• Loan Criteria

    Mortgage Guidelines

    Protective’s Goals: In 2018 Protective expects to commit approximately $1.3 Billion on commercial real estate loans. Below is an outline of Protective’s lending guidelines:


    1. Loan sizes $3,000,000 to $50,000,000

    2. Forward Rate Lock Available: up to 12 months with rate premium

    3. Maximum Loan-to-Value 75% and Minimum Debt Service Coverage of 1.20 (25 year amortization)
    4.  
    5. Loan Types:

      • Long-term, fixed rate: fully amortizing or balloon structure
      • Short-term, floating rate: prepayment flexibility; stabilized properties only
      • Construction to permanent
      • Participation

    6. We finance the following property types:

      • Anchored Shopping Centers: Centers are anchored by one or more creditworthy regional or national tenants on long-term leases.
      • Freestanding Single-Tenant: Properties with long-term leases to creditworthy tenants.
      • Medical Office Buildings: Properties that are doctor-owned with a lease guaranty or have a long-term lease to a creditworthy tenant. Preference is shown to properties in close proximity to a hospital campus.
      • Industrial Warehouse/Distribution properties: Properties with long-term leases (+10 years) to creditworthy tenants or owner-occupants. Preference is shown to concrete tilt-up, minimum 28 foot ceiling heights and 15% or less office finish in industrial park locations.
      • Multi-family: Higher quality properties with stable operating history and experienced management.