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This program is a
great opportunity for those that have a Real
Commercial Project that needs funding. With this lending source,
you will have to only show 10% of the requested loan amount
instead of wiring
it out but you will use your 10% towards your
project. This
lender wants loan request from the USA and select
International
locations at this time.
For
Example:
You need $30M, the program allows you to get 90%
of $30M minus closing cost. Say the first draw is $6M, you'll get 90%
of $6M with a list of what needs to be done in the first draw. You'll
need to put 10% of the $6M towards your own project. Say that you
need to purchase permits or something like that, you'll pay for it
directly instead of wiring the funds out. Client will provide the
receipts that it was paid along with the permits then the next draw
will be approved and so on.
Minimum Loan Request: $2M
Maximum Loan Request: $500M+
Countries: USA and friendly
International Countries
Term: 10 years
Interest Rate: Fixed Rate 6% -7%
Interest Only not FICO driven
PPP:
No PrePayment Penalty (PPP) after the 3rd or 4th year
Documentation: Full Doc with
Executive Summary or Business Plan
Client/Borrower:
Must
show Bank statement(s) or Bank letter totaling the 10% of the loan
requested amount
Broker Fee: 3%
Lender In-House Form: Yes, required
Estimate of Closing Time: 30 - 60 days
max
Required Doc
Checklist
Submission Form |