BLC has just funded a $16,065,000 bridge loan for the purchase of a newly constructed Assisted Living Facility in Florida. The borrower was seeking short-term financing in order to take possession of the property before working to secure HUD financing as a permanent take-out. During the process of closing, the property received a direct hit from Hurricane Ian; however, the property was built to all the current hurricane requirements and the property withstood the storm extremely well. 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!