HappySeniorHomeOwners Blog

Commercial Hard Equity Loans

September 10th, 2010 6:21 PM by Juan Luis Rodriguez-Kohly

Commercial Hard Equity Loans

What is it?

Simply put, it is a short term, fast closing loan based on the equity of the property rather than on the credit of the owner.

It is used mainly for Purchase or Refinance - Commercial, Industrial or Investment Properties

Who needs it: You may need it under these circumstances:

·         Bankruptcy

·         Business Failure

·         Credit Problems

·         Death of Partner or Borrower

·         Foreclosure

·         Financial Problems

·         Negative Cash Flow

·         Tax Liens

·         Unreported Income

·         “Cant Wait Situations”

·         Family Events

·         “Work-Out Situations”

 

·        "Turnaround Situations”

·         Building Repairs or Remmodeling

·         Inadequate financial data.

Why is it for me?:

1        Quicker approvals than a bank loan

2        No Credit required

3        Little Documentation required

4        Easier to close

 

5        More Flexible than a bank loan

6        No appraisal required in most cases

7        Cheaper than a partner or venture capital

Cross Collaterizing possible

 

In any of these circumstances, a Commercial Hard Equity Loan
could be the quick, flexible solution to your problems!

What properties?:

1)      Apartment Buildings

2)      Office Buildings

3)      Medical Buildings

4)      Retail Centers

5)      Commercial Buildings

 

6)      Industrial properties

Other Possibilities:

·         Mixed use properties

·         Adult Living Facilities

·         Land. Lots

 

·         Others

 

 

 

 

 What are other alternatives?:

·         Lost opportunity?

·         Foreclosure?

7)      New Partner?

8)      Venture Capital?

 

 

What preliminary information do I need to submit.

1)      Contact Name: ____________________________________________________

2)      Title: _____________________________________

3)      Company name: ____________________________________________

4)      Telephone:  (_____) ______-________   Fax:  (_____) ______-________

5)      Best Time to contact: __________ am/pm to __________ am/pm

6)      Email: ______________________________@________________________.______

7)      Type of property:   [ ] Commercial  [ ] Industrial   [ ] Investment   [ ] Apartment Bldg

      [ ] Retail  [ ] Hotel  [  ] Income   [  ] Other: _______________    [ ] Land: ______ acres or sq ft

8)      Loan Amount Requested: $_______________   for  a term of _____ years. Cash out?:____  y/n

9)      Intended use of funds?: __________________________________________________

10)    Property Address: _____________________________, City:_________ Zip: _______

11)    Florida County: _____________________________

12)    Estimated property value: $___________________

13)    Present Mortgage: $___________________

14)    Copy of current Rent Roll (if applicable).

15)    A Loan Summary (2 pages) detailing: 1) Intended use of funds.
  
2)  Story of project (include answers to: who, what, when, where, why and how it is going to be repaid?)  3) Photos of property front, rear, and street views both ways.

  Remarks:__________________________________________________________

 



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Posted in:General
Posted by Juan Luis Rodriguez-Kohly on September 10th, 2010 6:21 PM

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