Grand River USA

About Grand River USA

Grand River USA is private money lender based in Novi, MI. They offer loans throughout Michigan. They offer lending solutions for a variety of needs and situations, including hard money bridge loans and commercial hard money loans. Their lending parameters are versatile, including loan amounts ranging from $100,000 to $500,000,000 and rates ranging between 8.25% and 9.25%. They will make loans on the following property types: multi family, apartments, office units, retail units, hotels, storage buildings, senior communities, mixed use spaces, warehouse buildings, industrial facilities, medical buildings, and churches.

Loan Types Offered: Commercial Hard Money Loans, Bridge Loans

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

Areas Served: MI

Lending Guidelines for Grand River USA

Below are the general loan guidelines published on the Grand River USA 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 Grand River USA.

Loan Example 1

So she can acquire a new office building for her business, Tara looks to Grand River USA to fund her purchase with a commercial private money loan because she isn't able to obtain a conforming loan from a bank. The property will cost $210,000. Based on a 70% loan-to-value (LTV) set by the lender, the loan principle amount is $147,000. The additional $63,000 will be be paid by Tara. The loan also specifies a 12 month term, a 12% interest rate, interest only payments paid monthly with a final payment when the note expires (with no pre-payment penalty), and a 4 point origination charge. Tara will pay the origination fee of $5,880 and will then begin making the interest payments in the amount of $1,470 ($147,000 principle amount x 12% interest / 12 months). She can repay the note early if she wants to because there is not a pre-payment penalty but she is responsible for paying off the full principle amount whenever she concludes the loan.

Loan Example 2

Grand River USA issues a bridge loan to Sybil for a rehab project in Detroit, MI. The deal dictates the following:

$390,000 sales price
70% loan-to-value (LTV)
6 month term
8% rate of interest
4% origination fee

If Sybil accomplishes her goal of a $487,500 sales price, the outcome of the project will be the following:

$487,500 sales price
- $273,000 note principle (70% LTV)
- $117,000 cash paid at closing (30% on 70% LTV)
- $10,920 origination fee (4% of the $273,000 principle amount)
- $10,920 interest payments (6 months x 8% interest)
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= $75,660 total profit (doesn't include taxes or rehab costs)

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