Loan scenario: OH, $$150,000, , 50% LTV, Refinance, full, OO
Property type: COM
Loan purpose: Refinance
Looking for a Lender, no Brokers. Popular BBQ Restaurant in Cleveland,OH.
In Business over 10 years.
Property Value: $300,000
1st Mortgage: $65,000
Money Needed: $75-100,000
The Client also owns a small store worth $75,000 and he owns it free and clear. He's willing to use it as collateral.
He wants to do the loan in the name of his LLC and he's been incorporated for 12 years.
by harold@cherry October 3, 2012 6:26 PM
C.M.G Inc Financial assists in helping out clients to attain hard money for there investment. Your Deal seems like it may fit the criteria of our Loan requirements and we would love to assist you in you venture. please contact us at 206-426-7492 if you are still interested in financing.
Thank You ,
CMG INC FINANCIAL
by C.M.G INC. FINANCIAL GROUP October 4, 2012 12:44 PM
Sorry, probably impossible.
WAYYY too small. Smallest Commercial, SBA, that I have heard of, would be 250K. Unless his local Bank will help him, he is out of luck. Far better deals than this, are going begging today, due to lack of Bank Financing.
Advertise in the local press for Hard Money, after beating your head, again, unless he is Bankable. 5th Third, MAY do this, but, it is probably too small. They do lend in your back yard...
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