I have a messy loan request. $1,000,000 against a value of $2,180,000 (about 43% LTV) on an "ugly" property. Property is in Florida. Borrowers (a US citizen) other assets are off-shore and not verifiable. When he finishes the project, the value will be about $3,000,000 (about a 33% LTV).
Property is F/C. Borrower states he has about $740,000 invested since he bought it and has been improving it, for a few years.
Borrower knows this is going to be expensive.
I have a loan summary and docs available. Out of date appraisal (update no problem with a viable LOI), other basic info.
Any aggressive lenders out there?
We HAVE hundreds of NON BANK lenders and finance groups resources BOTH USA , CANADA AND WORLDWIDE who can finance start-ups, acquisitions ( where the borrower has little cash to contribute) and debt restructuring for troubled companies in most countries, with or without hard assets.
The money sources that we have are generally NON BANK lenders that provide financing to companies and individuals seeking commercial financing who cannot obtain adequate capital to grow or run their business.
We will review and analyze the clients funding request and then seek to find an appropriate funding source from the hundreds we have to provide the requested funding.
* An old joke goes; 'You can get as much money as you need from a bank as long as you can prove you don't need it'. Otherwise, you may need our help or services.*
David, can you share more info?
Are you still in need of financing for this transaction? If you are interested in co-brokering I would like to help you get this funded.
If you send me your e-mail address, I'll send you the basic info.
I provide funding for Fix and Flips, Rental Properties & Commercial Projects, Gap funding, Refinance. ( Personal Funding Available). Loan amount: $20,000 up to $10,0000,000. Up to 100% financing if deal is solid . Interest rate from 4%, No Prepayment Penalty. We close within 2 to 5 days. Send in your loan scenerio at firstname.lastname@example.org to review my lending criteria. Thanks