Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
Sign in to follow this  
BizLender

Unsecured Hard Money, Low Cost on Funds Used, No FICO

Recommended Posts

We are offering a range of great lines of unsecured credit programs that can be used very effectively to acquire real estate.

 

Program 1 - Unsecured Business Credit Program up to $1MM (Our Best Program)

 

• Application Only

• Stated Income, Stated Asset

• NO Business Financials

• NO Tax Returns

• NO Credit Score

• NO Personal Guarantee

• NO reporting to your personal credit

• 30 to 45 days to obtain funding

• Revolving, perpetual line

• Interest Only Payments

• Prime to Prime + 4

• Lines do not convert to term loans

• $100,000 per Corporation

• Maximum of $1,000,000 (10 corporations) per person

 

Cost:

$7,500 per corporation - The fee is fully refundable [and it is part of the documentation] if funding is not successful.

Success fee of 5% of the LOC established will be paid from the proceeds.

 

 

Program 2 - $1.5MM

* May go through program multiple times

* Min 720 credit score, NO derogatories, max of 6 inquiries (inquiry removing service avail.)

* Clients are pre-approved

* Must show feasible use of funds and financial projections

* 6 weeks to first round of funds of $500K, 3 weeks to each of 2nd and 3rd rounds of $500K each

 

Costs: $37,500 up front – Refundable if funds are not obtained, 21% of funded loan amount on back end

* Total cost of funds including “No Up-Front” line of credit: $361K

* Term: 20 years

* Rate: Prime + 1-3% , interest only

 

No Up-Front Program

Financing available for upfront cost using a $50K line of credit

Cost: 17% ($8,500)

(All terms subject to change)

 

 

Program 3 - Credit score min 660, must have no derogatories

* Initial (up front) cost: $ $17,000

* Back End: 10 points on the total amount of credit obtained

* Line of credit: $200K - $300K, after 90 days can go for 2nd round of financing

* Rate on funds used: 6% - 8%

* Approx time period: 60 – 90 days

(All terms subject to change)

 

 

Call or email for application

619-793-5559

Business and Real Estate Investor Loans

Share this post


Link to post
Share on other sites
Sign in to follow this  

×
×
  • Create New...