Gencor Commercial Capital

About Gencor Commercial Capital

Headquartered in Scottsdale, AZ, Gencor Commercial Capital is a hard money lender offering funding throughout Arizona and Florida. They provide lending solutions for a variety of needs and situations, including fix-and-flip hard money loans, commercial hard money loans, and short term bridge loans. They offer loan amounts ranging from $50,000 to $5,000,000 with a maximum LTV of 70%, rates ranging between 7.99% and 14%, and terms between 3 years and 5 years. Their loan parameters do not include a minimum credit score. They will make loans on all the following property types: single family homes, multi family, apartment buildings, office units, retail storefronts, hotels, storage buildings, senior housing communities, mixed use buildings, warehouses, industrial facilities, and medical buildings.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

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

Areas Served: AZ, FL

Lending Guidelines for Gencor Commercial Capital

Below are the general loan guidelines published on the Gencor Commercial Capital 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 Gencor Commercial Capital.

Loan Example 1

Gencor Commercial Capital makes a hard money loan to Nina for a remodeling project in Miami, FL, on a house that is listed for $300,000. The borrower will have to bring 30% of the sales price in cash to closing based on a 70% loan to value set by the lender. This makes the principle amount from Gencor Commercial Capital $210,000. The terms of the deal also include a three percent origination fee that is to be paid at closing and a 6 month, interest only note with a 10% interest rate.

According to the terms of the note, Nina will need to pay a $6,300 origination fee plus 30% of the sales price, or $90,000, based on the 70% LTV. The lender will collect $1,750 in monthly interest payments from the borrower. This is calculated by taking the full loan value of $210,000, multiplying by the 10% interest rate, and then dividing that number by 12. If she sells the remodeled house for $450,000 at the end of the 6 month term, her gross profit (not including renovation expenses) would be $133,200. This is calculated by taking the purchase price ($450,000) and subtracting the original principle ($210,000), the origination cost ($6,300), the money she brought to closing ($90,000), and the total interest expenses ($10,500).

Loan Example 2

Sherry is a an investor in Miami, FL. She purchases a run-down property for a renovation project and takes out a hard money loan from Gencor Commercial Capital with the following terms:

a) A $320,000 sales price, b) a 65% loan to value (LTV), c) a 18 month term, d) a 9% interest rate, and e) a 2% origination fee.

Based on a $464,000 sales price after the 18 month term, the final numbers for the deal would look like this:

$464,000 sales price
- $208,000 note principle (65% LTV)
- $112,000 cash paid at closing (35% on 65% LTV)
- $4,160 origination points (2% of the $208,000 principle)
- $28,080 interest payments (18 months x 9% interest)
-----------------------
= $111,760 gross profit (doesn't include taxes or renovation costs)

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