HARD MONEY COMMERCIAL LOANS
We’ve provided hard money commercial loans in southern California (privately funded loans) on investment and owner-user properties since 1993. We now offer our great service Nationwide and are able to help many more business owners and investors out of tough situations when there is nowhere else to turn for a commercial loan refinancing or financing.
We have a special program for Jumbo Hard Money for California, Arizona and Nevada for an unbelievable low interest rate of 7% to 8%. This rate is unheard of for loans of $1,000,000 to $25,000,000 in these three states. This is a bridge loan of one year with a possible extension of one year.
The reasons why someone comes to us are as varied as reasons to borrow money on commercial real estate. It’s the only financing vehicle available that can provide funding when cash is needed quickly such as beating a dead-line to payoff a bank loan when the bank can’t or won’t rewrite the existing loan.
Why won’t the bank refinance your loan? Governing rules have tightened, requiring banks to hold more cash on hand and stricter lending rules have been put in place to prevent potentially ‘risky’ loans. Not only is the banking industry looking at your Debt Service Coverage Ratio (DSCR) but your personal and any business partner’s Debt To Income Ratio (DTI) even if title is held in your corporation or LLC’s name. Finally, let’s face it, FICO scores matter more than ever in conventional commercial loans. In the past few years many stellar business owner’s and investors, have seen their credit scores lowered due to many economic factors.
Types of commercial property we’ll consider:
- Office Buildings
- Apartment Complexes
- Senior Housing
- Mixed Use Properties
- Self Storage
- Industrial Buildings (Light)
- Retail Shops
- Strip Malls
- Shopping Centers
- Automotive (no in-ground lifts)
- Almost any income generating commercial property
Hard Money Loan Rates and Terms
- Loan Amount Nationwide*: $500,000 to $5,000,000+
- *California Hard Money: $150,000 to $25 Million+
- Interest Rates depending on equity: 7% to 11.50%
- Terms of 1, 2, 3 and 5 yrs
- Up to 60% ltv
- Origination fees 2 to 3 pts
- Most hard money loans are recourse but non-recourse is available
Common Uses for Privately Funded Loans / Hard Money Loans
- Purchase Loan
- Note Purchase
- Pre – Construction
- Add Value
- Partner Buy-Outs
- Tenant Improvements
- Debt Consolidation
- Pay Tax Authorities
STATES CONSIDERED FOR COMMERCIAL HARD MONEY LOANS:
Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota,Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming (no rural property loans available)
Disclaimer: The above rates and terms are general guidelines and subject to change without notice. Each loan request is considered on the subject property and borrowers merits.