Ohio Commercial Loans

About Ohio Commercial Loans

Ohio Commercial Loans is an asset-based lender in Cincinnati, OH offering funding across the United States. Their focus is primarily on commercial loans. They will make loans on numerous types of properties, including multi family residences, apartments, office units, retail storefronts, hotels and motels, storage buildings, senior communities, mixed use buildings, warehouse buildings, industrial buildings, and medical facilities.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: National

Lending Guidelines for Ohio Commercial Loans

Below are the general loan guidelines published on the Ohio Commercial Loans 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 Ohio Commercial Loans.

Loan Example 1

In order to buy a new retail space for his business, Gordon turns to Ohio Commercial Loans to fund his acquisition with a commercial private money loan since he is unable to obtain a standard loan from a bank. The property carries a price tag of $300,000. Gordon will need to put 15% down, or $45,000, since the lender will fund only 85% of the purchase (the loan-to-value or "LTV"). This means the principle amount on the deal is $255,000. The lender also specifies the following terms of the transaction: 1) a 10% interest rate, 2) a 12 month term with interest-only payments monthly, 3) an origination fee of 4 points paid by Gordon when the deal closes, and 4) no fees for pre-payment. Gordon will be required to pay an origination fee of $10,200 and will then begin to make the monthly payments in the amount of $2,125 ($255,000 principle amount x 10% interest / 12 months in a year). He can repay the note whenever he wants to since there is not a pre-payment penalty but he is responsible for the full principle when he concludes the loan.

Loan Example 2

Serena takes out a hard money loan from Ohio Commercial Loans in order to remodel a house to resell in Tacoma, WA. The loan has the following parameters:

a) A $320,000 purchase price, b) a 50% loan-to-value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 4% origination fee.

Based on a $480,000 sales price at the end of the 12 month term, the outcome for this deal would look like the following:

$480,000 sales price
- $160,000 principle (50% LTV)
- $160,000 down payment (50% on 50% LTV)
- $6,400 origination points (4% of the $160,000 principle)
- $16,000 interest payments (12 months x 10% interest)
-----------------------
= $137,600 gross profit (doesn't include taxes or renovation costs)

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