August 24, 2020 By karenschimpf@gmail.com
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Why would you need Commercial Bridge Money?
We have expanded the coverage of what our private money can do, growing our platform above $2 Million up to $20 Million! This is a direct lender platform, we can close off our balance sheet (quickly) with an in-house credit committee in as little as two weeks! THIS IS ESPECIALLY GOOD for renovation, rehab and stabilization capital on deals that many times are not cash-flowing at closing.We can also provide preferred equity for the right transactions, especially value-add and lease-up opportunities!$2mm to $20mm nationwide, with closings in as little as 2 weeks. Below is a loan we closed just last week….Just Closed: $3.4 Million Cash Out Loan
The Struggle:
A long established business had miscalculated deliverables and had hit hard times. They had almost $2 Million dollars in aged payables and their vendors had stopped shipping to them. Their numbers did not support even an SBA loan. They had a contract that would change the game and needed money to do it. They did own their property and had some equity, but most private money lenders did not want to cash out to a mostly single tenant struggling company on a large office/warehouse building in a secondary market. If the business failed, you were stuck with a big building that may or may not be moved quickly. We took the time to get on the call, get to know the sponsors and get the full story. A deep dive into the market showed us that even if the deal went bad, there was a market for the asset in this non-major metro. The site visit went great and we ended up closing the loan in 3 weeks, getting the company the critical money they needed, paying off all the aged payables and opening up the vendors to once again ship to the company basically saving a generational business that had been in the family for years. We performed where others passed.
These are exciting times at Commercial Capital as our portfolio of products continue to grow. One call does it all…just call me today so you can get your loan closed at 512-358-1511.