Private Equity Loan (Secured)
Secured loan any amount $50k -$5 Million
Suitable candidates: A Business owner who own residential or commercial property and would like to get equity out in order to finance their business needs, any business purpose is accepted.
1. Fair credit of the business owner(s) BCN score of 600 and up (exceptions apply).
2. Significant equity in the home/property leveraged with minimum 15% security left post financing.
3. Demonstrated business cash flow, with financial statements for last 2 years.
4. Use of proceeds.
Quite often standard business financing options are not available, due to programs limitations, bad credit, past bankruptcies, segment of economy. If an applicant has significant equity in their homes, properties, commercial properties etc. our knowledgeable associates at www.WeCanFinancial.ca can arrange a private equity loan secured against real estate, with much less disclosure required and much quicker than any chartered bank or financial institution operating on the market.
The program works in the way where significant underwriting and due diligence that is normally taken by the banks and advised by our associates is substituted by security of real estate and basic explanation what the funds are needed, and when the funds planned to be repaid back. Our firm has direct access to private lenders with a pool of funds of about $4 Billion therefore availability of capital is not a problem at all when it comes to secured equity loans like this. We financed small private loans starting with $50k and up to $16 Million, all based on proper unencumbered or partially encumbered real estate security with disclosures about half of normal size when it comes from institutional loans.
Typical process involved short application with credit report, with a short description of the funds needed, timeline and method of proposed repayment. Once application is reviewed and accepted, we initiate appraisal on the real estate security with confirmations of mortgage balances if any, and fund the deal within short period of time after appraisal report is received. Typically private equity loans are open loans with 12, 24, and sometimes 36 month’s terms. Open loan in this case means that principal amount can be repaid at any time without or with very small penalty attached.