During the Pandemic many Lenders changed their lending parameters.
As many Commerical Property owners struggle to recover from the high vacancy factors since March of 2019, some have found it difficult to refinance current properties. especially those with office buildings.
Banks and other Lenders have all but walked away from refinancing Office Buildings and stray away from low occupancy retail centers.
Hard Money is not the most favorable solution but is a short-term alternative for many property owners as they work to reduce vacancies.
Hard Money Loan rates vary from 8% to 12% and are typically interest only payments.
Residential Ground Up Construction Loans
Most lenders require that you already have acquired the property and have a set of approved plans. Construction loans are typically a Draw scenario.
We have a variety of options available.
Give us a call or use the Contact form and arrange a Conference Call!
Don't go at it alone!
When you go to a bank or a loan company, they have maybe one or two options for you and will try to steer you towards those options even if they aren't the best fit for your business.
At Fargo Capital, we have relationships with multiple lenders and shop for the best rates and programs for your business.