[aak723]

Hey Funders:

Any luck with this group? These guys procure $1MM - $5MM worth of contracts from city or commercial entities and then look for bridge financing from banks. I can liquidate the invoices of course (happy to hear about low rate liquidators for city/state contracts) but coming up with the bridge capital is an issue.

Most have 650 - 800 Credit scores, are asset rich (lots of vacant land) and idle cash, but almost always have to do hard money to finance their projects. I know SBA 7a has a good program for construction loans but I have yet to find someone who underwrites this through a correspondent channel or through their own funds and deals with brokers. I have one right now who just got a development contract from the city for $1.2MM and needs to raise $1.1MM to develop low income housing in TX.

Any help/thoughts much appreciated!

[B2csp]

Normally for a bridge loan, the funded amount has to at least be 1.5MM and up which will fall around 65-70% average to 80% LTV for really good properties. Therefore if they have a property with a value that we can take out at least 1.5MM based on 65% of the LTV we can help you out and go from there. In rare cases there are a few companies that can do a "bridge loan" under 1MM but again it would have to be a great property.

[Karen37a]

B2

Do you do Land only and do you have any states that you do not lend in?

[numbers13]

I know a lot of companies that can do bridge loans for commercial and residential , I could not guarantee a 100% financing unless the borrower is credible enough and the numbers matches up.

[Yankeeman07]

Going forward all solicitors (whether selling a product/service or asking for deals) must disclose their physical address, phone number and company name. This can be visible in the post itself or on an accompanying website. If it's not on one or both, the post may be deleted and the user banned. Free e-mail addresses are highly discouraged.

[aak723]

I know a lot of companies that can do bridge loans for commercial and residential , I could not guarantee a 100% financing unless the borrower is credible enough and the numbers matches up.

Bridge for residential? Never heard of this. Is this for primary residences? What's the interest cap on the loans?

[Funded In A Jiffy!]

Call Lorraine at 765.517.0975.

Lorraine McNair - COO
MoveAhead Financial
2114 E Blvd
Kokomo, IN 46952
lorraine@moveaheadfin.com
www.moveaheadfin.com
765.517.0975