80% purchase, refinance or unrestricted cash-out financing is available on investment residential, multi-family, mixed-use and a variety of commercial property types.
LOS ANGELES (PRWEB) February 16, 2018
South End Capital Corporation (SECC) announced today that it has increased its maximum loan-to-value (LTV) to 80% for stated-income commercial real estate loans. The new LTV program is offered under SECC’s small-balance commercial real estate loan program from $250,000 to $5,000,000. It is designed for property investors or business owners who can’t document personal or business income but who have personal credit scores over 700 (borrowers with less than 700 credit can still receive stated income financing up to 75% LTV).
SECC Managing Director Noah Grayson stated, “We’ve seen firsthand how the benefits of high-leverage programs such as SBA financing can benefit responsible borrowers. Yet, not all business owners or property investors can document their income. Providing high-leverage loans to those with strong credit and compensating factors makes sense for both borrower and lender.”
More good news: 80% purchase, refinance or unrestricted cash-out financing is available on investment residential, multi-family, mixed-use and a variety of commercial property types. Additional special-purpose property types are now included, such as automotive, daycare and even restaurants or bars. Rates are from 6% to 9% fixed for 5 to 10 years, amortized over 30 years, with closings in less than 30 days.
“With all of these benefits,” Grayson summed up, “this is a great SBA alternative for business owners who are seeking an easier but still competitive loan option.” For more information about the new program or to apply, please visit http://www.southendcapital.com.
ABOUT SOUTH END CAPITAL CORPORATION
Founded in 2009, South End Capital Corporation (SECC) is a nationwide, non-conforming lender (CA Finance Lenders License # 603 L334) providing commercial and investment-residential real estate loans, bridge loans, subprime SBA loans, business loans, and merchant cash advance (MCA) consolidation loans.
SECC has been named “Best” and one of the “Top Ten Best” hard-money / bridge lenders in the US, by Fit Small Business and TopTenReviews, respectively. SECC offers easy online applications, excellent service, prompt responses, generous compensation to approved partners, and custom-tailored loans.