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About BizLender

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    So Cal
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    I have rehabbed 2 condos in Palm Springs. I won't do condos again. I enjoy fitness, hiking biking, speed skating, drinking wine, dining outdoors in the warm weather, drinking wine, and I love the desert.
  1. We have a new financing program that works well for financing rehab costs. If you don't like this one, check out our other $100K bank lines of credit on our website. It is a NO BANK QUAL program. BUSINESS CREDIT OF $100K AND UP - NO UPFRONT FEE/NO RISK You can receive multiple business credit card accounts in the name of your business (corporation) in amounts of $10K to $25K. Each month you receive 3-4 of these accounts over 2 months. You may continue to apply for new accounts to reach $100K and possibly more as new banks are added. Unlike other business credit programs, there is no upfront fee! These are business credit card accounts. Typically 0% interest for first 6 months. Plus convenience checks are typically sent out from the credit provider offering 0% interest for a year. It takes about a month to get the first round of credit. Details • Business credit card accounts, $10K to $25K each • Obtain as much as $100K, possibly more • Interest rates typically 0% for first 6 months • May receive convenience checks, 0% interest for a year • Approximately 1 month to first round of credit • Pay only on the credit you receive • Interest rates typically 0% for first 6 months Requirements Must have a corporation (age not a factor, can be new) with Federal tax ID/EIN number Any officer of the corporation must meet the credit guidelines below • Minimum 700 credit score on all 3 reporting agencies • Maximum 40% credit utilization to credit available credit • No derogatories on credit report (old minor derogs may be accepted) If you personally do not meet the credit requirements you must have an officer in your corporation who does and is willing to sign a personal guarantee. Cost No upfront fee 15% on credit received Call me, Paula Serber, now if you would like to take advantage of this program. See our other $100K bank lines of credit program - great for real estate investors - on our website. www.BusinessLoanCafe.com 866-880-8808 619-793-5559
  2. I am posting the first few paragraphs of an article on obtaining and using business to fund your real estate deals. Title: "Using Unsecured Business Credit for Real Estate Investment Financing" When a great real estate deal comes along you need to be able to act fast or someone else will snatch it up first. Lacking the funds to take advantage of such an opportunity is very common and frustrating problem among real estate investors. Many investors turn to private hard money mortgage lenders as their only financing source. The savvy real estate investor now utilizes unsecured business credit as a more economical option to finance their residential rehabs and flips. The cost of origination is similar to hard money loans, but unsecured business credit can be used over and over without incurring additional origination costs. This can mean a huge increase to the bottom line for the investor who is expecting to flip multiple properties. Read more: http://www.businessloancafe.com/real-estat...tment-money.asp
  3. I am not sure if this is the place to post this, but I wanted to share a new article on business credit being a lower cost and more flexible financing option for rehabbers/flippers who currently use hard money. I thought it would be of interest. The article is "Business Credit for Rehab Flippers; Better than Hard Money Loans?" Here is the link: http://www.businessloancafe.com/real-estat...tment-money.asp I can email it as a PDF as well.
  4. Manna, I just wrote an article about the cost benefits of business credit over hard money. Not sure if I can post websites in the forum, but here it is: http://www.businessloancafe.com/real-estat...tment-money.asp If that does not show up, go to the website in my signature and click on the "Real Estate Investment Financing" link. The first article is, "Business Credit for Rehab Flippers; Better than Hard Money Loans?" Or I can email you a PDF of the article.
  5. Multi-Unit Residential Financing LTV 80% (may go higher with great credit) Can finance based on good rent rolls Prefer year built 1975 and later Great credit not necessary if rent rolls look good Must be over 60% occupied Rates: Prime + 4 Term: 25 yr arm Min $250K Call or email for application 619-793-5559 Business and Real Estate Investor Loans
  6. 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
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