Rather than concentrating on the minute detail of the borrower’s credit history as institutional lenders do, we concentrate on the real estate securing the loan and your business cash flow. We provide the commercial real estate investor with the ability to borrow on underwriting criteria not available through institutional lenders. Just a simple application form is required and we can usually obtain a credit decision in 24 hours. Bad Credit Business Loans are what we do best.
We lend up to 75% of appraised value with no requirement for historical financials and no minimum equity contribution required on the part of the borrower. Our private mortgages loans are interest only, capitalised or paid monthly in advance and available with terms from 3 months to two years, normally with an option to renew. We advance 1st & 2nd mortgages, with interest rates from 9.25% per annum.
*Bad Credit Business Loans – The Financing decision is reached taking the value and condition of the security property together with the borrower’s ability to complete a construction or renovation project as the primary factors. The proposed exit strategy is also important to us. These loans are appraised very quickly, credit decisions are normally made within days of application and settlement often occurs within one or two weeks. This flexibility results in a moderately high interest rate, which is typically from 9.25% per annum.