This transaction was a short term Pasadena commercial hard money second that we funded. The borrower had the property on the market, but needed cash to continue business operations and pay taxes. We were able to assist with a hard money second – leaving their existing first in place – allowing them to access the cash required while not having to refinance the existing debt on the building.
The property was unique, and had been on the market for a little while when we were contacted. The property was an auto dealership with auto body repair services. Many lenders do not like to lend on these types of properties – especially in second position.
Our commercial hard money second allowed our clients to keep the property on the market, maintain their business and pay debts that were a priority. Maintaining the business was important to the sale, and being able to access cash while the property was on the market was a big benefit to our hard money loan. In addition, with the property being on the market our clients did not want a prepayment penalty. We were able to structure this loan with no prepayment penalty.
Typically speaking, our hard money seconds are shot term loans. Usually 12-24 months, although longer terms are possible. They are typically interest only, and we can secure most property types, with the exception of raw land, in a second position. If the loan to value is good, we can also go in third or even fourth position should the transaction require.
For more information about what we can offer, visit our main California hard money loans page. If you are in need of a hard money second or third, give us a call to discuss your scenario. You can reach us at 877 462 3422. Usually we are able to let you know if we can potentially help with a short ten minute conversation.
This recent Oakland hard money loan funding to 80% LTV closed with cash out for property improvements. We were able to help our client with an aggressive, short term loan for property improvements with no fund control account for the work to be done. This property is located in Oakland. Our client owned this investment […] Continue reading →
We are able to help with hard money loans throughout the state of California. This recent Sacramento commercial hard money loan was funded for a client needing to close quickly on the acquisition of a strip mall. Our client had the property locked up with multiple offers behind him. We were able to put together […] Continue reading →
We can help facilitate Marin hard money construction loans. Located in the San Francisco Bay Area, Marin is one of the more desirable locations. While the location is highly desirable, new construction can be a challenge to get local approval for. We have experience working with construction loans in Marin and understand many of the […] Continue reading →
We are able to help with San Francisco hard money second loans. These are loans that are secured in a second position, allowing our clients to keep their existing loan while accessing the equity in their property. These San Francisco hard money seconds are ideal for investors who have a great bank loan on the […] Continue reading →
All California Lending is able to help with non bank financing throughout the state of California. We can help secure funding for most locations, including Truckee hard money loans. This recent funding was a Truckee hard money construction loan. We were able to assist with funding to secure the purchase, construction and interest reserves for […] Continue reading →
We offer San Bernardino hard money loans for rental property. On this transaction we were able to assist a client looking for cash out on a rental property owned free and clear. The cash out was to address some business debts as well as to invest in new machinery to increase their business income level. […] Continue reading →
This transaction was a business purpose loan to help our client expand her business. We were able to help her obtain the funds required by making a hard money second loan on her property located in Fremont California. Time was of the essence in this transaction, and we were able to complete the process […] Continue reading →
This recent Los Altos private hard money loan funding was a great property and scenario. Our client was in need of funding to further improve the subject property as well as to invest in other real estate projects. The property was recently converted from a long term rental to a short term rental, utilizing Air […] Continue reading →
This recent funding was a Los Angeles cash out hard money loan transaction. The client had purchased the property earlier in the year with a substantial down payment with the goal of rehabbing and reselling the property. After the property was acquired the tenant did not want to leave, choosing to stay for the full […] Continue reading →