Work with a team that has over 40 years of banking, funding and management experience.
In regards to loans, business financing, start-ups and Franchise support there are various projects and/or scenarios that are possible. These include real estate development projects. Apartments or condo conversions to apartments in large cities are usually desirable. Under most circumstances in today’s climate golf courses, condos, casinos and hotels are problematic unless there are unusual very positive circumstances. In fact we do have a source of funds for Branded hotel projects, factoring, A/R funding, refi’s and equipment leasing. Oil and gas, overseas fantasy projects are not our expertise so they are out as is the buying and reselling of homes.
In order to get started with any project we only want some thumbnail information before we call the owner of the project:
* How much $ is needed for the project?
* How much $ is already invested in the project?
* Amount of down payment available.
* Do the owners have experience in the project field, and how much?
* What is the specific use of the funds?
* If a development project; is it “shovel” ready?
* Do the owners either own or control the land?
* Ability to sustain the project (approximate NW)
* How is the credit of the owners? (important-must be 670 FICO or above)?
* The name and details of the owner and their willingness to speak with us.
* If you have a current PFS this will help.
Full detailed information, plans, studies are not necessary at first as we can get these after we analyze the above.
What’s good in today’s market;
1. Unsold pieces of condos which are called “tail pieces”. We can get financing for up to 55% of the value using 1-3 year bridge loans. The money can be used to promote the vacancies through extensive advertising or adding amenities.
2. Condo conversions to apartments. This is especially viable if they are near the water (beach).
3. Funding for Marinas. Some of the fickle banks like these projects at the moment.
4. Senior housing and age restricted (over 55) housing.
5. Hotel refurbishing.
6. Medical and in some cases 100% SBA financing is available for medical expansion.