Minnesota Commercial Hard Money Loans
There are 18 records for commercial private money lenders operating in Minnesota. The mean note amount is $305,065. Interest rates for hard money loans average about 9.9%. The typical length offered for notes is 23 months. The average origination fee for the loans is 3.2 percent. 67% is the mean LTV offered for offered by lenders in Minnesota.
Loan Example 1
Gabriel is a small business owner in Brainerd, MN. He wants to buy a new building for his business but he is not able to obtain a commercial mortgage from his bank due to his low credit rating. He turns to All American Lending Corporation for a commercial hard money loan to fund the purchase. The new building costs $1,390,000. Gabriel will have to put 40% down, or $556,000, since the lender will loan only 60% of the purchase (the loan-to-value or "LTV"). This means that the principle amount on the note is $834,000. The lender additionally stipulates the following terms to the loan: 1) a 8% interest rate, 2) a 2 year term with interest-only payments to be made each month, 3) an origination fee of 2 points paid by Gabriel when the deal closes, and 4) no pre-payment penalty. By the rules of the loan, Gabriel will have to pay an origination charge of $16,680 at the close (2% x $834,000 principle) and will then make payments of $5,560 per month ($834,000 principle x 8% interest / 12 months). he will also make a final payment of the $834,000 principle when the loan expires, or sooner if he chooses.
Loan Example 2
To facilitate his business, Andre decides to acquire a new office space. After being turned down for conforming loan from his local bank, he obtains a commercial private money loan from Capable Funding. The property carries a price tag of $940,000. Andre will need to put 30% down, or $282,000, because the lender will loan only 70% of the acquisition (the loan to value or "LTV"). This means that the principle amount on the deal is $658,000. The lender also lays out the following terms of the deal: 1) a 12% interest rate, 2) a 1 year length with interest only payments to be made each month, 3) an origination fee of 4 percent paid by the borrower at the close, and 4) no pre-payment penalty. By the terms of this loan, Andre will pay an origination fee of $26,320 when the loan is executed. He will also start making payments of $6,580 per month for the duration of the loan and will pay back the principle amount at the end of the 1 year loan term. Should he decide to pay back the loan early, he may do so with no additional expense because there is not a pre-payment penalty stipulated by the note.
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
CMN Funding
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Global Integrity Finance
321 N Central Expressway, Suite 360
McKinney, TX 75071
Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using their own ...
Hard Money Mike
1101 W Mineral Ave. #101
Littleton, CO 80120
Hard Money Mike is an asset-based lender headquartered in Littleton, CO offering loans in Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They provide lending solutions for a variety of situations, including commercial hard money loans and fix ...
The Legacy Group
910 Pinon Ranch View, Suite 200
Colorado Springs, CO 80907
The Legacy Group is a Colorado Springs, CO based private lender who offers loans in 8 states throughout the United States. Their lending focus is primarily on commercial hard money loans. They make loans ...
Silver Hill Funding
4425 Ponce De Leon Blvd, Suite 250
Coral Gables, FL 33146
Silver Hill Funding is private lender based in Coral Gables, FL. They provide funding in 39 states throughout the United States. Their lending focus is primarily on commercial loans. They provide rates ranging between 6% ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
TNS Loans
1101 W Mineral Ave. #101
Littleton, CO 80120
TNS Loans is a Littleton, CO based hard money lender offering loans throughout Colorado, Kansas, Minnesota, Missouri, Oklahoma, Utah, and Wisconsin. They offer refinancing, commercial hard money loans, hard money bridge loans, new construction loans, and fix-and-flip ...
Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new construction loans, ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
YC Funding
1010 NE 2nd Ave
Miami Beach, FL 33132
Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States. They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...
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