Co-signing Loans for Commercial Property
Hi there. I have a *friend* who is in a contract to purchase a $500k. This friend has 20% downpayment. At last minute the bank says “sorry but due to coronavirus we are not looking to lend to me right now, but if I bring in a co-signer they will look at their credit and will potentially consider doing the loan.
the property is 100% rented and brings in $6K
My question is... If no other money is needed. Just need the financial backing to get loan approval
Is there a company out there that would consider co-signing if they don’t have to bring any money to table?