Business Plan for Prodigy Commercial Lending Company
1.0 Executive Summary
To make quick decisions on loans regardless of how complicated the loan requirements are.
To help customers that financing institutions have turned down
To offer our esteemed customer a loan that will help the client move forward with clients purchase or cash out
2.0 Target Market
Our market is large hence the rates vary depending on:
- the particular type of property like apartments, retail, land, warehouses, special purpose, residential, commercial, and office buildings
- factors involved include:
- term of the loan
- the risk assessment
- financial condition of the person who is borrowing the money
Clients who need fast cash out with a budget of 80,000 dollars to 5000000 dollars. Don’t hesitate to give us a call.
Hard money lenders, on the other hand, may give six to eighteen-month loans and we prefer to do longer loans that we can fund within seven to ten days after appraisal is received and then reviewed.
The best thing is we base our loans on the equity of the property, we will review the income yes, however, it’s not a serious factor, we are based on assets and we want to know that the client can do this with regard to the customer’s payments as we work closely
4.0 Human Resource
Prodigy Commercial Lending Company has been investing in both commercials as well as residential real estate in the United States for well over 40 years. With so many years of hands-on experience in financing real estate, we are confident.
5.0 Vendors or Suppliers
Prodigy Commercial Lending also works closely with brokers who are paid several thousand on a monthly basis for referral fees. The company also works with real estate agents.
6.0 Marketing Plan
A lot of borrowers have problems getting approved for financing in the market today, for this reason, Prodigy Commercial lenders have what is referred to as equity financing or hard money loans. These are loans based upon the equity that is within the client’s home or property in lieu of the creditworthiness of the borrower. It does not affect the debt to income ratio for the borrower. These loans are quickly approved and easy to procure. They are quickly funded and it typically only takes about 10 days for the customer to be given after the appraisal.
Hard money loans usually help solve the immediate problem, even if the client has already been turned down elsewhere. Prodigy Commercial lenders help clients to make short term loans that will last 1-3 years. These loans use real estate equity as collateral for both commercial and residential investments. The interest rates and lenders fees will all be dependent on the risk evaluation for each individual loan.
8.0 Financial Projections
Prodigy Commercial Lending company earns profitability through the loan itself by the interest rates, lenders fees and other fees charged during the process all these are fully dependent on the risk evaluation for each individual loan.We service the following zip codes and surrounding areas:
View a map of our services areas