We refinanced the borrower’s 1st mortgage, provided additional renovations funds, and delivered a 5-year fixed, 25-year commercial mortgage at 7.5%. Retail strip-malls in different states were cross-collateralized for this loan.
We refinanced the borrower’s 1st mortgage which was coming due and provided a stated income, 30-year fixed commercial mortgage at 8.99%. The tenants included a church, and we funded the loan in only 26 days.
Building a real estate brokerage can be a rewarding and lucrative opportunity, but it isn’t something to rush into. You’ll want to do your research and carefully consider your options before making any major decisions.
Branching out into real estate investment is an exciting opportunity, and if done thoughtfully, can turn a tidy profit for investors. However, this opportunity also comes with risks that can be financially detrimental.
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.
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