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1 Replies Last post: Apr 8, 2009 6:06 PM by phanio

Brokers assistance

Apr 8, 2009 12:52 PM

Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
One of the guys in my office has a small balance loan he's looking to
fund for a client. It's a commercial building and seller looking for $125K.
Problem is it's in Mich. which is one of the states funding sources turn
their noses up at on real estate funding.Borrower is strong,etc. just
unfortunately in the wrong state according to some of sources. We have
not exhausted all possibilities as we have several sources, but if any fellow
brokers have a resource they know of that does lend on real estate in Mi.
I'd appreciate it.

You can call me at (910)392-8740 or email me at chris.harper@wfginc.net.

Thanks
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Click to view phanio's profile Mogul phanio 483 posts since
Apr 7, 2009
1. Re: Brokers assistance Apr 8, 2009 6:53 PM
Not many commercial RE lenders will touch something under $250K. There are a few unsecured lenders that provide up to $125K in personal facilities and up to $250K in unsecured business loans. But, as you know - requires very strong credit, good income, and low debt ratios.

Business Money Today
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