Hard Money is a short-term, bridge loan secured by real estate and traditionally used until permanent financing is put in place. An excellent alternative to conventional bank loans, a bridge loan can be an ideal solution for time-sensitive transactions.

Bridge loans are commonly used to solve immediate business concerns challenging working capital, real estate transactions and improvements, and debt. GNCommercial can provide a ready solution and business advantage to pressing situations businesses face including acquisitions, public offerings, new business start-ups, crucial repair work before insurance claims are settled, impaired credit, borrower distress, foreclosures, tax liens and judgments, bankruptcies, estate taxes, litigation, vacancies, blanket mortgages, divorce, illness and death.

We secure financing for income-producing properties, transitional properties, and for the promising new development scenarios. We focus on multifamily, commercial and investment properties including entitled land and development sites in the New York Metropolitan area.

GNCommercial is able to provide funds quickly because we have access to national and international sources of private capital. Since these sources use their own private funds, they are not encumbered by prohibitive regulations, which institutional lenders must follow.

Main benefits: flexibility, speed, cost-effective and competitive relative to other financial options.

Please contact us or complete our Application Form if your loan scenario cannot be adequately handled by traditional lending sources either due to time constraints, deal complexity or the transitional nature of the property.

Qualifications

• Loan Size – $500,000 to $200,000,000
• Acceptable collateral – real estate, royalties, and other fixed or liquid assets
• Terms – 90 days to 36 months
• Rates – 9% to 24% per annum, interest only, depending upon collateral and loan structure
• Fees – 3 - 10% (U.S. only) of the loan amount as origination and underwriting fees
• In some cases, interest, fees, and points can be included in the loan
• Prepayment – NO prepayment penalties
• All loans are based on a Loan-to-Value Ratio that’s up to 70% of the quick-sale value of the collateral, with raw land and transitional buildings limited to less. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages as work progresses
• Bank workouts, foreclosures, bankruptcies, purchases and bankruptcy financing are all acceptable, as are other kinds of complex funding

Getting your loan funded

Simply call us and tell us what you need, or complete our Application Form and we contact you shortly. Generally, we’ll tell you immediately if we think we can help. If we can, we’ll gather additional details and provide you with the letter of intent from the lender within days. At that point, if you wish to proceed, we ask for an expense deposit to cover legal fees, due diligence, and title work. If you decide to decline our offer, we keep the deposit. If we are unable to close for any reason, we return the deposit minus our out-of-pocket expenses.