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Long form editorial guides on CMBS, bridge, DSCR, SBA, mezzanine, data center, hotel, and NNN financing. Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. No marketing fluff. No upsells. Just the structural detail you need to make a real capital decision.
How franchise acquisition loans actually work, SBA 7(a) goodwill financing, the SBA Franchise Directory, equity injection and seller notes, brand level default data, 2026 rates, and the 10 step plan to apply and close.
Read the full guide →Which franchises are easiest to get SBA financing for, ranked by lender appetite, default history, and FDD quality. 12 brands across QSR, service, fitness, childcare, and retail, plus the criteria lenders actually use.
Read the full guide →What a business lending advisor actually does, the assess/package/place workflow, how it differs from a broker or loan officer, fee structures, the 7 questions to ask, red flags, and the outcomes to expect.
Read the full guide →How invoice factoring works for manufacturing companies, the 7 step process, advance rates (70% to 90%), fee structures, recourse vs. non recourse, UCC lien issues, qualification, and how factoring compares to ABL and SBA.
Read the full guide →SBA loans are government guaranteed business loans for owner occupied real estate; DSCR loans are non QM private credit products for investor real estate. Owner occupancy rules, the 1.25x floor, real cost comparison, and why most borrowers apply to the wrong one.
Read the full guide →Commercial Mortgage Backed Securities (CMBS) explained, how conduit loans work, who qualifies, current rates, and the defeasance trap every borrower needs to understand before signing.
Read the full guide →Bridge loans solve a specific problem in commercial real estate, buying speed, capital flexibility, and timing the transition to permanent financing. Complete guide with rates, terms, and exit strategies.
Read the full guide →DSCR (Debt Service Coverage Ratio) loans let investors qualify on property income, no W-2, no tax returns, no personal income verification. How DSCR works, what multiples lenders use, and when it's the right structure.
Read the full guide →Bridge vs CMBS head to head, rates, terms, LTV, close speed, recourse, prepayment. The decision framework experienced sponsors use to pick between transitional bridge and permanent CMBS.
Read the full guide →DSCR vs conventional Fannie Mae investor loan, rates, qualification, LTV, speed, entity structure. Decision framework for investors scaling past the 10 loan conventional cap.
Read the full guide →SBA 7(a) vs SBA 504 for hotel acquisitions, LTV, rates, flexibility, close time, and recourse compared. Decision framework for hotel owner operators picking between the two flagship SBA programs.
Read the full guide →Bridge and hard money are often conflated but they're different products. Bridge is institutional short term debt for transitions; hard money is asset based private lending for speed and credit constrained situations.
Read the full guide →Mezz is debt (UCC pledge + fast foreclosure remedy). Pref equity is equity (priority distributions + contractual remedies only). Tax, pricing, and agency debt rules decide which fits.
Read the full guide →CMBS conduit vs bank balance sheet permanent debt. Rate, terms, recourse, prepayment, and relationship factors compared, with the specific scenarios where each structure wins.
Read the full guide →Equipment loan, operating lease, capital lease / $1 buyout, SBA 504, sale leaseback. Tax treatment, Section 179 eligibility, cash flow impact, complete decision framework.
Read the full guide →DSCR is long term institutional debt for rental holds; hard money is short term private lending for fix and flip and rehab. The BRRRR pattern combines both. Here's the framework.
Read the full guide →Bridge to DSCR is the standard investor transition from acquisition / rehab financing into long term rental debt. Timeline, seasoning rules, cash out mechanics explained.
Read the full guide →Stuck on a 12 month bridge or hard money loan? The Hard Money Exit Strategy refinances short term, high rate debt into 30 year fixed DSCR rentals. Property eligibility, 1.05x DSCR underwriting, 75% LTV refi mechanics, timeline, and the 5 reasons banks decline these deals.
Read the full guide →Graduate stabilized commercial real estate ($2M to $50M+) from short term bridge debt or restrictive SBA loans into 10 year fixed non recourse CMBS conduit financing. 1.25x DSCR + 9 to 11% debt yield underwriting, SPE entity structure, 60 to 90 day close, plus the 5 reasons banks decline these refinances.
Read the full guide →Decision framework: SBA 504 wins on equity (10% down, 90% LTV) for owner operators. CMBS wins on non recourse + 10 yr fixed + cash out for stabilized investor properties. Plus the SBA to CMBS graduation path institutional sponsors use to scale portfolios.
Read the full guide →Companies with strong commercial customers carry payroll, materials, and overhead while waiting net 30 to net 90 for AR. B2B factoring + ABL close the gap. Industry specific underwriting (construction, staffing, trucking, oilfield, manufacturing, healthcare, government, distribution), recourse vs non recourse, plus the graduation curve from spot factoring to ABL revolver.
Read the full guide →Branded hotels carry a structural capital stack pattern: bridge during 24 month PIP execution, in house brand FF&E financing, refinance into 10 year fixed non recourse CMBS at 7.0 to 8.5% post stabilization. PIP scope by flag (Marriott TID, Hilton CRP, Hyatt, IHG, Choice, Wyndham), capex per key, rooms out of order management, and the 3 constraint CMBS underwriting (DSCR/LTV/debt yield).
Read the full guide →MARC ($5M revolving credit, up to 20 year term, Prime + 2.75% max) is the SBA's first 7(a) variant designed exclusively for U.S. manufacturers. But MARC underwriting is industry specific. Working capital cycles, collateral mix, customer concentration tolerance, and certification requirements differ by NAICS sub sector. Strategy guide across food (311), plastics (326), fabricated metal (332), machinery (333), transportation equipment (336), chemical (325), electronics (334), and miscellaneous manufacturing (339).
Read the full guide →Merchant cash advances are a structural mismatch for B2B businesses on net 30/60/90 payment terms. Invoice factoring, ABL, and SBA working capital are better. Decision framework + cost comparison.
Read the full guide →The counter intuitive prepayment mechanism that shocks first time CMBS borrowers. Low rates make defeasance EXPENSIVE. Here's the math, scenario framework, and how to model cost before signing.
Read the full guide →All 4 SBA programs explained, eligibility, rates, terms, LTV, timelines. Decision framework for owner operators picking between programs. SBA MARC rural area enhancement detailed.
Read the full guide →UCC pledge structure, capital stack positioning, pricing dynamics, and the worked example showing 8 to 9 percentage point IRR boost mezz delivers on typical value add deals.
Read the full guide →Every commercial deal stacks senior debt + mezzanine + preferred equity + sponsor equity. Here's how each layer prices, risks, and sequences in default, the primer every sponsor needs.
Read the full guide →Data center capital stacks across construction, mini perm, mezz, JV preferred equity, CMBS SASB, ABS. Hyperscaler tenancy + AI infrastructure economics + the major capital providers per stage.
Read the full guide →All 5 hotel financing structures explained, when each fits, rate ranges, owner operator vs institutional sponsor decision tree. PIP financing paths included.
Read the full guide →Walgreens, CVS, Dollar General, Starbucks, 7 Eleven NNN financing. Tenant credit drives pricing. As of 26 August 2026 Walgreens is unrated. CVS is BBB. 1031 exchange mechanics and ground lease structures.
Read the full guide →Six equipment financing structures explained, conventional loan, $1 buyout lease, FMV operating lease, SBA 504, vendor financing, captive financing. Section 179 + 100% bonus depreciation under OBBBA 2026.
Read the full guide →May 2026 institutional snapshot, $200B+ CMBS maturity wall, delinquency by property type (office 10.5%+, multifamily 4.9% rising), 10Y/spread/all-in rate forecast, capital flowing TO vs AWAY FROM each asset class, standard $50M+ stacks.
Read the full guide →How a commercial capital stack layers senior debt, mezzanine, and preferred equity, where each sits in priority, how it prices, and how the pieces sequence in a real deal. The structural primer sponsors need before filling a gap in the stack.
Read the full guide →A full worked example of a $50M hotel capital stack, senior CMBS, mezzanine, preferred equity, and sponsor equity sized layer by layer, with the returns math and the timing of the bridge to CMBS take out.
Read the full guide →The specific issues that sink a DSCR loan before closing, sub 1.00x coverage, short term rental income, lease gaps, property condition, entity structure, seasoning, and cash out limits. Catch them before you apply.
Read the full guide →DSCR loans are built for investor property, but owner occupied and partially leased buildings sit in a grey zone. How lenders treat mixed occupancy, what qualifies, and when a different structure fits better.
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