Apply For Funding

For those with good credit, staying power and a worthwhile project:

Work with a team that has over 40 years of banking, funding and management experience.

In regards to loans, business financing, start-ups and Franchise support there are various projects and/or scenarios that are possible. These include real estate development projects. Apartments or condo conversions to apartments in large cities are usually desirable. Under most circumstances in today’s climate gold courses, condos, casinos and hotels are problematic unless there are unusual very positive circumstances. In fact we do have a source of funds for some hotel projects. We can also do start-ups for good franchises (not pizza or Quiznos anymore however), factoring, refi’s and equipment leasing. Oil and gas are not our expertise so they are out as is the buying and reselling of homes.

In order to get started with any project we only want some thumbnail information before we call the owner of the project:

* How much $ is needed for the project?

* How much $ is already invested in the project?

* Amount of down payment available.

* Do the owners have experience in the project field, and how much?

* What is the specific use of the funds?

* If a development project; is it “shovel” ready?

* Do the owners either own or control the land?

* Ability to sustain the project (approximate NW)

* How is the credit of the owners? (important-must be 690 FICO or above)?

* The name and details of the owner and their willingness to speak with us.

* If you have 3 year P & L’s showing trends this is fine.

Full detailed information, plans, studies are not necessary at first as we can get these after we analyze the above.

Note that we have access to a well known retirement fund that may be available for apartment projects in large cities. Minimum funding is $20 million with the lowest possible rates (30 day LIBOR + 0% + fees) on a 5 year renewable note. (Renewals are at higher interest rates). Normally 25% down is required but there is a possibility of 100% is the owners want to give up a 25% interest.
What’s good in today’s market;

1. Unsold pieces of condos which are called “tail pieces”. We can get financing for up to 55% of the value using 1-3 year bridge loans. The money can be used to promote the vacancies through extensive advertising or adding amenities. (which I have some idea about).

2. Condo conversions to apartments. This is especially viable if they are near the water (beach).

3. Funding for Marinas. The fickle banks like these projects at the moment.

4. Senior housing and age restricted (over 55) housing.

5. Hotel refurbishing.