does anyone know any good big commercial lenders

Question

Im looking for lenders that can do large loans for gas staions/hotels i have a property worth 3 million, im looking for the highest LTV for refi/cashout non recourse.

Scott E. · Answer

There are plenty of lenders right here on this forum who would do a loan of this caliber. A loan of $2-$3 million is not that big. Although the non-recourse bit is going to be a challenge.

But here's my feedback... re-read your post and think about your grammar. Not trying to be the grammar police here but do you really expect somebody to lend you $2 million dollars+ based on this post? You need to be organized, professional, detailed, and polished when you're looking for money.

Henry Clark · Answer

Do you have a track record in this type of REI?  Do you have great personal financials and tax returns?  Do you have a profit a set of financials?

If you don’t have the above they won’t work with you.  Commercial is more about the person than it is the property.  Commercial doesn’t normally fit the fix flip or other housing models.

Nick Belsky · Answer

@Ethan Auciello

I work with quite a few syndications, family offices, and private lenders who will do non-recourse Cash Outs with Hospitality and Auto.  Depending on the type of terms you are looking, cash flow, and sponsor's strength, LTVs can be maxed to 65-70%.  Most will be of interest to lenders in the 50-60LTV range with better terms.

$3MM is not large.  Many of my lenders won't even look at deals under $10MM, some $50MM.  $2MM-$5MM can be harder to place as its a thin range for many lenders.

Cheers!

Ronald Rohde · Answer

Large and $3,000,000 commercial loan dont' belong in the same sentence. You're lucky to get 50-60% full recourse if you have a track record of these assets.

Chris Seveney · Answer

the last comment will basically eliminate a significant number of lenders. Commercial loans are extremely difficult to come by nowadays and throw in non recourse would make it that much harder.

does anyone know any good big commercial lenders

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