Looking For 1st Position Bridge Loan or Hard Money
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  1. #1

    Looking For 1st Position Bridge Loan or Hard Money

    Client with an office building worth $3.2MM. They have a 1st mortgage of approximately $600K and seeking $100K in bridge financing to finish installation of air conditioners for building.



    Leases in place for tenants for June 1st occupancy.



    Let me know what type of rate and terms you can provide for this client.

  2. #2
    Senior Member Reputation points: 68639 Olderguy's Avatar
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    reach out...

    can look at a 2nd mortgage - 22%

    or a hard money first - 11% I/O ten years...
    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
    I can do an unsecured loan range of 5%-15% 5-7 year term. I need two years personal tax returns reflecting $50,000 in personal income and a three bureau credit report with a 680 across all three bureaus in order to get pre qualified. Can get funding within 7-10 business days. Zero restrictions on the funded amount. Fully amortized.
    Give me a call
    8158780244

  4. #4
    This will not work as the client's credit scores are in the lower 600's, but thank you for the follow up.

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