Collateral/Michigan/Bridge Funding needed
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  1. #1
    Senior Member Reputation points: 50583
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    Collateral/Michigan/Bridge Funding needed

    Michigan
    land + Store + House = collateral

    owes about $400k to bank for all three. All three under appraised 2 years ago as a liquidation

    Needs new appraisal - should be $4000+ per acre = over 300 acres

    MCA positions to pay off
    Vendor debt payoff

    Credit over 650

    Needs about $900k +

    Has new agreement with company to rent part of land and new restructure project to add section to store to cater to the new construction companies in the area

    - I have all paperwork and the owner will only work with me. We have been going around in circles for too long and it needs to get done.

    Serious LENDERS or DIRECT CONNECTION to Bridge/Mezzanine Funding partners who work with Michigan companies please email: Admin@sendto.capital
    Amanda Kingsley
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  2. #2

    Collateral/Michigan/Bridge Funding needed

    I have a hard money investor in michigan LTV up to 75% so if you're correct and a new appraisal with show that value, should be good to go.

  3. #3
    Banned Reputation points: 4530
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    Hi Amanda- this commercial mortgage financing is a bit unique and I know just the person you should talk to.
    Brent Germaine
    734-506-8448
    afrinc@comcast.net

    Brent has been placing difficult deals in Michigan for years.
    I suggest you contact him by email, lay out the broad terms of what your client is looking for.
    Please use my name.
    Bob Shaw
    734.929.3800

  4. #4
    Senior Member Reputation points: 113 MatthewAStucchio's Avatar
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    Amanda, WBL could take a look at this. Depending on the business cashflow as long as the property is worth what the client is claiming and the debt is what the client is claiming these are the types of deals WBL specializes in. As long as the cash flow can support the debt service on a 900K loan amount we would do the deal. Let me know if I can help.

    World Business Lenders
    Matthew A. Stucchio
    Associate
    Mstucchio@WBL.com

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