Why You Should Consider Prodigy Commercial Lending
We give money for both commercial and residential investment. At Prodigy Commercial Lending, real estate agents, brokers, and borrowers work with us. These workers are spread across the United States. The equity for the money we lend is usually on real property.
Our loans are processed quickly since we are fast at making decisions. As for other lenders, it can take weeks to make decisions. Anyone can access the easy loans with us since we make decisions on every case regardless of its complexity. With a lot of equity, we find a way to help a borrower get a loan. We are happy serving customers that have been turned down by the banks.
The dominant determinant factor for our rates is the type of property. This Varies from (apartments, land, retail, warehouses among others). Other factors include the term of the loan, risk assessment, and the financial condition of the customer. Hard money lenders give six to eighteen-month loans but we prefer to do longer loans which are funded within 7 to 10 days after appraisal.
The property forms the basis for our loan equity since a review of the income is not necessary. The assets help us to determine whether to give you a loan or not. Since our loans range from $80,000 to $5,000,000, we work with brokers and real estate agents who make referrals and get paid every month.
We as Prodigy Commercial Lending have invested in both commercials and residential real estate for over 40 years in The United States. We have a lot of experience in financing real estate and are confident that we can offer a loan that will help with your purchase and cash out.
Equity Financing May Be the Answer
Since financing in the markets is a problem for many buyers today, there is a room created for equity financing or hard money loans. The loans are based on equity within a home or property as opposed to the creditworthiness of a borrower. These loans are approved and procured with ease. The assessment of the loans does not take much time; it will take you around 10 days to get funded.
If a borrower is unable to access a loan elsewhere; hard money loans can help in solving an immediate problem. We can help you make short term loans from 1 to 3 years to repay. Real estate equity is used as collateral for both commercial or residential investments. Each loan dictates the interest rates and lender fees to be paid. This also determines the risk evaluation for each loan. Give us a call at Prodigy Commercial Lending today, for fast cash out.We service the following zip codes and surrounding areas:
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