Results 1 to 5 of 5
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03-06-2023, 05:05 PM #1
Reputation points: 10
- Join Date
- Jun 2019
- Posts
- 14
Commercial Building Cash Out Loan or LOC
Have a client looking to take out 150K or more on his commercial property....purchased in 2009 for 500K and is paid off.....merchant personal credit is 700+.
Looking for lenders that can do thisVincent Loforti
President / Broker
Sierra Solutions
vincent@sierrafcm.com
559-286-0604 EXT 101
2936 N Fresno Street
Fresno CA 93703
Follow Me on Linkedin https://www.linkedin.com/in/vincentloforti/
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03-06-2023, 07:40 PM #2
It is Owner Occupied or NOO?
Vacant or occupied?
NoDoc or SISA (stated income stated assets)?
How long does he want it?
Bridge (2 years) or traditional (30 years)?
5,4,3,2,1 prepay or 1 year or 6 months on bridge?
Reach out..I have about 25 property lenders...need more information.Last edited by Olderguy; 03-06-2023 at 08:19 PM.
Steve Benjamin
Professional Business Loans
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
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.
@ Homeowner loan 2nd position- 15 year 14% no lien
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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03-07-2023, 10:35 AM #3
Reputation points: 1968
- Join Date
- Jan 2022
- Posts
- 24
If this is a primarily owner occupied (51% or more), I can help structure a deal. We would be looking for historical or at least projected cash flow. The pricing will depend on a number of factors including the property type, business industry, cash flow strength, etc
We are a direct lender, no broker chains or splitting your referral fee. Deal directly with the source.Dan WallaceSVPHarvest Small Business FinanceNational, direct non-bank lenderFast and creative financing solutions970-390-6650dwallace@harvestcref.com
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03-07-2023, 10:56 AM #4
Reputation points: 13951
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 663
If client wants a fast closing we can get this done in 7 days.
Ben Zuniga
bzuniga@omegafund.com
www.omegafund.com
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03-15-2023, 05:30 PM #5
Reputation points: 31595
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 401
Now offering a 1 Page Bank Statement Program
· Self-Employed Borrowers Only
· Page 1 of the Business Bank Statement reflecting the company on the P&L, not used for income
· Qualify off the P&L only: nothing more, nothing less
· 12 or 24-month P&L OK
· Purchase LTVs up to 90%
· Cash-Out LTVs up to 80%
· Loan Amounts up to $4MM
· Minimum FICO of 620
· DTI up to 50%
· 50% business ownership required
· Qualify off the borrower's share of the bottom line. It's that easy!
PM me for more info
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