Hyak Financial
Commercial Lending Product Udpate
Just a quick post to let you know about a couple of new commercial loan products Hyak Financial is offering:
Development Funds (Private Trading Platforms)
I’ve seen a lot of Private Trading Platform funds coming available in recent months. Although this is not a traditional funding source, it appears to be an excellent product for ‘qualified’ developers with good projects.
- For Development Projects $5-100 million in size.
- Developer/Project Owner must have cash (and prove it), usually 10-15% of project cost.
- Cash is put into either a CD or US Treasuries in the borrowers name.
- Project is Qualified and then Funded, in many cases this is non-recourse.
Securities Financing
A Securities Loan allows investors to borrow against their securities portfolio to create liquidity while staying in the market and enjoy the benefits of dual appreciable assets at once.
- Can borrow up to 80% or more of the value of your security
- No maximum loan amount
- Interest Rate can be as low as 4%!
- Non-Recourse – no credit bureau reporting
- Response typically within 48 hours of receipt of quarterly report, securities statement, etc.
- Funding within 7 to 10 days from contract execution
- May be used to purchase real estate outright, pay off a hard money loan and more…
- Loan is NOT securitized by real estate
- Maintain ownership of stocks and gain if your securities rise.
SBA Financing (7A & 504) and USDA
We have several lenders being very aggressive with their SBA and USDA programs as well.
- Financing for Restaurants and Franchises Available
- 7A Financing for Gas Stations and C-Stores (Up to $2 million)
- Average LTV on SBA transactions is 85%
- USDA B & I Loans for Rural Populations (Under 50k), used for acquisition, repair, modernization and more.
Of course we still have financing for owner-occupied real estate, multi-family, and more.