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  1. #1
    Senior Member Reputation points: 752
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    Commercial Lenders

    Are there any commercial lenders you guys are aware of that will do commercial deals without charging upfront fees? I keep running into brokerage houses that want to charge $2500-$7500 upfront for just looking at a deal.

    I have two right now I'm working on:

    Mobile Home park with 10 homes doing $80K per year with $50K expenses looking for about $125K
    Gas station with a $5M property with $2.6M first mortgage against it looking to go to 75% (or as close as possible) without a PPP.

  2. #2
    Senior Member Reputation points: 325 Ryan Shiroky's Avatar
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    that fee you talking about, an "engagement fee" is normally applies to brokers that deal with SBA... MCA brokers don't really do this, because the commissions are fat, there is no need...

  3. #3
    The gas station deal sounds like something that would either require a bank loan or a personal investor. I do have a bank relationship that loves to use property as collateral.

    The mobile home park sounds like a high risk deal.. I don't know a single cash advance company that would touch that deal either. They want to see a living breathing business that has enough future receivables to where the merchant would be able to pay the loan back plus the factor in a 6-12 month period. (18 months is the highest I have ever seen.. and that takes perfect credit and your business needs to be the right industry and many other factors go into it)

    If you have another business that is bringing in capital on a monthly bases of at least $150k in deposits then I would think that I or anyone else who does these advances could get you the capital that you need in order to make that investment. The companies I deal with don't care what you use the money for.. they just want to make sure that loaning it to you isn't going to put you out of business. Or put you in a situation where you can't pay them back.

  4. #4
    Senior Member Reputation points: 290 1StopFunding's Avatar
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    Commercial Lenders

    Call Adam Finkel with Diversified. They are an SBA preferred as well as boutique lender. His contact info is 2155302819. Tell him I referred you. They will work with the broker on due diligence fees.
    Cheryl Tibbs- General Manager
    Equipment LeaseCo Inc
    www.equipmentleaseco.com

  5. #5
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    Quote Originally Posted by Ryan Shiroky View Post
    that fee you talking about, an "engagement fee" is normally applies to brokers that deal with SBA... MCA brokers don't really do this, because the commissions are fat, there is no need...
    I know Ryan, but thank you. I posted this initially in the Business loans section because I didn't want MCAs on either business. I'm looking for commerical loan lenders only that will not charge upfront fees. I've been burned too many times on those to make the same mistake again.

  6. #6
    I have an outlet inbox me who can do both

  7. #7
    Senior Member Reputation points: 2782
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    Commercial Lenders

    if you havnt found anybody, I can do commercial lending but they needed to find at least 1mill. big boy stuff. contact, me if this is you.

  8. #8
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    Business Solutions LLC can help with all of your commercial real estate PURCHASE, CASH OUT REFINANCE deals from 100K - 5,000,000.00. Up to 75%LTV 680 Credit score or better. Low doc requirements. SFR, Townhome, Condo, 2-4 Unit, multifamily (5+ units), mixed use, office, retail, warehouse, self-storage, automotive services. Great commissions on deals. NOT A LENGTHY PROCESS - SFR closes in 30 days Commercial in 45 days START TO FINISH!

  9. #9
    Member Reputation points: 3332
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    Stated Income/Stated Asset doc for non-owner SFR's, 2-4 unit residential, 5+ Multifamily, Mixed-use, and traditional commercial properties. With just a mid fico of 650, borrowers can get up to 70% LTV (75% with 700+Fico)

    If you’re doing commercial and residential investment loans, and not currently working with a rep here at BSCI, we would love to be added to your rotation of lenders and earn your business.

    NO INCOME VERIFIED
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    NO PAY STUBS
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    NO 12-24 MONTHS BUSINESS BANK STATEMENTS
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    NO MAXIMUM NUMBER OF PROPERTIES OWNED
    NO EMPLOYMENT VERIFICATION
    REBATE PRICING (MAX 5 FRONT AND BACK END POINTS)
    NO DCR on SFRs below $750k
    6.49% Start Rate, No Upfront Points, Fully Amortized Terms

    Call Jay at BSCI LLC to learn more or call 888-669-3640 x 1

  10. #10
    Senior Member Reputation points: 16709
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    Commercial lenders that have real estate involved will charge upfront fees, even banks.
    Commercial Loans and Asset Based Lines of Credit or revolving lines will also charge upfront fees anywhere from 5k-20k.
    But those deals are $1M+. They typically will not look at a deal less than $2M for a LOC.
    If the loan request is under $500k yes there are lenders that will do it without upfront DD fees.

    Ben
    www.omegafund.com

  11. #11
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    I've posted information on line about this twice. I guess because I did't get started in 2008 as a business loan/commercial loan broker my response doesn't count. I have a lender that I work with that can close the deal in 30 to 45 days. No due diligence fees approvals in 24 hours in most cases and this a stated income/asset product. These terms are fully amortized out to 30 years with a 6.9 start and a 13% high. Lower than any MCA that you will find stated. Loans go up to 5 mil on any commercial asset. 680 middle score will get you 70% LTV and 700+ will get 75% LTV on houses or Commercial. PM me if interested. Again.

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