A new RealEstateBees.com survey of over 2,000 active hard money lenders found that despite the negative impact on their business caused by the COVID-19, more than 80% are seeing new opportunities opened by the pandemic.

NORWALK, CONNECTICUT, UNITED STATES, August 24, 2020 /EINPresswire.com/ — South End Capital, a nationwide, non-conforming lender and intermediary providing commercial and non-owner occupied residential real estate mortgages, and business loans, has announced the re-opening of its innovative subprime Small Business Administration (SBA) loan program.

One of the most comforting things about reality is that crises don’t last forever. However, with some situations, the ramifications that a crisis can cause will be felt for months or even years after it ends. The impact of the current events on the commercial real estate industry has been hotly debated, especially in what regards the effects of the ongoing pandemic and resulting social distancing rules that have caused a significant drop in demand for office spaces. The question is how deeply the industry will be affected by these changes in the long term. 

In the rental market, a tenant’s experience usually depends on the potential landlord. While location and space are certainly important when renting, the relationship you have with your property manager can directly impact your quality of life—and you’ll have that relationship until your lease ends.

Branching into the commercial real estate market is often a lucrative investment. However, there are challenges to managing these kinds of properties, especially if you’re new to the industry or have only had experience in the residential sector. To help you successfully enter the world of commercial and retail real estate, we asked the experts of Forbes Real Estate Council to share their personal insights. Below are their top tips for managing commercial and retail properties.

South End Capital did an excellent job and was very creative and responsive to line up our SBA loan! They are a team of committed and caring individuals with deep knowledge on how to get it done. Throughout the process, I felt so lucky to be able to rely on their advice. 

The SBA has issued some additional guidance on the CARES Act Paycheck Protection Program (PPP) which includes the following:

We thought it was extremely important to inform you that the SBA is now providing advances up to $10,000 to small businesses within 3 days. So while we wait for guidance from the SBA on how to proceed with CARES Act Paycheck Protection Program (PPP) financing, you should follow these instructions to receive your advance which DOES NOT need to be paid back. 

The United States Congress has passed several measures in response to the COVID-19 pandemic designed to help small businesses, including tax rebates, tax filing extensions, business loans, emergency relief, and modified tax treatment. Perhaps the most significant benefit, the paycheck protection loan—also known as the coronavirus loan—can convert into a grant for small business owners that use it to cover payroll costs.

A short while ago the CARES Act was signed into law, making $349 billion available to small businesses! So what does this mean for you? If you already have an application in with us for CARES Act SBA business financing, please be assured that you have a secure place in our queue.

We have received hundreds of emails and calls from business owners confused about the SBA relief funding options available. One of the most prevalent questions we have been ask is, “What is the difference between the SBA EIDL and CARES Act program, and which is better?” Business owners also want to know what loan terms are available and if they can apply for both types of relief funding. Outlined below, and to the the best of our ability based on the information available, are the differences between the two programs and the broad strokes of what each entails

Last night the Senate passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), that should it become law (the House will vote on Friday), would expand allowable uses of 7(a) loans to include payroll support (including paid sick or medical leave), employee salaries, mortgage payments, insurance premiums and any other debt obligations.

We’re proud to announce our recent Scotsman Guide March Featured Done Deal! We provided a $768,000 multifamily loan via our small balance real estate program. We are actively lending, and our remote staff is ready to help you! We charge no upfront fees, applying with us won’t affect your credit and takes only about 1 to 5 minutes.   

South End Capital, a nationwide, non-conforming lender providing commercial real estate mortgages, subprime SBA loans, and business financing, has announced its second restaurant loan funding in less than a week.

“Yesterday, while we were delivering $917,000 to an Ohio restaurant in great need of financing, we received news that 3 large national business lenders had terminated lending, and dozens more have put funding on hold” said Noah Grayson, President of South End Capital. “I founded South End Capital in 2009 to help small business owners access capital in times just like these. Our lights are on and we are actively lending.”

$431K refinanced the restaurant’s mortgage, $225K paid off existing SBA loans, $156K paid off a 19.7% business loan + other debt, and the balance was for working capital and closing costs. We delivered a 6% rate, 25 year am., and 100% LTC.

What if I said you could get a loan to buy a self-storage facility in three to six weeks, start to finish, even if you have credit issues, with more flexible terms than you could get from a bank? If you don’t know much about nonconforming loans, you might say I’m crazy—crazy like a fox, that is.

Yesterday, the Congressional Small Business Task Force unveiled a $300B Emergency Coronavirus Relief Package as part of the Keeping Workers Paid and Employed Act, Division A of the CARES Act, This includes:

We provided $400K to refinance the borrower’s existing restaurant, and $1.26M to purchase a vacant restaurant, 8-room motel, and single family home to start a new business. $125K of working capital was also funded. A 92.8% LTC, 6% rate, and 25-year amortization were delivered.

Yesterday the SBA released updated, and more relaxed criteria for Disaster Assistance Loans. The SBA will provide this funding directly, not through us or any other lenders. Your welfare is very important to us, so we wanted to make sure you had this information. 

“Over the last week we’ve been contacted by numerous small business owners seeking disaster relief loans, because they have experienced a sudden decline in their revenue due to rapidly deteriorating economic conditions brought on by the coronavirus” said Noah Grayson, President of South End Capital. “I founded South End Capital in 2009 during the midst of the Great Recession, and developed our loan programs to accommodate small business owners and real estate investors who need affordable access to capital in times just like these.”

We closed a 6.5% rate, 10-year fixed, 25-year amortized, 74% LTV investment property loan. Barriers included collateral located in Alaska, low documentation underwriting, and a high LTV.

Below area selection of subprime SBA loans we recently closed. Also, we’re extending our underwriting fee waiver indefinitely. Apply with no risk and pay $0 until you receive a loan commitment (or a decline if ineligible).

This 7.5% rate, 10 year term loan, had no prepay penalty, consolidated ~$4M of debt, and provided ~$1M for working capital and equipment. There was no real estate collateral except a small 3rd lien filed on the borrower’s home. This business had a $600K+ 2018 loss, and borrower credit was <650.

Have you ever tried to get a conventional business or SBA loan but couldn’t qualify, or just didn’t want to deal with all the paperwork? Our new “unconventional” conventional program, has all the benefits of bank or SBA financing, but is NOT bank or SBA financing. 

Locating a hard money loan to fix and flip an investment property may seem like a daunting task. There are so many lenders on the internet offering all types of programs, but don’t get distracted by gimmicks or teaser rates.

These are no credit score minimum, no tax return purchase, refinance, or cash-out loans up to 80% LTV, with rates from 5.75% fixed for up to 30 years, on the below property types.

Below are a selection of subprime SBA loans we recently closed. Also, we’re extending our underwriting fee waiver until 2/29/20. Save up to $2,500 and pay $0 until you receive a loan commitment (or a decline if ineligible). We closed a 7.5% rate, 100% LTC, 25-year term loan. $1M of debt, 16 liens, paid off over 3 entities (5.5% to 60% rates). Projection based loan, 0.44x 2018 DSCR.

We have a number of promotions running in February as well as program updates we’d like to remind you about. Through 2/29 pay $0 until loan commitment when you apply for a subprime SBA loan. Get working capital, purchase a business or real estate, consolidate debt.

Below are a selection of non-conforming commercial and non-owner occupied residential real estate loans we recently funded. We funded a 6% rate, 30-year fixed, 80% LTV loan, with a 5% for 3 year prepay penalty, in 31 days. Barriers included unrestricted cash-out and a fast close. 

Noah Grayson, President of South End Capital, a nationwide, non-conforming lender providing commercial and non-owner occupied residential real estate mortgages, and subprime SBA loans, has been accepted into Forbes Real Estate Council, an invitation-only community for executives in the real estate industry.