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04-30-2024, 01:37 PM #1
Doing one now.....
Second mortgage commercial property:
NEEDED THE BELOW DOCS
Detailed Use of Funds
Last 3 months of Complete Business Bank Statements -
2022 Business Tax Return
Previous Year's Business & Personal Tax Returns - 2023 if available/ if not interim financials for businesses*
Property Financials: Last 2 years and YTD interim
Property Rent Roll -
On a deal size of this amount, we may consider a true principal payoff after only 12 months.
Here is how our pricing would look.
In consideration of a 2nd lien on the two multi-family properties -
Note we will require the applicable entities who own the property and owners to guarantee the loan. Terms are subject to stipulation review.
Funding amount: $525,000.00
Origination Fee: 4% - lender gets 2%, broker gets 2%
Estimated Term: 60 Months, 20% interest
Estimated Payments: $13,910.00Last edited by Olderguy; 04-30-2024 at 01:42 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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