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  1. #1
    Senior Member Reputation points: 35
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    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
    Banker
    ENTERPRENEUR STARTUP LLC
    enterpreneurstartupstartupllc@gmail.com

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    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

    1012 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.

  3. #3
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    Quote Originally Posted by Olderguy View Post
    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.
    What’s her email?

    And when you say property lending with no fico, you mean the amount loaned is literally decided by the dollar value of the property being leveraged
    Banker
    ENTERPRENEUR STARTUP LLC
    enterpreneurstartupstartupllc@gmail.com

  4. #4
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Quote Originally Posted by Business2122 View Post
    What’s her email?

    And when you say property lending with no fico, you mean the amount loaned is literally decided by the dollar value of the property being leveraged
    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

    1012 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.

  5. #5
    Senior Member Reputation points: 16709
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    Location
    Jackson Hole Wy
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    717

    Quote Originally Posted by Business2122 View Post
    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
    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

  6. #6
    Quote Originally Posted by Olderguy View Post
    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.
    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:
    -----------------------------
    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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