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    1 Reply Latest reply on Apr 8, 2009 6:53 PM by phanio

    Brokers assistance

    wilfin Adventurer
      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
        • Re: Brokers assistance
          phanio Pioneer
          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.

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