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Where can I get a quick loan against my commercial real estsate?

commercial loans


I need a quick loan for $2,000,000 and I have land worth $3,000,000. I was looking into Bradford, at www.bradfordfunding.com does anyone know anything about Bradford? I don’t want to wait for a bank approval, and I don’t want to sell out to venture capitalists. Also I don’t have any cashflow, so I need someone to loan to me strictly on the value of the land. Thanks!

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   Posted in Commercial Loans    

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One Response to 'Where can I get a quick loan against my commercial real estsate?'

  1. jgmeier93592001 - June 21st, 2009 at 4:16 am

    You can also look at a hard money lender. Hard money is more in cost and interest rate, however they will close a loan fast (once title and appraisal is done). Your LTV would be about 66.7%, a little higher than they would be wiling to go. Most have a comfort zone of 50-60% LTV. Interest rate would be double digits. Average would be about 14% with points. Another thing that you should be aware of is that this is a short term program. Meaning that they would need a balloon payment with in 2 years (depends on how your structure the loan). If you really need to get money fast, e-mail me directly. I have a few hard money lenders that I have worked with before on this size loan.


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