See on Scoop.it – Real Estate Finance
Up to 80% of the purchase price or 65% of Market Value (whichever is lower) o Up to 55% on commercial properties Fast Closings 100% CLTV Rehab loans case by case 5 Lender points Up to 24 Months 15%…
Download the app: http://jdbfinancialllc.com/_documents/Noscoreloanpackage.pdf
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See on Scoop.it – Business Funding
BUSINESS AND WORKING CAPITAL FUNDING Many businesses and business owners face the challenge of finding the capital to improve or increase the cash flow of the business, especially when in a growth …
Working Capital for All Businesses
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See on Scoop.it – Business Funding
NO! Stop wasting your time searching, it’s like searching for bigfoot. In all seriousness, 100% funding is very hard to find. Lenders of all types want to see skin in the game. They want to know yo…
Quick but helpful read on getting deals to the closing table
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See on Scoop.it – Business Funding
We provide entrepreneurs with flexible funding the need to succeed. JDB Financial LLC can get you funding fast by leveraging the strength of your personal credit. We’ve added quite an array of prod…
Fast #Funding to build your #business
See on jdbfin.wordpress.com
We provide entrepreneurs with flexible funding the need to succeed.
JDB Financial LLC can get you funding fast by leveraging the strength of your personal credit.
We’ve added quite an array of products for business owners and for the individual. All cash programs require financial documentation
Our in-depth understanding of small business lending means we can provide lines of credit to new and growing businesses in as fast as 2 weeks.
About Business Credit Lines
Common Uses
Program 1. Business and Personal Cash Lines of Credit
This is a credit and income driven program.
Funds up to 250K with business credits, 150K w/o cards
All three credit scores must be 680 or higher.
Required Docs for Business LOCs:
Required Docs for Personal LOCs:
Program 2. Combination Funding
This is a credit and income driven program.
Funds up to 850K through a combination of business and personal lines of credit, loans and credit cards with an emphasis on business funding products
All three credit scores must be 700 or higher.
Required Docs for Business LOCs:
Required Docs for Personal LOCs:
Program 3. No Doc Business Credit Cards Only
This a credit driven product, no docs required
Cards can easily be converted to cash
All three credit scores must be 700 or higher. (We’ve funded as low as 660)
This program has a credit repair component, if your credit profile is not quite where it needs to be to receive funding, we’ll work with to you to get your credit were it needs to be to get funding.
Business credit building through Dunn & Brad is also a component of this program. This program goes far beyond basic funding, the support system to get you business financially sound is unmatched
Option 1. Business Term Loan
Income, asset and credit driven program
Get for established businesses, looking for working or expansion capital
Loans from $50,000 to $5 million
• 48 hours pre-approval
• Low interest rates (10.99% or less)
• Free loan assessment consultation
• Package the loan application
• Assist you throughout the process
WHEN THE BANKS SAY “NO”, I AM YOUR NEXT CALL
NO! Stop wasting your time searching, it’s like searching for bigfoot. In all seriousness, 100% funding is very hard to find. Lenders of all types want to see skin in the game. They want to know you are vested in the project. There are some cases where ARV lenders will roll all cost into the loan, if the numbers will allow for it. Even with this type of loan, reserves will be required. HOWEVER, there are a few creative ways to structure a 100% financed deal. Below you will find two easy, but effective ways to structure a 100% financed deal!
1. 100% CLTV
This is a deal where a lender will lend you the borrower a certain percentage of the purchase price, normally 55 to 65%. The lender will take first position and allow the seller to carry a 2nd position mortgage for the remaining balance of the purchase price. To make a transaction like this you need one thing;
A cooperative and creative seller. The seller must be willing to accept the fact he/she may not get the entire sales price in one lump sum. You may have to be able to clearly explain the structure of a transaction like this to the seller to ensure he/she feels comfortable with this type of deal structure. Let the seller know the mortgage and lien will be recorded and there are no additional costs to the seller to make this deal work. Often your Hard Money Guy will be willing to speak to the seller and help explain the process and aid you in giving the seller the “warm and fuzzies” about the deal. Older or retired sellers, burnt out landlords, absentee owners and owners who own their properties free and clear are good candidates for this type of deal structure. Don’t be afraid to offer structure like this, the thought of residual income is appealing to many sellers; what’s the worse they can say, no? If you’re a serious investor you’ve heard no several times. My mentor told me if my first offer didn’t embarrass myself, I offered too much. (Maybe that’s why I am a finance guy and not an investor).
When won’t this structure work?
a) Bank owned properties (REOs), will not be an option. Banks are the opposite of cooperative and creative.
b) Sellers with a high balance mortgage on the property will also not be a fit for this deal structure. The amount of the first position loan must exceed the amount of the mortgage on the subject property.
c) Deals were realtors are involved may be present an obstacle as well. Realtors are paid a percentage of the sales price, so some realtors may advise the seller NOT to accept your offer. Not that I blame them, I’d rather be paid on the full amount as well. However, the seller can still pay the realtor a commission based off of the entire sales price; problem solved.
2. Cross-Collateralization
With cross- collateralization you or a partner must own a piece of property free and clear. The free and clear property can be used in lieu of the cash down payment the lender will require for your purchase. Of course the value of your free and clear property must be equal to or greater than the amount you need for the down payment. The lender will place a lien on your free and clear property as well as the subject property. This structure does not require cooperation from the seller. It does not affect the broker’s commission. It’s all about the property you are collateralizing. Be prepared to pay for an appraisal on both the F&C property and the subject property, but in some cases the lender will settle for a BPO. Not every lender will allow for 100% financing transactions like this, but your Hard Money Guy should be able to help you find a lending source who allow for deals structured like this.
Unfortunately I don’t have one big 100%, free money loan for you, but I have given two realistic, legal ways to get 100% funding for your investment deals. Even with these two types of transactions most lenders will want to see you pay the closing cost and points and will also want to see that you have liquid reserves. The truth sometimes sucks, but it needs to be said. Add these two deal structuring methods to your mental rolodex and go make some offers!
I look forward to being your source for real estate and business funding
That Hard Money Guy
330 832 5253
When the banks say “NO”, I’m your next call
JDB helps middle market companies by providing them with various financial products, ABL and business loans to meet their financing needs. Providing financing in over 15 foreign currencies and has a presence in 5 continents. Asset-Based loans provide businesses with immediate funds and ongoing cash flow in the form of a revolving line of credit based on a percentage of the value of the company’s assets, such as commercial accounts receivable, machinery & equipment and inventory. Businesses pay interest only on the funds they’ve drawn.
Our Products and services include:
Features:
Criteria
Most companies qualifying for an asset-based loan will be B2Bs (business-to-business) in manufacturing, wholesale, distribution or business services generating commercial accounts receivable invoices. In most cases, annual sales range between $1 million and $250 million. The due diligence period for lines of credit approvals are often 20 to 30 days and require the following:
Top 5 Reasons Companies Choose Asset-Based Lending
We will need to collect the following to obtain proposals from potential lending sources:
When the banks say “NO,” I am your next call
330 832 5253
That Hard Money Guy Blog 
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