Real Estate Financing
Real Estate Financing
Acquisition Financing
The purchase of real estate is an essential part of growth and expansion for most businesses. Whether funds are needed for purchasing a building to be used for storage, expansion, or owner occupation, a real estate acquisition loan is often the first choice. most businesses are eligible for financing, including manufacturing, wholesale, service, professional service or retail.
We offer long-term loans, between 10 to 20 years, for the purchase of commercial real estate. Applicants are required to inject approximately 10 percent of the total real estate cost. The low interest rates make our acquisition loans very affordable, particularly for small businesses.
Construction Loans
We offer short-term construction loans, typically 3 years in length, to finance development projects. These loans are secured by a mortgage and are used to cover the cost of development and building construction. The funds are disbursed as needed, as parts of construction are completed, or according to a prearranged schedule.
Our construction loans are available for construction of new facilities, or to modernize, renovate or convert existing facilities. Funds can also be used for the purchase of fixed assets like interior or exterior improvements, street improvements, utilities, parking lot construction or landscaping. We provide options like low APRs and easy repayment plans, making our short-term construction loans perfect for many businesses.
Development Loans
A short-term loan, between 1 to 3 years, a development loan is used to help in the development of lands for construction. Development loans are used for the construction of buildings, excavation work, running electrical lines, or the installation of storm sewers and roads. They typically require that the property is used as collateral until it is sold or can financially support permanent financing.
Unlike construction loans, in which funding is used for building improvements, a development loan is used before there are any buildings on the land. Our development loans feature up to 65% Loan to Value and low APR making them the most desirable financing for businesses looking for funding for development projects. Typically proof experience will be required for approval.
Permanent Real Estate Loans
Permanent financing is acquired after the completion of construction or improvement projects. Our permanent loans are long-term, between 15 – 30 years in length, for the financing of fixed assets like real estate.
Funds can be used to repay loans for construction, property acquisition, or to refinance against existing debt. Permanent financing is also known as a permanent mortgage. With a qualifying credit score and Loan to Value ratio of up to 85%, business owners will be approved for funding. Applicants will need to provide DOT and clear title to qualify for permanent financing.
Hard Money Loans
When a credit score is less than desirable, or a business has been denied for a loan in the past, our hard money loans are a great option for funding. Instead of using credit history as collateral, some type of asset is typically used to ensure repayment.
Traditional banks do not offer these types of loans, which can make this loan difficult to obtain. Our hard money loan APR varies depending on the size and scope of loan needed and can be anywhere from 9% to 18%. Applicants will need 65% – 75% Loan to Value ratio for approval. A hard money loan is typically more desirable and attainable than a traditional loan for businesses who do not meet traditional criteria or have a lower credit score
Fix and Flip Lines of Credit
Our fix and flip lines of credit allow an investor to acquire, improve, and resell a property for profit with potentially little or no money out of pocket. Typically fix and flip lines will fund up to 100% of the purchase and repair price, as long as the loan amount is 70% or less of the appraised after repair value (ARV).
Funding is usually used for the purchase of property, repairs, contractor fees, listing and broker fees, and other aspects of property investment. These short-term loans are typically repaid with proceeds from the sale of renovated properties and are usually 1-12 months in length. Our fix and flip lines are readily available for businesses with 2 or more years of experience in the industry.
Bridge Lines | Bridge Loans
We offer short-term loans which are typically repaid over 3 years while waiting for long-term financing to be funded. Most commonly known as a bridge loan, these are also known as “caveat loan,” and, less often, as a swing loan.
These short-term loans allow the borrower to meet current financial obligations by providing immediate cash flow. Funding can be used to pay employee wages, business utility bills and other accounts payable. We provide bridge funding options for businesses who are applying for long-term loans so that they can avoid delay in operations. With low APR, a bridge loan is typically approved for seasoned businesses with experience and a comprehensive portfolio.
P.O Box 591 Lithia FL – 33547
contact@probusinessfinance.com
813-226-7342
For more information contact us.
Para mas información contactenos.
For more information contact us.
Para mas información contactenos.
(813) 226 - 7342
contact@probusinessfinance.com