In your opinion who are the best providers when using Land, Commercial, Residential collateral?
Already using Lift forward and Patch of Land.
In your opinion who are the best providers when using Land, Commercial, Residential collateral?
Already using Lift forward and Patch of Land.
$>$350K up to $5 Million - Prime + 2.75% for SBA 7(a) LoansQuote:
Originally Posted by WCC_NYC
SBA is paying 1st 6 months of payments on all loans fully disbursed by 09/27/2020
Maximum Loan Terms - 10- to 25 years
Maximum LTV - 90% to Project Cost
Yankeeman07 thank you for the response. We do like using the SBA rates and terms that are very advantageous. What we have done is use a direct bank in each state that provides the SBA service through the list of credited vendors list from the SBA https://www.sba.gov/partners/lenders...m/list-lenders as appose to platforms. It is a little bit more work having to make sure we have the necessary paperwork and also create that relationship. This helps us reduce overhead/middlemen costs having built this process as appose to using a platform. Do you feel this is the correct path? If not what do you feel is a better solution for brokers?Quote:
Originally Posted by Yankeeman07
Full Transparency we do charge a success fee agreement to administer these products for our merchants that makes it worth our time. In your opinion what is a respectable success fee?
when you say " Best Providers" what are you referring to? you already have two HML, another option would be credit unions.
Why not use 1 SBA Bank / B&I that can close loans in nearly all States?Quote:
Originally Posted by WCC_NYC
I'm not here to tell you how to run your operation, but, I do not think this would pass muster with the SBA
I understand commissions are not very high doing SBA Loans - but that is the rules of the game.
SBA is not charging double digit rates.
Call me if you wish to discuss - 727-233-1111
"Full Transparency we do charge a success fee agreement to administer these products for our merchants that makes it worth our time. In your opinion what is a respectable success fee?"
SBA requires too much documentation, and they take too long.
They are all different asset classes. If you have commercial and A+ borrower use a bank. If hard money it all depends on the deal and location.Quote:
Originally Posted by WCC_NYC
We just closed a 3.5M land refinance on mixed land 100+ acres
And another 1.5M office refinance in Texas. Both Hard Money
bzuniga@omegafund.com
Anthony Auriemma
Phone : 848-480-1814
Fax: 888-440-1760
Cell: 732-552-5010
Email: anthony@BilderbergBusinessLenders.com
www.BilderbergBusinessLenders.com
Your website makes you appear to be a broker that also does debt settlement.Quote:
Originally Posted by Bilderberg
Depends on what state, unless you just mean nationwide.Quote:
In your opinion who are the best providers when using Land, Commercial, Residential collateral?
Already using Lift forward and Patch of Land.