The Coronavirus is having a devastating impact on businesses throughout the country. That's why our COVID-19 RELIEF LOAN Program offers financing up to $2,000,000 to businesses impacted by the pandemic. The Program effectively loosens underwriting guidelines with respect to cash requirements so businesses shut down by the government or taking responsible action to limit the spread of the disease can still qualify despite little or no cash flow. All loans are secured with adequate equity in virtually any form of real estate. The two year program is intended to give a struggling business the capital necessary to weather the economic storm by providing (1) a Shut-Down Period- no payments due for the first 3-months, (2) a Recovery Period- interest only payments for the next 9 months while the business is restored to a normal state, and (3) a Pay-Back Period- where the loan begins to amortize during the next year.
Acceptable: virtually any combination of real estate may be used as collateral. This includes commercial , industrial and residential properties including properties under construction, parking lots, gas stations, co-ops, mixed use, farms, etc.
Unacceptable: raw land cemeteries, casinos, cannabis farms, churches/synagogues, etc.