We can help obtain funding for California commercial hard money seconds. While many commercial property owners have equity in their property, tapping that equity is not always as easy as it could be. With a hard money second on commercial property in California, we can help access that equity, while leaving your existing debt in place.
Our commercial hard money seconds take a second position subordinate to the existing debt. With these loans, the value of the property is the main focus. There are typically no debt service coverage ratio (DSCR) numbers that are required, and we can even help on properties that are currently vacant and generating no income.
These loans are business purpose loans only. No consumer purpose is allowed. We can help finance for individuals, LLC's, Corporations, Trusts and other ways that title may be held.
These hard money seconds are for California properties only. We cannot help if the property is not located within the state of California. We can help on most property types where the loan can be made against the real estate value. Our loan to value ratio will be based on real estate value only, not the business value.
Typically we can put a commercial hard money second together up to about 65% cumulative loan to value. In other words, the existing loan plus our new loan must be a total of 65% or less of the total real estate value.
These second position loans on commercial properties are typically short term solutions. 12-36 months is the typical term, although each scenario is different and we may be able to help with a longer term loan if needed. These loans are typically interest only, and often times have no prepayment penalty.
If you own commercial property and have been trying to access equity with no luck, give us a call today and see if we can help. Our California hard money seconds can fund swiftly, typically in 1-3 weeks, and the paperwork required is straight forward. Call for more information at 877 462 3422, or visit our main site at acalending.com.
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