Business Loans have... in the past been somewhat difficult to obtain. There are many reasons why the above statement is true. I'm sure you could name ten or so off the top of your head. Reasons like credit, income or the lack of a good solid P&L Statement, etc...
Well, what we've noticed as of late (when we rolled out our new "Equities Now" product is this. Business Owners taking advantage of leveraging their "Treasuries." Say for instance that they wish to borrow $500,000 but don't qualify for an SBA Loan or other commercial lending programs. Hard Money rates are too high but they need the money fast. "Equities Now" allows the borrower to retain ownership of their invested "Treasuries" and leveraging them up to a 94% - 98% LTV, while getting an extremely low rate at the same time - interest is ONLY charged on the amount used. It works somewhat like an Equity Line of Credit and remains a safe way to tap the asset for long term needs like retirement, etc...
It takes about 24 hours to underwrite and approximately 3 days to fund... perfect for borrowers in need of a "Bridge Loan" of sorts. So, a borrower with $500,000 in treasuries (in the above example), could take advantage of using 98% of this portfolio's power. There is no income verification, no other asset verification, and employment or citizen issues don't apply.
To learn more about "Equities Now" - you can shoot me a personal email at eggers.jim@gmail.com or call us at 239.878.7873
Comments