Venture Capital hybrid in Minneapolis Mn and elsewhere.

Many companies can not get the VC money they need for start ups. If you have some collateral to inject into the deal we want to talk to you. It can range from art, gold coins to real estate but if you have something of yours (Skin) to throw in the deal we may be able to help.

By definition this is what Venture Capital means:

Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company.

Earlier we mentioned collateral and this some what goes against the definition. However, we take a blend of both shares in your business and collateral. If you is not enough to get what you need to enter the market or increase your market share both may work.

If you have both collateral and a strong business plan that you have not been able to fund please contact our team.

Dax Dickson
612-578-9898

Apartment Loans

Business Loans

Here in the Minneapolis and St Paul Metro area community and national banks love apartment buildings and they consider them a great asset.  What you have been hearing on the news, "With the current credit crisis there is no money to lend" is not true.  For those experienced investors there is an abundance of money to lend to qualified, experienced real estate investors.

If you need:

- Refinance loans on currently owned apartment buildings

- Construction financing to either build new or rehab existing apartment buildings

- Purchase mortgage to buy a cash flowing apartment building

In the Minneapolis or St Paul, MN metro area there are plenty of banks to work with.

We can help you or your client analyze the debt service coverage (DSCR) or cash flow of an existing or new apartment complex.  Our team can also help direct you to the national or community lender that can fund this deal and make it reality.

If you need additional information about apartment consulting or loan financing feel free to contact our team!

Dax Dickson

The Commercial Finance Store

Located in St Paul, MN

Serving the Minneapolis and St Paul, MN Metro area!

612-578-9898

So many people think that this credit crisis is making it impossible to get financing loans for rehab construction projects, business loans and aparment or income property mortgages.

This is not the case.

There is plenty of money for qualified borrowers in the Minneapolis or St Paul, MN metro area.

If you are buying or refinancing:

- Bank owned homes

- Apartments or other income properties

- Industrial or hospitality property

We can help!  There is plenty of loans for qualified real estate and borrowers!

Dax Dickson

612-578-9898

Minneapolis Bank Owned Rehab Market

Here is the Minneapolis metro area there are more deals than money.  This is the absolute truth!

The biggest problem I have is finding qualified investors to work with.  The rehab construction loans are available to those who qualify.  These loans are easy to get for the investors that really intend on buying ten plus bank owned rehab properties in Minneapolis or St Paul, MN metro area. 

If you are an agent or investor struggling to find the financing to buy, fix and either sell or rent these great bank owned rehab properties in the Twin Cities, MN metro we need to talk. 

Looking forward to hearing from you!

Dax Dickson

Located in St Paul MN

Serving the Minneapolis and St Paul, MN Metro Area

612-578-9898

SBA

You can use an SBA loan to refinance business debt resulting in a longer term and lower payments!!! Interest rates are at an all time low, and the program fee is currently waived !!!

The SBA recently made refinancing of commercial debt much easier by lifting many of the old restrictions on taking out existing debt. SBA loans of up to $2,000,000 can be used to refinance equipment (10 years), leases (10 years), real estate (25 years), inventory (up to 10 years) and even working capital (up to 10 years).

Whether you want to free up more cash to fuel growth or just need a little more breathing room, an SBA refinancing may be your answer. We can refinance the following types of business loans:

·Long term debt structured with a demand note or balloon payment;

·Debt with an interest rate that exceeds the SBA maximum interest rate for the processing method being used

·Credit card debt - if it can be shown the card was for business use only

·Debt that is over-collateralized based on SBA's collateral requirements

·Revolving lines of credit (short term or long term) where the original lender is unwilling to renew the line or the applicant is restructuring its financing in order to obtain a lower interest rate or longer term;

·Debt with maturity that was not appropriate for the purpose of the financing (e.g., a 3 year term loan to finance a piece of equipment with a useful life of 15 years); and

Call us for more info at 612-578-9898

I am proud to Present Tim Jochim as the newest member of The Commercial Finance Store!

Tim comes to us with years of finance experience. He will be taking over the Rehab Construction Financing and Consulting.

Below is the program Tim is now in charge of.


LIST OF ITEMS REQUIRED TO UNDERWRITE A REHAB CONSTRUCTION LOAN

Required Documentation:

- A PERSONAL FINANCIAL STATEMENT (PFS) FOR EACH PARTNER with an interest of 20% or more.

- BANK STATEMENTS and ASSET STATEMENTS for any and all accounts listed on the PFS

- LAST 3 YEARS' TAX RETURNS (business & personal) for each partner with an interest of 20% or more in the project.

- COPY OF FULLY EXECUTED PURCHASE CONTRACT.

- SWORN CONSTRUCTION STATEMENT including hard and soft costs.

- BACKGROUND/BIO ON EACH PARTNER emphasizing development/construction/renovation/real estate experience and past projects successfully completed.

- Copy of your credit report if available.


General Loan Requirements:


1.) Minimum 660 FICO score
2.)If rental, minimum 1.25 Debt Service Coverage Ratio (DSCR)
* If using DTI, maximum of 45%
* Can blend with global calculation
**If DTI and DSCR do not work we can use marketing plan and pledge payment reserves to bank
3.) Six months reserves
4.) Purchase plus construction = X, Loan amount = 80% of X


*** The documents listed above are the documents we require to evaluate the borrower and issue a pre-approval. Every deal is different so the bank may require some additional documentation or clarification. ***

If you would like to learn more please contact:

Tim Jochim
The Commercial Finance Store
Rehab Construction Specialist
612-702-1111
timjochim@comcast.net

Rehab Loans are a great way to buy investment reo properties in the Minneapolis and St Paul Metro area.


How they work:

Purchase + Construction costs = X

Rehab loans require a 20% down payment of X

This means that 80% of all costs are financed

These loans do require proof of repayment and credit scores of a 620 FICO or better


Many investors and agents do not qualify for the most populiar rehab loan called the FHA 203K. It is a common mistake made that people think the only way to buy these great bank owned properties is cash if they can not get the FHA 203K loan or other conventional mortgage programs.

This is not TRUE!!!

Qualified borrowers can buy using commercial rehab construction loans. Both for buying to fix and sell or buying to fix and rent.

If you or a client of yours would like to learn more about these great loan programs do not hesitate to contact me.


Dax Dickson
Owner
The Commercial Finance Store, LLC.
612-578-9898

I have heard many real estate agents say that the only way to close on condemned houses is cash.

This is not true!

There is a GREAT residential REHAB loan:

This is how it works:

- 80% LTV of the purchase plus construction costs
- 620 Minimum FICO
- 50% DTI

It is that easy!

Dax Dickson

The Commercial Finance Store

Owner

612-578-9898

Agency or Government Guaranteed Mortgage Financing

FNMA, Freddie Mac, FHA/HUD and USDA guaranteed debt financing is available for Multi-family market rate and affordable housing and senior rental projects.  Retail elements in mixed use projects may be eligible in some cases.  Construction/permanent loans are available from FHA/HUD and USDA.

Small and Rural hospital financing is available under FHA Section 242 programs, as is  enhanced and unenhanced bond financing.

Rates are presently highly competitive.  Loan to value ratios range from 75% to 90%, depending upon the agency.  FHA/HUD, FNMA and Freddie Mac have non-recourse features.

Documentation Required for Application

Documentation varies by lender, with each agency having a number of specific forms to complete.  Borrowers should be ready to supply:

1. Three years personal tax returns of any of the principals owning 20% or more of the projects.
2. Three years business tax returns if a refinance of an existing property.
3. Sworn construction statements, when applicable.
4. Rent rolls, by month for the preceding twelve months.
5. Two years income and balance sheet projections, with the first year by month.
6. Old appraisals, environmental reports or market studies, if available.
7. Personal financial statements of any principal owning 20% or more of the project.
8. Credit reports of the principals, if available.

Additional information will be required by the various lenders depending upon the type of project and the lender selected.

Dax Dickson

The Commercial Finance Store

Serving Minneapolis / St Paul MN and surrounding areas

612-578-9898

We also can help facilitate your commercial real estate mortgage loan needs from construction financing to securing the long term mortgage debt on existing properties owned and business loans.

The Commercial Finance Store is ready to help you secure the business loans your company needs!

SBA 504 Loans

These loans are for owner occupied (51% of space or more) commercial real estate.  Features of the program are:

• The maximum loan amount is $4,000,000.
• The loan to value is 90%, reducing to 85% if the property is single-purpose.
• The rate is fixed, with an amortization period of 25 years.  Rates presently range from 5.75% to 6.25%.
• SBA guarantee fees have been waived.
• Prepayment penalties are negotiable.

If you need help securing financing for your business, contact us.  We will help you from writing your business plan to closing your business loan.

Dax Dickson

The Commercial Finance Store

Serving Minneapolis / St Paul MN and surrounding areas

612-578-9898

We also can help facilitate your commercial real estate mortgage loan needs from construction financing to securing the long term mortgage debt on existing properties owned.