Instrument Based Loan Program
I know that you are asking yourself what an unconventional loan is? Well, let me explain that this particular program is a combination of other loan programs that Southern Capital, LLC has offered from various lenders throughout the United Stated and Canada. These loan types are those that are typical in the industry like Hard Money loans with high interest rates; HUD Loans with low interest rates and 90% funding; and Equity Participation Loans that you find with Hedge Funds, and Investment Groups.
Southern Capital, LLC is introducing a new program that is Banking Instrument backed and utilizes a secondary lender to actually fund the project needs. The process is relatively quick like the Hard Money loan, has a high LTV like the HUD option, but requires client participation like the Equity Loans you have heard of.
IBLP Program explained:
This program is unique because it offers the client 100% project funding with a required client participation amount of 2%; a LOW 5% interest only loan for up to 10 Years with no (PPP) Pre-payment Penalties. Draw downs not required but are encouraged for those projects that require construction or renovation. Payments don't begin until the full draw down is received by the client for up to 2 year period.
Program Features:
- 100% Funding (2% Client participation required)
- No surrendering equity to the lender
- Interest rate 5%
- Interest Only up to 10 years
- No Pre-payment penalties
- Up to 2 year draw down
- No payments until full draw down is received
Client Requirements:
- Loan minimum of 50M (exceptions can be made but require sizable retainer)
- 2% participation in program (secures the banking instrument)
Viable Project
Required Documents:
- Proof of 2% Funds (from corporate account)
- Executive Summary (as explained on the required documents page)
- Completed Client Information Sheet (CIS)
- Passport scan
- Copy of Articles of Incorporation
- Additional supporting documents as requested.
NOTE: In most cases a retainer will be required for Southern Capital,LLC to consider you a viable candidate for this program. This retainer is to protect Southern Capital from client loan shopping and for those clients who aren't absolutely serious about obtaining this funding. This retainer will be refunded at closing.
Contact James @ 337-718-6116 if you are serious about funding your large project needs.
