TYPES OF LOANS
Acquisition and Development Loans
Bank Owned -Short Sales
Bridge Loans- Gap Financing
Examples of Loans by Scarsdale Lending Club’s Borrowers.
Builders seek our loans that enable them to act quickly in markets where new construction and renovations are competitive. Lending Club’s financial commitments for builders, developers and investors allows our clients to move with greater ease in competitive markets where those with experienced renovation and development skills.
REAL ESTATE ACQUISITIONS
Borrowers who have made purchase offers on well located real estate opportunities interested in purchasing investment, commercial and industrial property may find bank regulations cumbersome or find credit ratings, legal obstacles (ex: permitting, building violations or liens), timing or other conditions related to the property may be hurdles that prevent typical bank financing. Additionally, borrowers in competitive markets may require the speed of a private lender that allows them to leapfrog competitors.
One area of great interest for borrowers involves improving commercial and residential properties. Private funding is an alternative for homeowners, builders and developers because of flexible loan parameters and timely lending commitments. The funding permits developers and users to improve the property and obtain tenants before permanent financing can be obtained.
BANK OWNED AND BANK SHORT SALES
We provide short term financing for short sale acquisitions. Lending Club pre-qualifies the purchaser and provides a commitment letter to demonstrate proof of funds and purchase bank owned real estate.
BRIDGE – GAP FINANCING
If you are transitioning from one property to another and require funding because the sale of one property is delayed before the Closing of the property you seek to acquire.