COVID-19 Business Purpose Loans (model of virus and business icons)
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Is Your Business Affected by COVID-19? A Private Business-Purpose Loan May Help

Government stimulus COVID-19 business loans are not helping everyone, yet the coronavirus pandemic is affecting small businesses in a myriad of ways. From reduced sales and remote work to the temporary closings of “non-essential” businesses, things are changing fast during the COVID-19 outbreak.

Businesses both large and small are being forced to adapt, but for most, a COVID-19 business loan remains out of reach. With little capital and sources of funding, some small businesses and independent contractors may have to get more resourceful and creative with their financing to weather this pandemic and come out the other end intact.

Hope for Relief in the Form of Small Business Administration (SBA) Loans Has Been Dashed by Some Small Businesses

According to the Washington Post on April 27th, thousands of small businesses have already lined up for the latest round of $310 billion in COVID-19 business loans, but the money could run out in days.

Worse yet, these newly available economic stimulus funds may not end up in the hands of small businesses as intended. As witnessed in the first wave of SBA funding, COVID-19 business loans and relief funds provided via the Cares Act’s Paycheck Protection Program will be cornered by industry insiders and large businesses that already have access to cash. The Washington Post reports that “At least 140 publicly held companies received funds from the first Paycheck Protection Program, including large restaurant chains, a Fortune 500 auto retailer and a pharmaceutical company with $14 million in cash.”

Where does this leave small business owners in need of a COVID-19 business loan?

Excel Trust Deed Investments Can Close Privately-Funded Business Purpose Loans Within One Week

If you are a small business owner, independent contractor or otherwise self-employed and own real estate and you are in need of a COVID-19 business loan, you may be able to qualify for a privately funded business-purpose loan secured by your property.

These privately funded business-purpose loans can be used for any business-related expenditures such as payroll, equipment, technology expenses, improvements, etc. For example, does your business need to make COVID-19 related improvements in order to reopen? Perhaps a COVID-19 business loan is needed to install plexiglass shields to protect your employees or add a drive-thru curbside pick-up window and accompanying intercom?

When looking for a COVID-19 business loan, a privately funded business purpose loan may be the way to go to get the funding you need quickly in order to get your business back on track. Often we can close these business purpose loans within one week. Keep in mind that 50% of the loan proceeds must go to the business to qualify.

Privately-Funded Business Purpose Loans May be Easier to Obtain Than COVID-19 Stimulus Funds

With a business purpose loan from Excel TDI, there is no lengthy application process that traditional banks and lending institutions require. Just give us a call or email or complete our preliminary borrower loan request online. Once we receive your inquiry, one of our loan officers will help you through the brief qualification process.

You’ll be asked to take photos of the subject property for our appraiser and the remaining application and approval process will be completed via email. The loan-to-value ratio must be under 65% to qualify.

Our privately funded business-purpose loans are available in terms of 1 to 3 years and can be interest-only to help keep loan payments low and affordable.

Whatever your unique borrower situation, Excel Trust Deed Investments can help point you in the right direction and determine if a business purpose loan is right for you. Contact us today.

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7 Situations Where a Hard Money Loan Can Help

Considering a hard money loan? Hard money loans, or private loans, get a bad wrap. But there are genuinely appropriate lending scenarios when a hard money loan is the best option. Take a look at the following hard-money lending situations and borrower profiles. These are just some of the critical times when a hard money loan can save the day and the deal:

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What is a Trust Deed Investment?

Also known as a deed of trust, a trust deed is a document that represents an agreement regarding real estate property between a borrower, a lender, and a trustee. Simply stated, a trust deed investment is an investment in a private real estate loan by an individual or group of individuals.

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How to Reconcile Families Who Inherit Property: A Uniquely Personal Lending Scenario

When faced with the difficult experience of navigating the decisions regarding an inherited family home, it can help to have an experienced lender on your side.

Providing private loans to heirs who inherit property is something Excel Trust Deed Investments has done many times and we continue to receive requests for these types of loans. Each lending scenario is unique and personal, and we are experienced in navigating the financial and emotional challenges.

Providing financial solutions at a difficult time.

Often children inherit the family home in which they were raised but disagree on what to do with the asset. One or more siblings may want to keep the home, while others can’t wait to receive that all-important inheritance they’ve patiently been waiting on for years. For some, there may be a need to cover caregiver expenses associated with the loved-one who has passed.

Regardless of the positions taken by the inheriting family members, we understand that everyone grieves differently and we’re here to help find solutions at a difficult time. We have helped many families work through these scenarios that are often fraught with emotion and complicated by disagreements.

Tailoring lending solutions to the goals of the family members.

Since in most cases these are non-owner-occupied properties, we can offer an interest-only loan for the amount required to buy out the other heirs and cover the fees. Based on the intentions of the heirs, we can tailor the terms of the loan to be long enough to establish a rental history and then secure long-term financing.

Often, we are also able to increase the loan amount by enough to cover some cash out for repairs, deferred maintenance, or other expenses to prepare the home for sale. We typically can get these loans closed in two weeks or less* with minimal discovery and pain.

We’re here to help.

If you or your client has inherited a family home, please contact us and we will assist by sorting through the personal situation and see if we can be of help.

And remember…

Excel Trust Deed Investments is the smart choice to fund your hard-to-place loans. Whether competing with cash buyers or building your dream home, we’ll leverage our 30+ years of lending experience and our extensive network of private investors to help you meet your residential real estate goals.

Sheldon Perry Excel Trust Deed InvestmentsSheldon Perry,
Founder, VP Investment Lending
Excel Trust Deed Investments

Sheldon founded Excel Trust Deed Investments (formerly Excel Financial) in 1986. Specializing in expedited and efficient loan closings, he applies creative problem-solving skills to every facet of the private lending process for his clients.

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How to Compete with Cash Buyers

Competing with Cash Buyers with a Bridge Loan

Competing with cash buyers? Consider a bridge loan for the win.

Over the past 18-24 months, we’ve closed dozens of bridge loans.

Many of our clients are pulling cash out of their existing homes to buy new homes. In order to compete with cash buyers, we will cross-collateralize our loan to fund enough so that the homebuyer is effectively paying cash for the new home.

This allows the buyer to close within 10-14 days (the same as a cash buyer) with no financing contingencies. This could be huge for many of your clients.

A recent client success story:

As an example of a recent transaction, our borrower owned a home in Saratoga. The home is worth $4.5M, they owe about $500k. The home they were buying was on the market for $3.9M, also in Saratoga. They did have some cash to put down but wanted to keep some as reserves and some for the improvements they want to make to the new home.

We funded a $3.8M loan secured by a first mortgage against the new home and a second against the existing home. They will do some improvements before moving into the new home. Likewise, once they’ve moved, they will do some clean-up and painting prior to staging and placing the existing home on the market.

The freedom of a bridge loan.

This bridge-loan home buying scenario provides borrowers with:

  • the freedom to work within their own timeline
  • the ability to compete with “all-cash” buyers
  • the option to avoid jumping through the mountains of paperwork that conventional lenders require.

If you would like to close your transaction within a few days without all of the hassles conventional lenders require, please give us a chance to show you just how seamless and easy we can make this process.

 

Sheldon Perry Excel Trust Deed InvestmentsSheldon Perry,
Founder, VP Investment Lending
Excel Trust Deed Investments

Sheldon founded Excel Trust Deed Investments (formerly Excel Financial) in 1986. Specializing in expedited and efficient loan closings, he applies creative problem-solving skills to every facet of the private lending process for his clients.

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Building a Dream Home with a Bridge Loan

 

Building a Dream Home with a Bridge Loan

Excel TDI helps a developer complete his dream home in an exclusive Lake Tahoe development.

Excel TDI just closed a $4.7M loan to help a developer complete his future home, while also facilitating a payoff on a loan that was coming due and payable against a commercial building in his portfolio.

The developer is building a home in beautiful Glen Brook, NV and fell short after all of his upgrades. The borrower was frustrated after being given the run around by a lender out of Southern California for nearly three months.

Once we touched base we had loan docs in escrow within 4 business days and we funded the loan and closed a few days later.

Our bridge loan product continues to set records for fast approval and funding:

  • The average loan amount is about $1.5M.
  • We’ve been getting approvals on most loans within 24 hours of submission.*
  • Loan documents are typically in escrow within 24 hours of approval.

Look to Excel TDI when you have a difficult lending scenario that must be closed FAST.

If you need your loan closed and your current private lender just can’t seem to cross the finish line or you don’t have time to waste, please give us a call.

Sheldon Perry Excel Trust Deed InvestmentsSheldon Perry,
Founder, VP Investment Lending
Excel Trust Deed Investments

Sheldon founded Excel Trust Deed Investments (formerly Excel Financial) in 1986. Specializing in expedited and efficient loan closings, he applies creative problem-solving skills to every facet of the private lending process for his clients.

Julee Klein No Comments

We’ve Set a New Bar with Bridge Loans

Setting a New Bar with Bridge Loans

When it comes to bridge loans, Excel Trust Deed Investments just set a new bar!

This week Excel successfully funded our largest bridge loan request to date, a $6,900,000.00 land acquisition loan for a 208 condo development.

The request was presented to Excel on May 4th and loan docs were ready to submit to escrow on May 18th, exactly two weeks after submission. This is a bit longer than our typical turn-around, but it is four to five times larger than our typical loan request.

Our bridge loan product is still setting records for fast approval and funding:

  • The average loan amount is about $1.5M.
  • We’ve been getting approvals on most loans within 24 hours of submission.*
  • Loan documents are typically in escrow within 24 hours of approval.

Please remember Excel Trust Deed Investments when you have a difficult loan request that must be closed FAST.

If you’d like to experience this level of professionalism and performance consider Excel Trust Deed Investments for the next loan you are looking to place.

 

Sheldon Perry Excel Trust Deed InvestmentsSheldon Perry,
Founder, VP Investment Lending
Excel Trust Deed Investments

Sheldon founded Excel Trust Deed Investments (formerly Excel Financial) in 1986. Specializing in expedited and efficient loan closings, he applies creative problem-solving skills to every facet of the private lending process for his clients.

Julee Klein No Comments

The Beauty and Benefits of Bridge Loans

Beauty and Benefits of Bridge oans

For the last two to three years, we’ve been getting a lot of requests from agents for bridge loans. Here’s why:

The typical scenario is that an owner wants to sell their house and downsize by purchasing a property that better meets their needs. They have equity but not a lot of savings to compete with the many “all cash buyers” out there these days.

We work with the owners, and once they identify the area and dollar range they’re looking for, we formulate a “battle plan” for them to make a competitive offer. Most go in and offer what is essentially an all-cash offer with a 2-3 week close.

Once their offer is accepted, which is more likely to happen with parameters like this, we instruct the escrow company for the home they’re buying to open an escrow on the home they already own. We then provide a loan to purchase the new home and cover all closing costs.

Depending on the scenario, we may just secure this loan with the property being sold (if the LTV is low enough) but in some cases, we may cross-collateralize the loan with the property being purchased. Once the old home is sold they pay off our loan. If the sales price of the old home isn’t enough to cover the payoff the referring broker will provide permanent financing.

Bridge loans have been a very successful and hot product with many benefits to the homeowner:

  • It allows the owner to compete with all-cash buyers.
  • It allows them to move into the new home at their own pace.
  • It allows them to make any repairs or improvements to the old home to better position it on the open market.

Most importantly, in this current economic environment, their old home continues to increase in value over the course of the time they take that, more often than not, covers the expense of our loan.

We just had a new spin on the bridge loan program.

We had a business owner in San Jose, CA who runs their business out of their home. They were at a point of growth where they wanted to buy a building for their business. They had enough equity in their present home to cover the cost of the building they are buying.

We provided the business owner/buyer with a $1,350,000.00 loan secured by both properties. They were able to compete with all-cash buyers and closed in 10 days. The referring broker will be able to secure a permanent 30-year fixed loan within the next year, and they will be able to grow their business to cover their expected growth over the next several years.

So consider a bridge loan, and if you have a borrower that needs to close FAST, please give us a call.

In many cases, Excel Trust Deed Investments is able to close loans up to $5,000,000.00 within two weeks with receipt of a complete package, verification of all material facts, and investor approval. Excel Trust Deed Investments has been in the private lending industry since 1986 and can help you through each stage of the lending process.

 

 

Sheldon Perry Excel Trust Deed InvestmentsSheldon Perry,
Founder, VP Investment Lending
Excel Trust Deed Investments

Sheldon founded Excel Trust Deed Investments (formerly Excel Financial) in 1986. Specializing in expedited and efficient loan closings, he applies creative problem-solving skills to every facet of the private lending process for his clients.

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A Unique Lending Opportunity

Private lending - handing over the keys We need borrowers.

At the end of 2017, we received several large loan payoffs. Add this to our backlog of investors with funds to invest and we’ve found ourselves in a unique position with a unique private lending opportunity- we need loans.

Why you should consider private lending with Excel TDI, Inc.

Over the past three years Excel TDI, Inc. has established itself as one of the leading private lenders in the San Francisco Bay Area. We can fund many loans that our rivals simply cannot. We approve most loans by the end of our first discussion with our brokers, pending receipt of the loan package. We do not take days of your time to make life-changing decisions, but moments whenever possible. Our lending limits are much more generous than traditional lenders as our investors are able to choose their own lending parameters (within lending regulations.)

If, as an agent, you are being strung along through a never-ending approval process or your clients are being turned down by other lenders, please take a moment and call Excel TDI or email us. Give us a chance to close your loan. Over the last several years, in many cases, we’ve had loan docs in escrow within 24 hours. We have hundreds of closed loan success stories to share. Let us add your client to our growing list.

Call +1 (408) 564 7690 or contact us at loans@exceltdi.com

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Excel TDI, Inc. Closes $2.5 M Bridge Loans in 7 Days

Excel Trust Deed Investments (formerly Excel Financial) is quickly becoming the Bay Area’s bridge loan leader. Just last week we closed a $2.5MM 1st bridge loan in Atherton. We began the process with a bare-bones file. We were ON RECORD 10 days from the day we got the call from the broker.

The borrower found a home outside of the Bay Area and was set to retire. Because of the impending retirement, their income has been reduced and therefore couldn’t qualify for a conventional loan. We provided them enough cash out to pay cash for their dream home and cover the cost of the move. The Atherton home will be cleaned up, staged and listed for sale. Once sold they’ll pay off our loan and pocket the difference.

Many brokers are running into scenarios similar to this and have no idea where to turn. They end up advising the seller to sell the home and wait to buy the new home. With an appraisal, prelim, basic financial info and a solid exit strategy we’ve been able to help dozens of Bay Area home Realtors and Brokers get their listings sold and keep their clients satisfied.

In addition to bridge loans, we’re able to close business-purpose loans self-employed borrowers) with multiple needs, equity loans for any purpose and debt consolidation loans.

Since we’re a private lender our loans are based on equity more than credit or job history.

If your client cannot qualify with an institutional lender, please give me a call. We’ve closed hundreds of tough loans over the past 32 years.