Results 1 to 6 of 6
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12-22-2022, 06:10 PM #1
- Join Date
- Nov 2021
- Location
- Brickell Miami FL
- Posts
- 156
Private credit
Any private credit groups and deviations of it on here?
I’m looking for private lenders, what this means to me;(as I’ve learned, I must explain grown up finance)
To me, private lenders mean; ones who can make; their own guidelines, credit decisions, not have to use credit; customize loans, use underwriter to create a deal, NOT SUBMIT ONE, customize offers, set own standards.
If all above sounds like you, don’t hesitant to respond
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12-22-2022, 06:16 PM #2
Kristina at "Private Lenders" can do that. She has a few posts on her lender capabilities.
I also have private money, hard money property lender with no Fico requirement. And NoDoc.Last edited by Olderguy; 12-22-2022 at 06:20 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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12-22-2022, 06:22 PM #3
- Join Date
- Nov 2021
- Location
- Brickell Miami FL
- Posts
- 156
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12-22-2022, 06:30 PM #4
Kristina Gilbertson
CEO, Prosperity Financing
Website: https://prosperityfi.com
Office: (800) 516-9082
On the property guidelines...
I got an approval for a guy with a 585 Fico...$2M restaurant....
I'll repost it here:
Broker brings me a file with a WBL offer.
New York Italian restaurant
$1.2M hard money loan that balloons in February, 23
585 Fico
He needs:
$1,200,000 to pay off hard money loan
$250,000 for sales tax
$150,000 real estate tax
$30,000 credit cards
$75,000 cash out
$250,000 inventory (fresh seafood, etc)
Total $1.955M
WBL offer:
$2M
24 months
24% Interest
$38,611 a month payment
Guaranteed interest $925,667
3% broker fee
My loan offer LOI:
$2.1M new hard money loan
NoDoc loan - no documentation required
12 months but could extent to 18 - 24 months after underwriting
or additional 12 months renewal at 1% cost.
10.99% Interest Only - determined at closing
6 months prepay penalty
12 month payment reserve - no payments for 12 months.
3% broker fee
The exit strategy is to get him into a SBA 7A for his business and a 30 year commercial property loan to take this loan out within 12 - 24 months.
His finances support both of these long term and we need to work together to make it happen.
Yeah he may need a larger loan amount. Or stay with a payment plan on the tax debt. It's up to 60% LTV and the appraisal will determine what we end up with after underwriting review.Last edited by Olderguy; 12-22-2022 at 06:35 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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12-23-2022, 10:59 AM #5
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 732
private lender for real estate or unsecured loans?
We do lots of private money commercial loans, decisions made by 1 person. On the unsecured side harder to find a private lender from what you describe.
bzuniga@omegafund.com
www.omegafund.com
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12-24-2022, 03:09 PM #6
- Join Date
- Oct 2022
- Posts
- 23
Thanks Steve!
-----------------------------
I have private lenders for the following:
US & Worldwide.
• Start-ups - any industry
• Ground Up Construction / Developments *any kind
• Real Estate / MF /Hotels / Unique
• Cannabis - cultivation, dispensary, lab, etc.
• Commodity deals, Precious Metals/Stones deals
• Sustainable Aviation Fuel
• Aviation/Aerospace
• Renewable energy
• Manufacturing
• Movies *if have distribution rights
• and more.
Industry agnostic for the most part, as long as the deal makes sense.
• $10MM - No Cap (billions+), smaller deal-by-deal and with growth/expansion vision
Most private lenders still are cookie-cutter, these are not.
These private lenders are True creative financiers
• No personal guarantee, credit doesn’t matter
• Use their own money and assets *not syndicate private money* you’re direct to source, so you CUT out all the middle men and all red tape, restrictions & massive regulations
• Customize the terms & conditions and creative financing, each deal is done uniquely
• Leverage creative collateral, use their own, and unique structuring
• Put large deals together that other lenders won’t or can’t even touch.
• Deferments -1-2-3+ years out no payments until built or selling, etc.
• They fund 80% Loan-to-cost of the entire project- not LTV of just the RE. They will fund the entire project - land, construction, equipment, WC, entitlements, etc, etc, etc.
• Debt/Equity, JV, SPV - depends on the deal, the risk, location, industry etc how they’ll structure for the benefit of everyone
• 95% of their clients continue to keep getting their deals funded with them
• You will be Paid on all future deals as well.
They offer exactly what the project needs so the owners and their capital/cash is protected and everyone makes more money this way.
Any questions on any projects don't hesitate to reach out as this is very unique.
Other Private Lenders: each one has different requirements
•*RE construction
•*RE Fix & Flip
• AR
•*AP
• Large RE Deals
Here's my contact details:
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Kristina Gilbertson
CEO, Prosperity Financing
Email: hello@prosperityfi.com
Website: https://prosperityfi.com
Office: (800) 516-9082
• Tailor-Made Capital & Creative Financing, JV, Debt/Equity
• Off-Market Luxury Properties - Condos, Developments, CRE
• Unique Cash Injection Opportunities
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