BLS Finance

About BLS Finance

BLS Finance is a Charlotte, NC based private lender who offers loans throughout Charlotte. Their lending focus is mainly on commercial loans. They provide loan amounts ranging from $75,000 to $100,000,000. They will make loans on the following property types: multi family residences, apartments, offices, retail units, hotels/motels, storage facilities, senior housing facilities, mixed use buildings, warehouses, industrial buildings, medical offices, and raw land.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: Charlotte

Lending Guidelines for BLS Finance

Below are the general loan guidelines published on the BLS Finance 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 BLS Finance.

Loan Example 1

Shelly is an entrepreneur in Charlotte, NC. She decides to acquire a new warehouse for her business but she is not able to obtain a commercial mortgage from her bank due to her below average credit rating. She looks to BLS Finance for a commercial hard money loan so she can close the acquisition. The price of the building is $270,000 and the lender agrees to contribute 65% of the cost (the loan to value / "LTV"), or $175,500. The other $94,500 will need to be paid by the borrower when the transaction closes. The terms of the note include a 6 month term, a 12% interest rate, and 3 origination points to be paid by the borrower when the deal is executed. By the rules of the deal, Shelly will need to pay an origination charge of $5,265 at the closing (3% x $175,500 principle) and will then begin making payments of $1,755 monthly ($175,500 principle x 12% interest / 12 months in a year). Finally, she will make a final payment of the $175,500 principle when the loan expires, or sooner if she chooses to pay off early.

Loan Example 2

Connie takes out a loan from BLS Finance so she can renovate a townhouse to resell in Charlotte, NC. The deal has the following terms:

$350,000 purchase price
75% loan-to-value (LTV)
18 month term
9% interest rate
5% origination fee

If Connie achieves her goal of a $472,500 sales price, the outcome of the project would be as follows:

$472,500 sales price
- $262,500 loan principle (75% LTV)
- $87,500 down payment (25% on 75% LTV)
- $13,125 origination fee (5% of the $262,500 principle)
- $35,438 interest payments (18 months x 9% interest)
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= $73,938 gross profit (doesn't include taxes or renovation costs)

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