Private Lending Group

About Private Lending Group

Private Lending Group is a private lender headquartered in Oakbrook Terrace, IL offering funding throughout Chicago. They offer loans for a variety of scenarios, including commercial hard money loans, fix and flip loans, and short term loans. Their loan parameters are flexible, including rates ranging between 8% and 14%, loan amounts ranging from $100,000 to $3,000,000 with a maximum LTV of 80%, and terms between 1 year and 4 years. They will make loans on various property types, including single family residences, multi-family, apartment buildings, office units, retail units, hotels/motels, storage facilities, senior housing communities, mixed use spaces, warehouses, industrial buildings, medical buildings, undeveloped land, and churches.

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, Land, Church

Areas Served: Chicago

Lending Guidelines for Private Lending Group

Below are the general loan guidelines published on the Private Lending Group 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 Private Lending Group.

Loan Example 1

Private Lending Group makes a hard money loan to Kim for a remodeling project in Chicago, IL, on a house that costs $230,000. The terms of the loan include a 85% loan-to-value (LTV), so she must contribute 15% of the price as cash to closing, which makes the principle loan amount $195,500. The parameters of the note also stipulate a four percent origination fee that is to be paid at the closing and a 18 month, interest only note with a 11% interest rate.

The borrower must fund a total of $32,400 up front to pay the $34,500 down payment plus the $7,820 origination fee. she must then pay $1,792 per month to Private Lending Group. If Kim meets her goal of a $310,500 total sales price when the loan term expires, she would make a total profit of $40,423 after re-paying the principle amount and subtracting the money she brought to closing, the origination fee, and the total monthly interest payments.

Loan Example 2

Laverne takes out a private money loan from Private Lending Group so she can remodel a house to re-sell in Chicago, IL. The deal has the following terms:

a) A $200,000 purchase price, b) a 55% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 4% origination fee.

If Laverne succeeds in her goal of a $280,000 sales price, the final numbers of the project would be the following:

$280,000 sales price
- $110,000 note principle (55% LTV)
- $90,000 down payment (45% on 55% LTV)
- $4,400 origination points (4% of the $110,000 principle)
- $4,950 interest payments (6 months x 9% interest)
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= $70,650 gross profit (does not include taxes or renovation costs)

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