Benworth Capital
7000 SW 97th Avenue, Suite 201
Miami, FL 33173
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About Benworth Capital
Benworth Capital is a Miami, FL based private lender providing funding in Florida. They offer cash out hard money loans, long term rental property loans, and fix and flip hard money loans. Their lending parameters are flexible, including loan amounts ranging from $40,000 to $4,000,000 with a maximum LTV of 65% and terms starting at 12 months. They primarily provide loans for single family residences.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans
Property Types Covered: Single Family
Areas Served: FL
Licenses: NMLS #329578
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Lending Guidelines for Benworth Capital
Below are the general loan guidelines published on the Benworth Capital website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: $40,000 - $4,000,000
Available Rates: N/A
Typical Terms: 12 months and up
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: $40,000 - $4,000,000
Available Rates: N/A
Typical Terms: 12 months and up
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/ARefinance / Cash Out Loans
Loan Amounts: $40,000 - $4,000,000
Available Rates: N/A
Typical Terms: 12 months and up
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Benworth Capital.
Loan Example 1
Pauline finds a condo in Miami, FL to rehab and resell. Since she doesn't have enough cash available to buy the $290,000 house outright, she decides to take out a hard money loan from Benworth Capital. The loan to value (LTV) on the note is 85%. This means that Pauline will bring 15% of the purchase price to the closing and the principle amount will be $246,500 on the loan. The rate on the note is 11% for a length of 12 months and the lender requires a four point origination fee at the closing. The interest is to be paid on a monthly basis and the principle will be paid back after the sale of the property.
Therefore, the borrower will have to contribute a $43,500 down payment in addition to paying a $9,860 origination fee. After the loan is executed and Pauline takes over the project, she will begin making payments each month of $2,260 to the lender ($246,500 principle x 11% / 12 months). At the expiration of the loan, she sells the renovated house for $391,500. After deducting the $27,115 in interest payments ($2,260 times 12 months), the $9,860 origination fee, the $246,500 principle amount on the loan, and the $43,500 she contributed to the closing, she will earn a gross profit of $64,525 ($391,500 price minus $326,975 in total costs). This amount would then be reduced by any renovation costs paid by the borrow.
Loan Example 2
Adeline is a an investor in Miami, FL. She finds a run-down house for a remodeling project and takes out a hard money loan from Benworth Capital with the following features:
$210,000 sales price
60% loan to value (LTV)
18 month term
13% rate of interest
5% origination feeBased on a $273,000 sales price at the end of the 18 month term, the outcome for this deal would look like this:
$273,000 sales price
- $126,000 note principle (60% LTV)
- $84,000 down payment (40% on 60% LTV)
- $6,300 origination fee (5% of the $126,000 principle amount)
- $24,570 total interest paid (18 months x 13% interest)
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= $32,130 total profit (does not include taxes or renovation costs) -
by Zaheer ishaque 11/23/2021
They are very professional. I had ppp loan through this lender . Every thing went smoothly. Thanks to benworth capital.
They are very professional. I had ppp loan through this lender . Every thing went smoothly. Thanks to benworth capital.by HP 11/03/2021
I was connected with Benworth Capital by Lendio. I applied for my second round of PPP at the specific calculated amount, and Benworth Capital stated that it would actually end up being under that amount I requested. I was fine with that as long as the funds would come quickly as I needed the funds to help pay my employees. A few days later, they said I was actually approved for more than the amount they initially approved me for. Then, when it came time to apply for forgiveness, I was told that only about 80% of the loan would be forgiven and I had to pay back the remaining amount they had approved the second time around. After several attempts to find out what was wrong, I finally got into contact with Toya De La Cruz and Rodrigo Borja. They basically said I had to pay that money back because I received the restaurant revitalization fund and so was only entitled to a certain amount. I was never informed this by Benworth Capital when I signed off on this. In fact, if I knew I had to pay this money back, even though I used it solely for wages for my employees, I would not have accepted the amount they offered. They just informed me I could pay it back now all at once, or wait for the 10 month deferment. No apologies, no solid explanation as to why they didn’t reveal this prior. Now, I have to pay back the amount plus 1% interest for every month that I had this loan, which is completely deceptive, since that means I’ll have to pay anywhere from $1000-$3000, depending on when they finally send me the payoff letter. Again, had they disclosed this information, I WOULD NOT HAVE ACCEPTED increased amount for the PPP loan. I have had no such issues with the other banks that I have dealt with for the other PPP loans for my other restaurants. Toya De La Cruz and her team have no idea what they are doing, and their practices are predatory and deceptive, all the while taking advantage of those who are struggling through the pandemic.
I was connected with Benworth Capital by Lendio. I applied for my second round of PPP at the specific calculated amount, and Benworth Capital stated that it would actually end up being under that amount I requested. I was fine with that as long as the funds would come quickly as I needed the funds to help pay my employees. A few days later, they said I was actually approved for more than the amount they initially approved me for. Then, when it came time to apply for forgiveness, I was told that only about 80% of the loan would be forgiven and I had to pay back the remaining amount they had approved the second time around. After several attempts to find out what was wrong, I finally got into contact with Toya De La Cruz and Rodrigo Borja. They basically said I had to pay that money back because I received the restaurant revitalization fund and so was only entitled to a certain amount. I was never informed this by Benworth Capital when I signed off on this. In fact, if I knew I had to pay this money back, even though I used it solely for wages for my employees, I would not have accepted the amount they offered. They just informed me I could pay it back now all at once, or wait for the 10 month deferment. No apologies, no solid explanation as to why they didn’t reveal this prior. Now, I have to pay back the amount plus 1% interest for every month that I had this loan, which is completely deceptive, since that means I’ll have to pay anywhere from $1000-$3000, depending on when they finally send me the payoff letter. Again, had they disclosed this information, I WOULD NOT HAVE ACCEPTED increased amount for the PPP loan. I have had no such issues with the other banks that I have dealt with for the other PPP loans for my other restaurants. Toya De La Cruz and her team have no idea what they are doing, and their practices are predatory and deceptive, all the while taking advantage of those who are struggling through the pandemic.by Lashantia davis 05/17/2021
Worst lender ever I been on borrower funded since Wednesday and I still have not been funded I do not recommend
Worst lender ever I been on borrower funded since Wednesday and I still have not been funded I do not recommendby Lashantia davis 05/10/2021
WORST LENDER EVER IM STILL NOT FUNDED
WORST LENDER EVER IM STILL NOT FUNDEDby Shannon. W 05/08/2021
They have help me start to get business up and running again. I’m waiting on my second review and they have been amazing! I can’t say enough great things about Benworth Capital!!!
They have help me start to get business up and running again. I’m waiting on my second review and they have been amazing! I can’t say enough great things about Benworth Capital!!!by Shannon. W 05/08/2021
They have help me start to get business up and running again. I’m waiting on my second review and they have been amazing! I can’t say enough great things about Benworth Capital!!!
They have help me start to get business up and running again. I’m waiting on my second review and they have been amazing! I can’t say enough great things about Benworth Capital!!!by Antionette White 05/07/2021
I am very grateful for Bentworth Capital for providing their excellent and timely services. Even though these have been tough times, I am very appreciative for Bentworth Capital.
I am very grateful for Bentworth Capital for providing their excellent and timely services. Even though these have been tough times, I am very appreciative for Bentworth Capital.by Eugene 05/07/2021
This company should get 5 stars ⭐️
This company should get 5 stars ⭐️by LooksLikeTrouble 05/06/2021
Worked with me to get the most out of the PPP loan program!
Worked with me to get the most out of the PPP loan program!by LooksLikeTrouble 05/06/2021
Worked with me to get the most out of the PPP loan program!
Worked with me to get the most out of the PPP loan program!by 40 Dollar Towing LLC 05/06/2021
Great company received my 1st and 2nd draw in a timely manner. Thank you
Great company received my 1st and 2nd draw in a timely manner. Thank youby BruceChanhkongsinh 05/05/2021
Thank u, for your quick n easy process... Your assistance, was very appreciated.. And I truly give a 5star rating, and my approval for your professionallism...
Thank u, for your quick n easy process... Your assistance, was very appreciated.. And I truly give a 5star rating, and my approval for your professionallism...by Mike G 05/05/2021
I am gratefull for these folks at Bentworth Capitol. Working with them for the ppp was quick and painless. They help me in my time of need and brought me peace of mind missing since 2019. Thank you Bentworth Capital..
I am gratefull for these folks at Bentworth Capitol. Working with them for the ppp was quick and painless. They help me in my time of need and brought me peace of mind missing since 2019. Thank you Bentworth Capital..by Steve Vargem 12/18/2020
They do not honor broker fees. They paid only half of agreed fees. They said it was due to renegotiated with client. No phone call or any communication. Henry said he would make it right and did not follow through. Do not do business with this company
They do not honor broker fees. They paid only half of agreed fees. They said it was due to renegotiated with client. No phone call or any communication. Henry said he would make it right and did not follow through. Do not do business with this company
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