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04-20-2016, 04:20 PM #1
$3.8m Construction Loan Needed. Collateral, Good Credit and Co-Signer Revenue
I have a client looking for $3.8m to construct a restaurant. He already owns the raw waterfront land valued at $1.3m, free and clear with no liens. Credit is great. For revenue, his brother is willing to co-sign the loan with him, and has multiple businesses generating around $24M yearly. He's willing to use his business income to pay the loan, however, he doesn't want to use his actual business entities as a guarantee. Is there anyway to structure this? Thanks in advance for any response. Feel free to email me at carmen@toliverbancroft.com.
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04-20-2016, 04:25 PM #2
- Join Date
- Mar 2015
- Posts
- 42
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04-20-2016, 09:33 PM #3
Hi Johnny,
We mostly do short term MCA's and unsecured credit lines. Real estate is not our expertise. Additionally, this does not look to be very conventional considering the circumstances. Looking to make a few relationships with funders to handle the foreign and more complex deals that come across our desk. 😊Last edited by TB-Commercial; 04-20-2016 at 09:35 PM.
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04-20-2016, 09:55 PM #4
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
$3.8m Construction Loan Needed. Collateral, Good Credit and Co-Signer Revenue
This could be a straight commercial mortgage. I recently reccommended Brent Germaine also in Livonia.
Bob
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04-21-2016, 03:16 AM #5
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04-26-2016, 05:01 PM #6
- Join Date
- Feb 2016
- Posts
- 4
Sent you a PM
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08-20-2021, 08:43 AM #7
- Join Date
- Jul 2021
- Posts
- 74
Contact me. We have lots of different products for construction companies. Great commission.
jimmy@sigicancapitalcorp.com
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