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Gateway Mile Loan Fund

Innovation + investment = economic success
 
Downtown Elkhart offers more opportunity than ever: restaurants, historic storefronts, and highly desirable living spaces. We’re making it possible to assist investors like you with the capital needed to act quickly on your ideas


Downtown Elkhart Inc.
574-295-8701
Gatewaymileloanfund.com
 
Burl Troyer
574-361-0809
burltroyer@yahoo.com
 
First Mortgage
Real Estate Collateral
Maximum loan amount $200,000
Max term 5 years
Max amortization 15 years
 
  • Prime +1.0% (with 4.5%as floor)
  • Up to 90% appraised value
  • Fees = 1% of loan plus due diligence costs (can be rolled into amount of loan)
  • 12-months interest only for projects involving major renovation
 
 
Small Business Loan
Equipment and tenant improvements
 
Maximum loan amount $50,000
Max term 5 years
Max amortization 7 years
 
  • Prime + 2.0% (with 5.5% as floor)
  • Up to 90% loan-to-value or cost
  • Fees = 1% of loan plus due diligence costs (can be rolled into amount of loan)

Rate information current as of September 2015
 
 
 
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