

Site Visit Fee

Case-by-Case. The required deposit is driven by the actual costs of the site visit and disclosed in the Letter of Intent.

Underwriting Fee

Based on loan amount requested

Documents Fee

Cost of loan document preparation.

Settlement Fee

Actual cost of settlement agent

Inspection Fee

Actual cost of 3rd party reports, if required.

Escrow Fee

Actual cost of escrow agent services.

Title Fee

Actual cost of ALTA Lender's Policy with endorsements.

Credit Report Fee

Actual cost of credit reports for borrowers and sponsors.

Appraisal Fee

Actual cost of 3rd party appraisal

Environmental Report Fee

Actual cost of environmental report, if required.

Fees which are mandatory for all new borrower clients

  • Deposit
  • Underwriting Fee
  • Documents Fee
  • Settlement Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee

Fees which are paid to a third party company

  • Due Diligence Fee
  • Legal Fee
  • Settlement Fee
  • Appraisal Fee
  • Inspection Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee
  • Background Check Fee
  • Environmental Report Fee
  • Renovation or Construction Funds Draw Fee

Details and Requirements

Typical Closing Time (Days)

20

Fastest Closing Time (Days)

5

Payment Structure
  • Interest Only
Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Typical structure is a participating loan with a preferred return.
Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
Documentation Required
  • Credit Report
  • Bank Statements
  • Loan Application
Personal Guaranty (Recourse) Required
Sometimes
Credit Check Required

yes

Appraisal Required for Residential Property

Do Not Lend on Residential Property

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Do Not Lend on Residential Property

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Legal Disclaimer

This communication is intended for Real Estate Professionals Only, is not a loan approval, agreement or commitment to lend, and is for discussion purposes only. Wilshire Finance Partners, Inc. may make substantial and material revisions to the information contained in this communication. Rates and terms are subject to change without notice. Loans are made by Wilshire Finance Partners, Inc., CA DRE Lic. 01523207 and CA DBO Lic. 603K729; WFP Income Fund, LLC, CA DBO Lic. 603K726; WFP Opportunity Fund, LLC, CA DBO Lic. 603K725.

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Proven, Professional, Performance®

Formed in 2008, Wilshire Finance Partners, Inc. (“Wilshire”) is a California corporation licensed by the California Department of Real Estate, Brokers License Number 01523207, and the California Department of Business Oversight, Finance Lenders license number 603K729. Since its formation, Wilshire has been engaged in the residential and commercial real estate lending and investment business. Building upon the success of its existing lending and investment platform, in September 2013 Wilshire launched and manages two real estate funds, the WFP Income Fund, LLC (the “Income Fund”) and the WFP Opportunity Fund, LLC (the “Opportunity Fund”). This structure provides a robust funding platform for borrowers and strong risk-adjusted returns for investors.

Wilshire combines an entrepreneurial approach, institutional sophistication and discretionary capital inside a boutique environment to deliver outstanding service to our origination partners and affiliates.

We are committed to a culture of Teamwork, Excellence and Integrity, each of which we believe will result from living Wilshire’s core values.


  • Property Types
    • Apartment / Multifamily (5+ units)
    • Office
    • Mixed Use
    • Light Industrial
    • Warehouse
    • Senior Living
    • Other Income Property
    • NO lending on land, A&D, ground up construction, retail, hospitality, recreational, gas stations, car washes, single family, 2 to 4 unit, or special purpose properties.
  •  Transaction Types
    • Purchase
    • Refinance
    • Cash Out Refinance
    • Stabilization
    • Repositioning
    • 1031 Exchange (forward and reverse)
    • Special Situation Lending (e.g. probate, debt restructuring, discounted payoffs and others)

Wilshire Finance Partners, Inc., CA DRE Lic. 01523207 and CA DBO Lic. 603K729; WFP Income Fund, LLC, CA DBO Lic. 603K726; WFP Opportunity Fund, LLC, CA DBO Lic. 603K725

License

CFL #603K729, CUSIP #93099B102, CA DRE #01523207

Company Size (Number of Employees)

6

Year Established

2008

Associations

  • Mortgage Bankers Association - Member
  • California Mortgage Bankers Association - Member
  • California Mortgage Association - Member

Office Locations

1400 Newport Center Drive, Suite 250, Newport Beach, California 92660

Primary Capital Source
  • Debt Fund We Manage
Alternative Capital Sources
  • Own Funds
  • Bank Credit Line
Loan Structure for Majority of Loans
  • Own Balance Sheet
Percentage of Loans Secured by Commercial Property

100%

Our Team

Don Pelgrim

CEO

CA DRE Broker - 00944722

Funded Deals

Get In Touch

Wilshire Finance Partners pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
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BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$1,000,000

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