We were able to close a number of loans in the last few weeks even with the holidays and some Covid issues amongst myself and the staff. Here are a few of them so you can get a feel for breadth and depth of the funding we have available even with the current crazy environment ... we are the place to go when the banks say 'no'!
$1.2 Million SBA Loan Business ONLY Purchase of a Bakery
We can do large business only loans with NO REAL ESTATE up to $5 Million dollars. Most banks will not go above $500,000 in what they call "Goodwill". That is the value of the cash flow of the business-often 3-5 times net profits. If that number is greater than $500,000 many banks will pass on that loan EVEN SBA. We can get them done up to $5 Million as evidenced by this funding last week. This loan was DENIED by another bank before they got referred to me. WHEN YOU HAVE A BUSINESS LOAN, CALL THE BUSINESS EXPERTS.
$1.08 Million CASH OUT PRIVATE MONEY LOAN on an empty commercial building.....
Location: Atlanta, GA
The borrower had run out of money renovating a commercial building in Atlanta. The appraisal came in much lower than she believed, less than $1 million. So we grabbed another investor residential property as collateral to get to the collateral coverage we needed. There was not enough cash flow to support the deal, but the borrower had good credit and we believed in her. So we escrowed 6 months of payments and bumped up the loan amount more to make it happen. Not a lot of lenders will mix collateral types like that (single family and commercial) or do a deal with no cash flow at a loan amount that exceeds the value of the main commercial property. We knew the market and we believed in the borrower. WE ARE A STORY LENDER and will go outside the box if we can understand the deal and the exit. It doesn't get any easier than that. IF you have a private money deal or bridge deal you need funded, give us a call. We go from $100,000 up to $20 Million.....call today!
$239,000 Franchise Start-up at 85% LTV
Of course, we did this start up SBA loan. We can do start-ups even to 90% LTV if they are VERY strong but usually can always get them done at 80% or higher. In this environment with Covid risks and others, a lot of banks are pulling back on the riskier loans like start ups but we have a bunch of aggressive lenders that are still doing them. I generally do at LEAST 2 start up loans a month, every month. Even on start-ups, we are the place to go-call 512-354-5949 or get started by filling out this form
P.S. HOT OFF THE PRESS!
We now have SBA loans with NO MONEY DOWN On real estate based deals! That's right, for example, if you are a business and want to buy the building you are renting for $1 Million, we can loan you $1 Million! This is a game-changer! We never charge any broker points on our SBA Loans....it all adds up to one heck of a deal. So call me today at 512-354-5949 or get started by completing this form.
Give me a CALL TODAY at 512-354-5949 or get started by filling out this form!
Do you lend in all states?