In The Black Commercial Finance

About In The Black Commercial Finance

In The Black Commercial Finance is a Charlotte, NC based hard money lender providing loans in Charlotte. They provide ground up construction loans and commercial loans. They offer rates starting at 3.75% , loan amounts ranging from $200,000 to $100,000,000, and terms up to 10 years. They provide loans on all the following types of properties: multi family residences, retail units, office buildings, apartments, industrial buildings, and storage facilities.

Loan Types Offered: Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Multi Family, Retail, Office, Apartment, Industrial, Storage

Areas Served: Charlotte

Lending Guidelines for In The Black Commercial Finance

Below are the general loan guidelines published on the In The Black Commercial 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 In The Black Commercial Finance.

Loan Example 1

Enrique is an entrepreneur in Charlotte, NC. He wants to buy a new warehouse for his company but he isn't able to secure a commercial mortgage from his bank due to his below average FICO score. He looks to In The Black Commercial Finance for a commercial private money loan to close the acquisition. The new property will cost $350,000. Based on a 50% loan-to-value (LTV) agreed to by the lender, the loan principle is $175,000. The additional $175,000 will be be paid by Enrique. In addition, the lender will charge a 3 point origination fee in combination with the 12%, 6 month term on the note. They will not enforce a pre-payment penalty in the event that Enrique pays off the note early. Enrique will have to pay an origination fee of $5,250 and will then start to make the interest payments of $1,750 ($175,000 principle x 12% interest rate / 12 months in a year). He can pay back the note whenever he decides to because there is not a pre-payment penalty but he is responsible for the full principle amount whenever he concludes the loan.

Loan Example 2

In The Black Commercial Finance makes a private money loan to Bobby for a renovation project in Charlotte, NC. The deal dictates the following:

a) A $200,000 sales price, b) a 65% loan to value (LTV), c) a 6 month term, d) a 13% interest rate, and e) a 1% origination fee.

After the renovation project is completed, if Bobby sells the property for $260,000, the final numbers would be the following:

$260,000 sales price
- $130,000 principle on note (65% LTV)
- $70,000 down payment (35% on 65% LTV)
- $1,300 origination points (1% of the $130,000 principle amount)
- $8,450 total interest paid (6 months x 13% interest)
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= $50,250 gross profit (doesn't include taxes or rehab costs)