We are a lending firm in the United States that grants hard money for both commercial and residential investment loans. We work with real estate agents, brokers, and you as the borrower.
At Prodigy Commercial Lending, we are direct lenders, making it faster for us to make quick decisions on loans, unlike others who may require many weeks to make a decision. Any person can start an easy loan lending firm, but we prefer to work with complicated loans regardless of how complex they are. We can always find a way to process the loan if you provide us with a lot of equity. We are a backup plan in case the banks have turned you down.
Depending on the type of property (apartments, retail, land, warehouses, special purpose, residential, commercial, and office buildings) our rates will always vary. Other terms that we look at are; the term of the loan, risk assessment and the financial condition of the borrower. Our loans take about 7 – 10 days to be processed after the appraisal is received and reviewed.
Even though we may review the income, our loans depend on the equity of the property. All we ask is your trust and assurance that we can do this. We also work with the borrowers’ closely regarding their payments. We mostly specialize in working with loans that range from $80,000 to as high as $5,000,000. We also work closely with our brokers and real agents, giving them monthly referral fees.
As a lending firm with over 40 years of experience working with financial real estate, we are confident to offer you a loan that will help you to move forward with your purchase or cash out.
Equity Financing May Be the Answer
Equity financing or hard money loan is described as the method of raising capital by selling the company or property stock to investors; in return for the investment, the shareholders receive ownership interests in the company or property. This makes us help borrowers who have problems in getting approved for the financing market today. These hard money loans use the borrowers’ equity that is within the home or property in lieu of their credit-worthiness. It doesn’t affect the debt-to-income (DTI) ratio for the borrower. These loans usually take a maximum of 10 days to be given out after the appraisal.
Equity financing may help to solve an immediate problem that you may have, even if you have been turned down elsewhere. At Prodigy Commercial Lending, we help our clients to get a short term loan that will last from one to three years. These short term loans usually use real estate equity as the collateral for both commercial and residential investments. The interest rates and lender fees will always vary depending on the risk evaluation for each individual loan.
Call Prodigy Commercial Lending today if you need fast cash out today.We service the following zip codes and surrounding areas:
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