Anchor and Anvil

About Anchor and Anvil

Anchor and Anvil is a private money lender in Chicago, IL providing funding in Chicago. Their lending focus is mainly on commercial hard money loans. Their loan guidelines are versatile, including loan amounts ranging from $500,000 to $15,000,000. They offer loans on all of the following property types: multi-family units, apartments, office units, retail spaces, hotels and motels, storage buildings, senior housing facilities, mixed use buildings, warehouse spaces, industrial buildings, and medical facilities.

Loan Types Offered: Commercial Hard Money Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical

Areas Served: Chicago

Lending Guidelines for Anchor and Anvil

Below are the general loan guidelines published on the Anchor and Anvil website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Anchor and Anvil.

Loan Example 1

Darryl is a small business owner in Chicago, IL. He wants to acquire a new commercial building for his company but he isn't able to secure a conforming loan from his bank due to his below average FICO score. He looks to Anchor and Anvil for a commercial hard money loan so he can fund the acquisition. The building costs $210,000. Darryl will have to put 45% down, or $94,500, because the lender will fund only 55% of the acquisition (the loan-to-value or "LTV"). This means that the principle on the note will be $115,500. The terms of the note include a 12 month length, a 12% interest rate, and 4 origination points paid by Darryl when the deal is closed. By the terms of the loan, Darryl will have to pay an origination charge of $4,620 at the closing (4% x $115,500 principle amount) and will then begin making payments of $1,155 monthly ($115,500 principle amount x 12% interest / 12 months). he will also make a final payment of the $115,500 principle amount when the loan expires, or sooner if he decides.

Loan Example 2

Regina takes a private money loan from Anchor and Anvil in order to rehab a property to resell in Chicago, IL. The loan has the following parameters:

$180,000 sales price
80% loan-to-value (LTV)
6 month term
10% rate of interest
2% origination fee

After the renovation project is complete, if Regina sells the property for $252,000, the final numbers would be the following:

$252,000 sales price
- $144,000 principle on note (80% LTV)
- $36,000 cash paid at closing (20% on 80% LTV)
- $2,880 origination fee (2% of the $144,000 principle)
- $7,200 total interest paid (6 months x 10% interest)
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= $61,920 gross profit (doesn't include taxes or rehab costs)

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