Who can provide a secured loan against free and clear commercial property FAST
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  1. #1

    Who can provide a secured loan against free and clear commercial property FAST

    The business owner owns two commercial properties and one is free and clear.

    One w/ Market Value: $2mil - with $650k mortgage
    Other one is free and clear

    Owns the business but not quiet doing well, but FICO is above 720.

    He wants $200k immediately and ok with the lien on any one of two properties.

    Which MCA funder (except WBL) can handle it with title?

  2. #2
    Senior Member Reputation points: 203690
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    probably better off getting client a Bridge loan instead of mca, monthly payment interest only, close quick no appraisal needed. What kind of properties are they? Pm me i can point you in right direction

  3. #3
    Quote Originally Posted by Sachip24 View Post
    probably better off getting client a Bridge loan instead of mca, monthly payment interest only, close quick no appraisal needed. What kind of properties are they? Pm me i can point you in right direction
    what stae is it
    Joseph Cerullo
    Main Street Cash
    360 Motor Parkway, Suite 200B
    Hauppauge, NY 11788
    631-791-9626
    jcerullo@mainstreetcash.com

  4. #4
    Quote Originally Posted by Sachip24 View Post
    probably better off getting client a Bridge loan instead of mca, monthly payment interest only, close quick no appraisal needed. What kind of properties are they? Pm me i can point you in right direction
    sorry STATE
    Joseph Cerullo
    Main Street Cash
    360 Motor Parkway, Suite 200B
    Hauppauge, NY 11788
    631-791-9626
    jcerullo@mainstreetcash.com

  5. #5
    Senior Member Reputation points: 28835
    Join Date
    Feb 2019
    Posts
    209

    Quote Originally Posted by BP4130 View Post
    The business owner owns two commercial properties and one is free and clear.

    One w/ Market Value: $2mil - with $650k mortgage
    Other one is free and clear

    Owns the business but not quiet doing well, but FICO is above 720.

    He wants $200k immediately and ok with the lien on any one of two properties.

    Which MCA funder (except WBL) can handle it with title?
    Since MCA is uncollateralized, you can take your pick. If you are looking for a collateralized option, then look at Maxim.
    They are way better than WBL albeit WBL is good for the higher risk deals.

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