Lev Lending

Frequently Asked Questions

Our loan terms & parameters


As high as 75%


Up to 10 years


Non-recourse with standard carve-outs

Repayment Capacity

DSCR as low as 1.15x


Prepayments allowed

Loan Size

Starting at $500k


First-lien deed of trust or mortgage

Loan Term

Up to 10 years


Up to 30 years

Lease Term

At least 7 years of lease term remaining

Property Types

Single-tenant retail properties


All U.S. jurisdictions (certain restrictions apply)

Lease Types

Triple-net (and selectively double-net)

Tenant Types

Rated IG by an NRSRO; or national QSR brands
with strong credit operators

Frequently asked questions

Does my property qualify?

Lev Lending is currently focused on single-tenant, triple-net retail properties with high-quality tenants. Throughout 2022, we will be expanding our lending services to additional asset types.  

Have a property that’s not quite the right fit? Send us an email, and we’ll see what we can do!

Is Lev Lending separate from Lev Marketplace?

Lev Lending is a new set of offerings from Lev, in addition to our first offering, Lev Marketplace.

Is Lev Lending competing with other CRE lenders?

Our mission at Lev is to help customers get the right financing with the best experience. We are committed to delivering a transparent and modern financing experience to commercial real estate owners, regardless of the lender they choose.

Lev Lending is our direct offering. We are building technology and products that will enable more lenders to offer a similarly delightful experience.

What states do you lend in?

We currently lend in all U.S. state jurisdictions, with certain limitations in AZ, CA, NV, ND, SD, and VT.

What is your typical timeframe for closing?

Most of our loans close in 30-45 days. Whether you are working on an acquisition or refinancing, we’re excited to help you meet any timing targets you might have.

What are the associated fees (closing, legal, etc)?

We work hard to keep all fees related to Lev Lending transactions as low as possible while making sure you get great service.

If you’d like to receive a detailed breakdown of typical fees, please click here.

Do you lend on properties leased to franchisees for quick service restaurants?

Lev Lending is happy to lend on properties where the tenant is operated by a strong Quick Service Restaurant franchisee under one of the largest 15 QSR brands in the US. Our typical guidelines for a qualifying franchisee include:

  • Franchisee must either (a) own and operate at least 100 individual stores or (b) be one of the 5 largest franchise operators for a qualified QSR brand
  • Franchisee must have at least 10 years of experience in operating QSR franchises
  • Franchisee must provide a corporate guarantee that is equal to our greater than the total rent due over the duration of the lease
  • Borrowers must submit financial statements for the franchise tenant as of no more than 90 days prior to the term sheet execution date. Lev will underwrite the financial creditworthiness and stability of the tenant as part of its credit review process, and not all franchise tenants that meet the above criteria will qualify

What is an SPE and why is it necessary when getting a loan from Lev Lending?

A Single Purpose Entity (SPE), is an entity that is formed to own a single property. In addition to the protections that a typical Limited Liability Company (LLC) provides, an SPE further protects the property from being impacted by the sponsor’s other assets. 

Lev Lending requires SPEs to be formed on all of our non-recourse loans. This protects both the borrower and the lender. Should anything happen on the borrowing property or any of the sponsor’s other properties, the legal responsibility would be contained to the SPE. 

Are loans from Lev Lending compliant with a 1031 exchange?

Though you should consult an attorney for legal and tax advice, Lev Lending works hard to ensure that we accommodate all of our clients’ needs with regards to 1031 exchanges and other tax or legal considerations.

Do you work with external brokers?

Yes! At Lev Lending, we receive a large portion of our deals from external investment sales or financing brokers. For more information, please check out our Partners page.

Do you have to be a US Citizen to receive a Lev Lending loan?

No! You are not required to be a U.S. citizen to receive a Lev Lending loan, but just remember that loan documents will need to be signed and notarized either within the U.S. borders or at a U.S. embassy,

What information do you need during the diligence process?

We make it easy for you to get ready for closing, by letting you know upfront what to expect. You can download our list of documents needed for the due diligence process here

Additionally, be prepared to provide basic personal identifying information for all guarantor(s), sponsor(s), and beneficial owner(s), as required by the USA Patriot Act so that we can conduct basic “Know Your Customer” due diligence.

Does Lev Lending accept past property reports (ie: Phase 1, etc)?

Yes! During the due diligence stage, we undergo a thorough review process of any previous property reports you are able to provide. This also includes consulting third-party experts to ensure that you don't have to pay for full new reports unless absolutely necessary.

Unless deemed otherwise necessary following our review of your old property reports, you can likely expect the following:

  • Appraisal: no new report if you have one that was completed within the last 6 months
  • Environmental: no new full Phase 1, thanks to our data-driven environmental report alternatives
  • PCA: no new PCA if the build is less than 10 years old
  • Zoning Compliance Report: no new Zoning Report if the build is less than 10 years old

When do you lock the interest rate?

On most deals, interest rate is locked right before the closing of the loan. In certain circumstances, we may be able to accommodate locking the interest rate earlier in the process, though there may be associated fees.

We hope to offer a low-friction early rate lock option in 2022.

Get additional loan details and requirements in PDF

Lev Lending Inquiries

For general inquiries about Lev Lending, please email levlending@lev.co.

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