Get Your Commercial Bridge Loan Maine From An Experienced Hard Money Lender
If you are an experienced commercial real estate investor who appreciates a quick close, then you should choose ABL. ABL is a direct hard money lender who specializes in making commercial bridge loans.
As a hard money lender, I understand time value of money. That is why ABL offers real estate investors a two day streamlined approval process. Once the loan is approved, I issue a commitment and can close in as little as 7 days. Post-closing, I can fund commercial bridge loans in 48hrs, which keeps your project running on schedule.
A hard money lender has to be flexible, no two real estate investments are identical. My borrowers know that and come to me for the flexibility of ABL's hard money lending program. Banks and other traditional sources are check the box lenders, they simply can’t compete with our common sense underwriting approach.
I offer competitive rate and terms for experienced real estate investors. ABL's a trusted hard money lender that offers 18 month terms at no additional cost, and interest rates as low as 10% and 2 points. I charge 1 point at closing, and 1 point on repayment of the loan (payoff letter) which makes our hard money loan program ideal for brokers.
Featured Hard Money Commercial Bridge Loans
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What is a hard money commercial bridge loan Maine?
A commercial bridge hard money loan is for investors who are looking for fast funding to acquire and reposition a retail, office, or industrial property. Usually these investors will add value to the commercial property by leasing the property up, increasing rents, or through renovation. Once the property is stabilized and has 6-12 months of operating history, the borrower will look to a conventional lender like a bank to refinance out of the bridge loan. My hard money loan program offers terms of up to 18 months to provide enough time for the borrower to go through this process. Most private lenders only offer 12 months loan terms. Given the complexity of valuing a commercial property, even as a hard money lender there are certain instances where I will need an appraisal prior to closing your commercial loan. Traditional lenders can take 3 months or even longer to close a commercial bridge loan. My hard money loan program for commercial real estate properties allows me to close your bridge loan in days if needed.
How do I get a commercial bridge loan from a hard money lender?
It’s easy to get a hard money commercial bridge loan! Unlike conventional real estate lenders, a private lender requires a lot less paperwork and a lot less time. Once you get the property under agreement, you call me and provide me with a rent roll, a profit and loss statement, and a proforma. As a first time borrower I’ll need to get to know you and how experienced you are in commercial real estate, so I’ll ask you to provide me with a short bio/resume and examples of properties you have owned. My hard money loan program uses a stated income approach, so I’ll also ask for you to fill out a personal financial statement and a real estate owned schedule. As a private lender, we don’t need tax returns or require a lot on the borrower’s financial condition. At this point I now have the ability to complete my underwriting for loan approval, and within 48 hours I’ll be able to issue you a full commitment. I run a credit and criminal background check after the loan is approved. I only need a minimum credit of 625 to close a hard money loan. As a true hard money lender, I typically don’t need an appraisal to close a hard money loan. However, with commercial property underwriting value can be difficult as it can be difficult to find comps, so there are times when my hard money bridge loan program will require an appraisal prior to closing.
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Pre-qualifying does not require you to provide sensitive personal information. No credit pull needed until the commercial bridge loan Maine is approved/committed by your trusted hard money lender!