Prodigy Commercial Lending is an equity-based lender. We loan hard money to our clients for both business and personal investments. We deal with real estate agents, brokers, and borrowers spread out across the United States.
We are direct lenders and thus are able to make swift decisions on loans, unlike others who may need weeks to make a decision. Anyone can do these simple loans, but at Prodigy Commercial Lending we prefer to make the decisions on more complicated loans irrespective of how complicated they are. If you have plenty of equity, we can create a way to make the loan. We also love helping clients that have been turned down by the banks.
Our rates vary depending on the type of property (houses, retail, land, special purpose, residential, business, and office buildings). Other factors considered include the period of the loan, the risk assessment and financial strength of the individual who is purchasing the loan. On the other hand, hard money lenders may offer six to eighteen –month loans while we prefer to do longer loans that can be funded within 7 to 10 days after the appraisal is received and reviewed.
At Prodigy Commercial Lending, our loans are based on the worth of the property. However, we will evaluate the income, though it isn’t a serious factor. We are based on assets and we want you to know that you can do this. We will work closely with you concerning your payments. We prefer loans that range from $80,000 to a s high as $5,000,000. We love our brokers and will pay iout thousands on a monthly basis for referral fees alone to both our brokers and real estate agents.
At Prodigy Commercial Lending, we have been investing in both business and residential real estate in the state for over 40yars. We have over 40 years’ worth experience in financial real estate and are confident that we can provide you a loan that will assist you to progress with your purchase or cash-out.
Equity Financing May Be The Answer
Most borrowers have problems getting approval for financing in the market today. It is for this reason that we have equity financing hard money loans. These loans are based on the equity within your home or property in line with the credit-worthiness of the borrower, though it does not affect the debt-income ratio for the borrower. Our loans are approved swiftly and easy to access. They are quickly funded and only take about 10 days for them to be given after the approval.
Hard money loans may help solve the immediate problem, even if you’ve already been turned down elsewhere. We can help you make short loans that will last for a period of one to three years. These loans use real estate value as collateral for both business and residential investments. The interest rates and lenders fees will all depend on the risk evaluation for each individual loan.
If you need a quick cash-out, give us a call at Prodigy Commercial Lending today!We service the following zip codes and surrounding areas:
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