SL Lending

About SL Lending

SL Lending is an Atlanta, GA based hard money lender who provides loans throughout Atlanta. They offer short term loans, fix-and-flip loans, and builder loans. Their loan guidelines are flexible, including terms between 1 year and 35 months, rates ranging from 13%, and loan amounts starting from $35,000 with a maximum LTV of 65%. They will consider various loan requests but mainly focus on single family units and multi-family.

Loan Types Offered: Fix and Flip Loans, New Construction Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: Atlanta

Lending Guidelines for SL Lending

Below are the general loan guidelines published on the SL Lending 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 SL Lending.

Loan Example 1

Herbert closes on a $170,000 rehab project in Atlanta, GA, using a hard money loan from SL Lending. The lender agrees to issue a loan with a 55% loan-to-value (LTV) so they are willing to loan $93,500 on the house. The note is interest-only, paid monthly, and is for 18 months at 14% interest with 2 origination points to be paid when the deal closes.

Herbert will need to contribute $76,500 to closing (45% on the 55% loan to value), plus he will have to pay the $1,870 origination fee. The monthly interest-only payments will then total $1,091 to the lender. At the end of the loan, he sells the rehabed house for $238,000. After deducting the $19,635 in interest expenses ($1,091 times 18 months), the $1,870 origination fee, the $93,500 principle on the loan, and the $76,500 he brought to the closing, he will make a gross profit of $46,495 ($238,000 sales price minus $191,505 in total costs). This profit would be reduced by any building costs paid by Herbert.

Loan Example 2

Lena locates a property in Atlanta, GA to rehab and re-sell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from SL Lending with the following parameters:

$400,000 purchase price
85% loan to value (LTV)
18 month term
13% rate of interest
4% origination fee

After the renovation project is complete, if Lena sells the house for $520,000, the outcome would be as follows:

$520,000 sales price
- $340,000 loan principle (85% LTV)
- $60,000 cash paid at closing (15% on 85% LTV)
- $13,600 origination points (4% of the $340,000 principle amount)
- $66,300 interest payments (18 months x 13% interest)
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= $40,100 gross profit (doesn't include taxes or renovation costs)

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