Commercial Hard Money Lender in California

Commercial Hard Money Loans

Kevin Green is your go-to source for direct commercial hard money loans in California. Contact me, so I can help you quickly get the financing you need.

Kevin Green and Pacific Private Money is a California-based company. I fund and finance residential and commercial loans for investors and property owners in California. I can help you fund a variety of commercial properties including retail shopping centers, industrial buildings, office buildings, and apartment complexes, warehouses, and more. Check us out today!

Why Choose Kevin Green and Pacific Private Money for Your Commercial Private Or Hard Money Loan?

Kevin Green has been in the industry for more than 24 years. I have provided exceptional service to many real estate investors in California.

My fast, reliable, and straightforward approach to private and hard money loans is exactly what makes us the top company that many investors go to for their commercial private and hard money loan needs. I understand the real estate market and know how to help you in whatever situation you may be in.

As for new investors, we make sure to help you understand the process and educate you on how your specific loan will play a role in your financial success. We want you to succeed, and our goal is to provide the best loan options for you, all as a direct lender.

Commercial Hard Money Loan Rates

Commercial Hard Money Loan Rates

Rates from 7.99-12% with points starting at 1.5-3.5% of the loan amount.

1st, 2nd, and 3rd mortgages (case by case).

  • Loans up to 75% of the purchase price, appraised value, or Broker opinion of value

  • No Minimum Fico scores as we look at credit history.

  • Higher LTV”s on a case by case basis with cross collateral.

Hard Money Loan Program

Loan Application Approval Timeline

Same day approval available

Fees

No appraisal fees (in most situations) and no hidden junk fees

Loan Amounts

$100,000 to

$20 Million

Loan Terms

6 to 36 months

Time to Fund Loan

As few as 3-5 days if needed

Loan to Value (LTV)

Up to 75% of current value of property

What is a commercial hard money loan?

There are many terms used to address commercial hard money loans, so it’s important to avoid confusing this type of loan with others. Some commercial hard money lenders call them private money loans, and some call them bridge loans.

A commercial hard money loan is asset-based lending that is offered by lenders — such as Kevin Green and Pacific Private Money — to those who are looking for commercial financing with the least amount of paperwork and a fast approval process. I will loan you money based on the value of the commercial property you’re using as collateral, which means that credit score requirements are not as strict as they are for other types of loans. This type of loan can be beneficial for borrowers who have less than stellar credit or want to avoid going through a long and difficult approval process.

Private lending offered by Kevin Green and Pacific Private Money might be for you if you are having a challenge with your credit score, if you have a limited income history, if you need a loan quickly or if you have difficulty providing documentation of your financials.

The Benefits of Hard Money Commercial Loans

This type of loan offers flexibility, with many addtional benefits:

  • The application process is fast, easy, and can be completed in one day.

  • It has zero cost upfront with no contract.

  • We can finance you on most commercial and real estate investment properties — which a traditional lender will not finance.

  • You can apply even if you have a bad credit score or a limited income.

Lending Areas

Lending Geography:

All of California, with specific emphasis on the SF Bay Area, Lake Tahoe, Sacramento County, Ventura County, Santa Barbara County, Los Angeles County, Orange County, and San Diego County. Outside of California,  I have 2 million dollar minimum loan size requirement. I will lend on purchase or refinance transactions for all types of commercial properties and SFR 1-4 unit non-owner occupied properties. Check list of our lending areas here.

Lendable Property Types

Property types:

Commercial, multifamily/apartment buildings, mixed use, SFR 1-4 units, condos/townhomes, office, industrial, retail, medical buildings, special use, land, and construction.

Recently Funded Loans

Fast and Easy Process for a Commercial Hard Money Loans

Applying for a commercial hard money loan is pretty straightforward. Here is a sample process:

  1. Contact me over the phone. You can reach me at 415-793-3403. You can also send an email at kevin@pacificprivatemoney.com, so you can schedule an initial consultation.

  2. Pre-Qualification: Before the loan process actually begins, and is usually the first step after initial contact is made. In a pre-qualification, the lender gathers information about the borrower and property being used as collateral for the loan. The property itself is typically the single most important factor when determining whether or not to move forward in the loan process. Other factors, to a lesser degree, include borrower credit and financial stability.

  3. Filling Out a Loan Application: This is where the application really starts. For some other types of loans, the application takes place a day or two after your pre-qualification. For commercial hard money loans, the application takes place on the same day. The lender will ask you for authorization to check your credit rating (in case it’s required), a letter of explanation stating the purpose of the loan, and bank statements or financial statements as proof of affordability. The lender is required to give you a Good Faith Estimate (GFE). The GFE estimates the loan costs, and it’s required to be given to you no later than three days after your application. Also, a Truth in Lending (TIL) statement must be given to you by the lender. This is a disclosure of the loan’s terms and the interest rate charged for the loan.

  4. Processing: Once the application is finished, your loan will begin processing. If it’s required, your credit report will be ordered, and the appraisal on the property that will be used as collateral for the loan is completed. This information — along with verification of employment, income, and assets — will be used to determine if you qualify for the loan. After collecting all requirements, the processor will then submit all the documents to the underwriter for review.

  5. Underwriting: The underwriter assesses whether the risk of lending to you is acceptable. They will review all of the documentation collected by the processor and determine whether or not to approve your loan. If it’s approved, they will also determine what interest rate you qualify for as well as the terms of your loan.
    There are three Cs’ that an underwriter will analyze:

    1. Credit: Your score, history of on-time payments, and how much debt you carry (your debt to income ratio)

    2. Capacity: Your ability to pay off your mortgage based on your monthly income and bills

    3. Collateral/Value: If the property is worth as much or more than the amount you’re borrowing
      On a typical loan, these three Cs’ are analyzed in detail during the underwriting process. The good news for hard money loans is that underwriters focus more on the collateral value rather than your capacity or credit, making it easier to get approved.

  6. Approval: Once approved, you will be provided with a commitment letter that tells you all the terms and conditions of your loan. It is important to review and go through this letter with your lender to make sure you understand everything. You will typically need to purchase insurance that covers damage, fire, and theft before the loan closes.

  7. Closing: The final stage is where you will sign all the loan documents and pay any closing costs. The process is similar to when you are applying for a loan. After your lender signs all the documents, an escrow agent will hold onto the loan until everything is paid off.

When Should You Use a Commercial Hard Money Loan?

When you plan to get a commercial hard money loan, make sure to consider all the different types of loans available to you. Commercial hard money loans are not meant for every investor.

Here are some of the best scenarios for getting a commercial hard money loan:

  • You need a quick approval loan and can’t wait very long.

  • You have been turned down by a bank for a loan due to your personal credit score or the condition of the property you are looking to purchase.

  • You want to minimize your taxable revenue.

  • You opt for a loan that is not strict in requirements so that you may have a higher chance of approval.

  • You are a foreign national that wants to invest but does not have enough credit depth.

  • You want to settle your balances for your property to avoid foreclosure.

  • Your property needs a lot of repairs, has unpaid utilities, or you plan for renovation

 

If you are unsure if your personal circumstances qualify for a hard money loan, please feel free to reach out to us. We will be able to help you determine if you are eligible for such a loan, so you can take advantage of its many benefits.