First Pro Capital Inc
780 Fifth Ave S, Suite 200
Naples, FL 34102
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About First Pro Capital Inc
First Pro Capital Inc is a boutique firm based in Naples, FL providing alternative lending for businesses, commercial real estate, construction build, fix and flip, land and commercial multifamily. We request a minimum credit score of 680. Must have a minimum of 10%, seasoned and sourced funds.32 Years of Experience in FinanceElite ResponsivenessNo Upfront Broker FeesFree Lending Consultation
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Loan Types Offered: Commercial Hard Money Loans, Hard Money Loans, New Construction Loans, Investment Property Loans, Fix and Flip Loans, Refinance / Cash Out Loans, Bridge Loans
Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Church, Land
Areas Served: Naples, Fort Myers, Destin, Palm Beach, Jupiter, Pompano Beach, Cape Coral, Boca Grande, Estero, Bonita Springs, Fort Lauderdale, Miami Beach, Coral Gables, Rosemary Beach, Broward County, Miami-Dade County, Palm Beach County, Collier County, Lee County, Charlotte County, Martin County, Orange County, Manatee County, Sarasota County, Indian River County, Walton County, Okaloosa County, Hillsborough County, Pinellas County, Marion County, Flagler County, St. Johns County, Duval County, FL
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Lending Guidelines for First Pro Capital Inc
Below are the general loan guidelines published on the First Pro Capital Inc website. Please confirm all terms and rates directly with the lender.
Commercial Hard Money Loans
Loan Amounts: $250,000 - $50,000,000
Available Rates: 6% - 13%
Typical Terms: 18 months - 60 months
Points Charged: 1%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 DaysHard Money Loans
Loan Amounts: $250,000 - $50,000,000
Available Rates: 10% - 13%
Typical Terms: 12 months - 24 months
Points Charged: 1% - 2%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 DaysNew Construction Loans
Loan Amounts: $250,000 - $12,000,000
Available Rates: 12% - 13%
Typical Terms: 12 months - 24 months
Points Charged: 1%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 DaysInvestment Property Loans
Loan Amounts: $250,000 - $10,000,000
Available Rates: 6% - 13%
Typical Terms: 12 months - 24 months
Points Charged: 0.5% - 1%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: YES
Minimum FICO Score: 680
Time to Close: 10 DaysFix and Flip Loans
Loan Amounts: $250,000 - $5,000,000
Available Rates: 12% - 13%
Typical Terms: 12 months - 18 months
Points Charged: 1%
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 85%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 DaysRefinance / Cash Out Loans
Loan Amounts: $250,000 - $5,000,000
Available Rates: 6% - 10%
Typical Terms: 60 months
Points Charged: 1%
Max Loan-to-Value (LTV): 75%
Max Loan-to-Cost (LTC): 75%
Owner Occupied Allowed: YES
Interest Only Loans: NO
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 DaysBridge Loans
Loan Amounts: $350,000 - $10,000,000
Available Rates: 10% - 13%
Typical Terms: 12 months - 24 months
Points Charged: 1%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 70%
Owner Occupied Allowed: YES
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 10 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by First Pro Capital Inc.
Loan Example 1
Leslie runs a small business in Miami, FL and needs to acquire a new building for his operations. Because he cannot secure a commercial mortgage from a bank, he looks to First Pro Capital Inc for a commercial hard money loan. The cost of the property is $160,000 and the lending company agrees to contribute 55% of the cost (the loan-to-value / "LTV"), or $88,000. The remaining $72,000 will need to be funded by the borrower when the transaction closes. The deal also includes a 6 month length, a 14% interest rate, interest only payments made monthly with a final payment when the note expires (without a pre-payment penalty), and a 3 point origination charge. Leslie may eliminate the note at any time if he pays back the $88,000 of principle, however, he will be required to make $1,027 monthly interest payments ($88,000 principle amount x 14% interest / 12 months) in the meantime, or until the loan expires. Because there is no pre-payment penalty, the only other cost he will have to pay is the $2,640 origination fee which he will contribute at the closing.
Loan Example 2
Rachel takes a loan from First Pro Capital Inc so she can renovate a townhouse to flip in Miami, FL. The deal has the following terms:
a) A $380,000 purchase price, b) a 65% loan to value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 1% origination fee.
Once the renovation project is finished, if Rachel sells the property for $494,000, the numbers would be as follows:
$494,000 sales price
- $247,000 note principle (65% LTV)
- $133,000 down payment (35% on 65% LTV)
- $2,470 origination fee (1% of the $247,000 principle)
- $27,170 interest payments (12 months x 11% interest)
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= $84,360 total profit (does not include taxes or rehab costs) -
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