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  1. #1

    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 this
    Vincent 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/

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,087

    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

    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
    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 Wallace
    SVP
    Enterprise Bank
    National, direct SBA lender
    Fast and creative financing solutions
    970-390-6650
    dwallace@enterprisebank.com

  4. #4
    Senior Member Reputation points: 16709
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    Jul 2014
    Location
    Jackson Hole Wy
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    717

    Quote Originally Posted by vloforti View Post
    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 this
    If client wants a fast closing we can get this done in 7 days.

    Ben Zuniga
    bzuniga@omegafund.com
    www.omegafund.com

  5. #5
    Senior Member Reputation points: 39157
    Join Date
    Oct 2014
    Location
    Naples, FL
    Posts
    471

    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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