We are pleased to announce that BLC has just funded a $3,087,000 bridge loan for the purchase of a Multi-Family/Student Housing building in Ohio. The borrower was seeking short-term financing in order to take possession of the property on a short deadline. They will increase occupancy and stabilize the property before working to secure conventional financing as a permanent take-out. This is another example of The BLC Companies knowledge and experience working together with the borrower to provide a smooth, efficient, and beneficial financing package.
At the BLC Companies we are a true bank-alternative direct lender, which means that we are the source, and we make all the decisions and perform all underwriting in-house. As our referral partner, that means you can approach clients and contacts with complete confidence that you are connected with a true direct lender who can deliver and close loans quickly.
We are actively seeking to fund short-term 12 to 36-month interest only bridge loans from $1,000,000 to $20,000,000 as well as amortized conventional loans from $1,000,000 to $20,000,000, and SBA CDC/504 loans from $1,000,000 to $10,000,000, all secured by investment or borrower/owner operated commercial real estate properties (property must be owner operated for 504 loans), with no upfront commitment fees, legal deposits, or other non-sense fees, borrowers only pay for required 3rd party reports.
Contact Us today if you have any questions!