The Benefits Of Choosing Prodigy Commercial Lending
At Prodigy Commercial Lending company, we offer equity-based loans where we lend hard money both for commercial and residential investment units. We are based in the United States. We work with a team of real estate agents, brokers, and borrowers across the U.S.
Since we are direct lenders, we make quick decisions on loans which is different from other lenders who may require a few weeks to come up with decisions regarding loans. Our loans are easily accessible by everyone. The amount of loans you can take with us depends on the amount of equity you have. We make decisions even on the more complicated loans. We are happy to help customers whose banks have turned down.
The rates for the loans we offer vary depending on the type of property given as equity for a loan. The commonly given equity are apartments, retail, warehouses, residential, commercial, office buildings, and land among others. To access a loan, the following factors ought to be considered which are the term of the loan to be taken, risk assessment of the loan, the financial position of the loaned among others. We give loans that have a high repayment period. These loans are processed within a few days normally 7 to 10 days and the one being loaned receives them immediately after appraisal. Some lenders, however, give loans with a shorter repayment period, usually six to eighteen months.
Since our loans are mainly based on the equity of the property, we take time to review the income of the one we are to offer the loan. We will first evaluate the worth of your assets and work closely with you regarding the loan repayment terms. Our loans range from $80000 to $5000000. Brokers and real estate agents earn are paid every month for every referral they bring to us.
At Prodigy Commercial Lending, we have invested in commercial and residential real estate for over 40 years in the United States of America. We are confident that we will offer you a loan that will help you satisfy your needs. We have lots of experience in financial and real estate management.
Equity Financing May Be The Answer
Many borrowers don’t get approved for financing easily today and this is where equity financing or hard money loans come in. The loans are based on equity and do not put much emphasis on the creditworthiness of the borrower. The loans do not affect the debt to the income ratio of a given borrower. They are easy to procure and they get funded within ten days from the time of approval and upon getting the appraisal.
The hard money or equity-based loans help to solve an immediate problem. Our loans at prodigy use real estate as collateral both for commercial and residential investments. Interest rates for these loans depend on the risk evaluation s for each of the loans. For fast cash out, give us a call at Prodigy Commercial Lending today.We service the following zip codes and surrounding areas:
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