Commercial Products
New Construction
New construction loans are usually for 12 to 18 months, but can be extended if construction isn't finished on time.
Interest rateThe interest rate is usually locked for the term of the loan.
Loan payments
Payments are usually only for interest on the amount that has been taken out.
Loan disbursement
The loan is paid out in phases to the contractor as each phase is completed.
Conversion
Once construction is complete, the loan can be converted into a permanent mortgage.
Fix and Flip
A fix and flip loan is a short-term financing solution investors can use to buy and renovate a residential property with the intent to sell it for a profit. The loans are a type of small-business loan investors use to pay for buying a property and renovating it.
Hard Money
A hard money loan can provide you with cold, hard cash quickly — typically in just a few days. These loans are secured by a physical asset (like real estate) that the lender can repossess if you default on your payments.
Private Lending
A "private lending loan" refers to a loan provided by a non-traditional lender, like an individual investor or a private company, rather than a traditional bank, typically offering flexible terms but often with higher interest rates and a focus on the value of the underlying asset as collateral, making them suitable for borrowers who might not qualify for standard bank loans; essentially, it's a loan sourced from a private individual or entity outside of the conventional banking system.
Small Commercial
A "small commercial loan" refers to a relatively modest amount of money borrowed by a business from a fi nancial institution, typically used to fund smaller operational needs or investments, like inventory purchases, equipment upgrades, or marketing campaigns, as opposed to large capital expenditures that might require a larger commercial loan.
Large Commercial
A "large commercial loan" refers to a substantial amount of money borrowed by a business from a fi nancial institution, typically used to fund major capital expenditures or signifi cant operational needs, often requiring substantial collateral like property or equipment, and usually involving complex fi nancing structures with multiple lenders due to the large loan size.
Pace Morby Transactions
Gap Funding
Gap funding is a private loan that bridges the financial gap between a hard money loan and the total project cost, covering expenses like rehabbing, renovating, marketing, carrying costs, and selling the finished home. Despite having higher interest rates due to increased risk, gap loans provide essential support.
Double closing
Involves two separate, simultaneous closings on the same property. You purchase the property from the seller and then immediately resell it to an end buyer. Allows you to potentially earn a higher profi t by capturing the spread between your purchase and resale price and keeping your fee hidden.
Bridge Financing
Bridge financing, also known as a bridge loan, is a short-term fi nancial solution that provides quick access to cash to help companies meet immediate needs:
Business working capital loans (3 months open, 5k monthly gross)Business equipment loans (3 months open, 5k monthly gross)
Accounts receivable loans
Accounts receivable loans, also known as factoring loans, are a financial arrangement that allows businesses to access cash by using their unpaid customer invoices as collateral. This can help businesses improve cash flow and meet short-term financial needs.
0% business credit cards
A 0% APR business credit card is a financial tool that offers an introductory period during which no interest is charged on purchases or balance transfers . This period typically ranges from 6 to 18 months, providing a valuable opportunity for businesses to manage their finances more effectively.
Short term installment for credit repair
30yr DSCR
DSCR loans are based on the property's cash flow, not the borrower's personal income. The loan is approved if the property's rental income can cover the monthly debt.