At SMC we offer fast and flexible, non-restrictive collateral-based private money loans as an alternative to traditional bank loans and lenders. Banks and traditional lenders will require extensive paperwork that banks’ underwriting departments will need from the borrowers. We however at SMC, even if you have had a foreclosure or bankruptcy, will give our borrowers a chance to get the capital they against the collateral of their mixed-use property, multi-family property, apartment buildings, strip centers, hotels, and restaurants. Our underwriters and private investors use “Common Sense Underwriting” and give many of the borrowers who have been turned down by the banks an approval using common sense decisions on their financial income.
Shop Commercial Mortgage specializes in Florida self-employed customers who have trouble qualifying for conventional financing. Our investor network is ready to help you when the banks turn you down. Here are some of the advantages of dealing with Shop Commercial Mortgage:
If you’re a self-employed borrower, you know how difficult it can be to earn approval for financing. However, at Shop Commercial Mortgage, we specialize in self-employed borrowers with less than perfect credit. We can help you get the loan you need, no matter your means of income or your credit history.
Private money lenders are not commercial banks. They are very good at issuing loans for short-term uses by commercial customers, and residential borrowers in some cases. Some of the opportunities for private money include:
Private money lending has become more popular as conventional banks tighten their procedures for approving residential and commercial loans. A conventional loan might be turned down for any number of reasons including credit problems, self-employment, previous foreclosures, bankruptcies, or other issues. Private money investors may be more flexible for approving your loan, but there are still some things to avoid when looking for private or hard money.
Shop Commercial Mortgage is not your typical commercial mortgage lender. We offer many advantages over conventional commercial lenders, with the primary advantages being the ability to get commercial lending without credit or if you are self-employed. There are many others:
There are lots of real estate opportunities out there, but for investors, the hardest part can be finding the money to put into a real estate investment. For many of us, that money is sitting right under our noses. If you own a home and have been paying off your mortgage, you have home equity.
There is nothing like the freedom of being your own boss. Sipping your coffee in the cozy quarters of your home while in your PJ’s. Doesn’t get better than this, right? While being self-employed offers many benefits, it can make other milestones more difficult to attain.
There may be times when you need money sooner rather than later and the commercial banks let you down. This may be the perfect opportunity to consider hard money lending. You obtain your money fast, typically in two weeks or less, and the paperwork requirements are far less onerous than required by the banks.
At Shop Commercial Mortgage, our investor network is looking for opportunities to put their money to work providing you loans against the equity in a commercial property. Our investors secure their investment against that equity, allowing you to get the money you need even if you have less than ideal credit, a bankruptcy, or a previous foreclosure in your record.
"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"
