Being declined for financing is a setback, but it doesn’t have to be a struggle anymore.
When you need financing and you don’t fit a typical bank model, nor do you want the crippling fees of hard money, The Web Lender Portal facilitates true no income verification solutions with low rates. We understand your concerns and we are here to help you. Here’s how:
Private Money Non-Recourse
A non-recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize and sell the collateral, but if the collateral sells for less than the debt, the lender cannot seek that deficiency balance from the borrower—its recovery is limited only to the value of the collateral. Non-recourse debt is typically limited to 50% or 60% loan-to-value ratios. The Web Lender Portal surpasses the norm by facilitating up to 70%.
The incentives for the parties are at an intermediate position between those of a full recourse secured loan and a totally unsecured loan. While the borrower is in first loss position, the lender also assumes significant risk, so the lender must underwrite the loan with much more care than in a full recourse loan.
Asset finance refers to the use of a company’s balance sheet assets, including short-term investments, inventory and accounts receivable, in order to borrow money or get a loan. The company borrowing the funds must provide the lender with security interest in the assets. This differs considerably from traditional financing, as the borrowing company must simply offer some of its assets in order to quickly get a cash loan.
Hospitality, Medical, Retail, and Assisted Living
Commercial real estate is commonly divided into six categories:
– Office Buildings – This category includes single-tenant properties, small professional office buildings, downtown skyscrapers, and everything in between.
– Industrial – This category ranges from smaller properties, often called “Flex” or “R&D” properties, to larger office service or office warehouse properties to the very large “big box” industrial properties. An important, defining characteristic of industrial space is Clear Height. Clear height is the actual height, to the bottom of the steel girders in the interior of the building.
– Retail/Restaurant – This category includes pad sites on highway frontages, single tenant retail buildings, small neighborhood shopping centers, larger centers with grocery store anchor tenants, “power centers” with large anchor stores such as Best Buy, PetSmart, OfficeMax, and so on even regional and outlet malls.
– Multifamily – This category includes apartment complexes or high-rise apartment buildings. Generally, anything larger than a four-plex is considered commercial real estate.
– Land – This category includes investment properties on undeveloped, raw, rural land in the path of future development. Or, infill land with an urban area, pad sites, and more.
– Miscellaneous – This category includes any other nonresidential properties such as hotel, hospitality, medical, and self-storage developments, as well as many more.
True No Income, Asset Verification Loans
No income, no asset (NINA) is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan.
NINA programs are ostensibly created for those with hard to verify incomes (waiters, etc.) but in actuality have been popularly used in situations where aggressive mortgage lenders and brokers did not want any trouble qualifying otherwise non-qualifying loans, thus becoming a significant factor in the subprime lending crisis. A significant number of NINA loans were never possible for the applicant to repay and have resulted in defaults for this reason.
A NINJA loan is a nickname for very low-quality subprime loans. It was a play on NINA, which in turn is based on the notation scheme for the level of documentation the mortgage originator required. It was described as a no income, no job, [and] no assets loan because the only thing an applicant had to show was his/her credit rating, which was presumed to reflect willingness and ability to pay
Fix & Flips Line of Credit up to 20 Properties
Profits from flipping real estate come from either buying low and selling high (often in a rapidly rising market), or buying a house that needs repair and fixing it up before reselling it for a profit (fix and flip).
Under the fix and flip scenario, an investor or flipper will purchase a property at a discount price.
The discount may be because of:
– the property’s condition (e.g., the house needs major renovations and/or repairs which the owner either does not want, or cannot afford, to do), or
– the owner(s) needing to sell a property quickly (e.g., relocation, divorce, pending foreclosure).
The investor will then perform necessary renovations and repairs, and attempt to make a profit by selling the house quickly at a higher price. The fix and flip scenario is profitable to investors because the average homebuyer lacks the time and funds to repairs and renovations, so they look for a property that is ready to move into. Also, most traditional mortgage lenders require the home to be habitable with no significant repairs.
Construction loans are short-term loans used to finance the building of a home or another real estate project. The builder or home buyer takes out a construction loan to cover the costs of the project before obtaining long-term funding. Because they are considered fairly risky, construction loans usually have higher interest rates than traditional mortgage loans.
NNN Credit Lease to 100% Financing
In United States real estate business, net lease is a term used for an arrangement in which the tenant or lessee is responsible for paying, in addition to base rent, some or all of the expenses related to real-estate ownership. These expenses, often called the three nets, are property taxes, insurance, and maintenance. Because the rent collected under a net lease is net of expenses, it tends to be lower than rent charged under a gross lease. Net lease types include single net, double net, and triple net leases, with the term net lease often being used as a shorthand expression for any of these arrangements. A triple net lease (i.e., one that is net of all three of the major expense categories) is often abbreviated as an NNN lease but is still pronounced as triple net lease.
Equipment finance can help mitigate the uncertainty of investing in a capital asset your business needs until it achieves a desired return, increases efficiency, saves costs or meets other business objectives. Equipment financing may hedge inflation risk because instead of paying the total cost of equipment up front or with a large down payment in today’s dollars, the stream of payments delays your outlay of funds. In addition, either a lease or loan can lock in the rates that exist on the date of the closing. In other words, the finance company absorbs the devaluation of your payments over time due to inflation and other financial risks.
Hard money loans are a specific type of asset based lending through which a borrower receives funds secured by the value of a parcel of real estate. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years. Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers.
A Foreclosure Bailout Loan is a mortgage designed to save homeowners from having the properties being foreclosed upon by their banks. It is considered a refinance loan. The homeowner takes out a mortgage to pay off the current loan that is in default status.
Businesses turn to bridge loans when they are waiting for long-term financing and need money to cover expenses in the interim. For example, imagine a company is doing a round of equity financing expected to close in six months. It may opt to use a bridge loan to provide working capital to cover its payroll, rent, utilities, inventory costs and other expenses until the round of funding goes through.
Although rare, bridge loans sometimes pop up in the real estate industry. If a buyer has a lag between the purchase of one property and the sale of another property, he may turn to a bridge loan. Typically, lenders only offer real estate bridge loans to borrowers with excellent credit ratings and low debt-to-income ratios. Bridge loans roll the mortgages of two houses together, giving the buyer flexibility as he waits for his old house to sell. However, in most cases, lenders only offer real estate bridge loans worth 80% of the combined value of the two properties, meaning the borrower must have significant home equity in the original property or ample cash savings on hand.
In addition, The Web Lender Portal facilitates Short Term Loans secured by real property (up to $50 million), Merchant Cash Advance – Unsecured, SBA loans, and Jumbo Residential Financing.
The Web Lender Portal facilitates lateral cost effective financial solutions.
Acquisition Loans, Asset Finance, Bridge Loans, Business Credit Lines, Construction Loans, Corporate Finance, Debt Finance, EBITDA, Equipment Finance, Equity Finance, Factoring, International Finance, Joint Venture, Mezzanine Finance, Secured Loans, Term Loans, Trade Finance, Unsecured Loans, Venture Capital.
Serving these sectors:
Accommodation, Aerospace, Agriculture, Biotechnology, Commercial Real Estate & Development, Construction, Energy, Entertainment, Health Care, Hotels, Infrastructure Development, IT/Telecommunications, Manufacturing, Mining, Natural Resources, Oil & Gas Exploration & Pipelines, Power Distribution, Power Generation, Power Plants, and Renewable Energy
THE WEB LENDER PORTAL
Facilitating lateral cost effective financial solutions worldwide