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  1. #1
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    Who are the best providers when using Land, Commercial, Residential as collateral?

    In your opinion who are the best providers when using Land, Commercial, Residential collateral?

    Already using Lift forward and Patch of Land.
    Roger Resides
    roger@wecompetelenders.com
    85 Broad Street New York NY 10004
    Cl: (646) 876-2556 | Ph: (844) 516-0633 | Fx: (844) 516-0633
    www.wecompetelenders.com

  2. #2
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    Lightbulb

    Quote Originally Posted by WCC_NYC View Post
    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) Loans
    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
    Last edited by Yankeeman07; 07-16-2020 at 08:50 PM.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  3. #3
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    Quote Originally Posted by Yankeeman07 View Post
    $>$350K up to $5 Million - Prime + 2.75% for SBA 7(a) Loans
    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?

    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?
    Roger Resides
    roger@wecompetelenders.com
    85 Broad Street New York NY 10004
    Cl: (646) 876-2556 | Ph: (844) 516-0633 | Fx: (844) 516-0633
    www.wecompetelenders.com

  4. #4
    Senior Member Reputation points: 33657 Jstarr's Avatar
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    when you say " Best Providers" what are you referring to? you already have two HML, another option would be credit unions.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275
    Boca Raton, Fl 33432
    P: 800-805-3391
    Jerry@insourcefunding.net| insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  5. #5
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    Quote Originally Posted by WCC_NYC View Post
    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?

    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?
    Why not use 1 SBA Bank / B&I that can close loans in nearly all States?

    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?"
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    http://www.fcbankcard.com
    1-727-291-7890 (Text or Leave Message)
    Office: 727-233-1111

  6. #6
    Senior Member Reputation points: 33657 Jstarr's Avatar
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    SBA requires too much documentation, and they take too long.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275
    Boca Raton, Fl 33432
    P: 800-805-3391
    Jerry@insourcefunding.net| insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  7. #7
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    Quote Originally Posted by WCC_NYC View Post
    In your opinion who are the best providers when using Land, Commercial, Residential collateral?

    Already using Lift forward and Patch of Land.
    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.
    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

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