Howdy Shoaib,
Appreciate you accepting this as an answer to your question.
Even though they do not appear to specifically state so, it appears Global
Commercial Services does non-asset based real estate loans. This does not
rule out that they might also do asset based loans as well. The following
is from their loan application page.
http://www.globalfinancenetwork.com/loan_application.htm
"GCS Select
Loan Amount: $1million-$1 billion USA and International
Loan Type: Purchase, Refinance, Construction, Bridge, Mezzanine, Acquisition
and Development, 2nd
Loan Programs: Over 100 loan programs to suit your needs
LTV: Up to 90% LTV upon approval, Up to 100% LTC for construction
Interest Rate: 5.00%-19%
Amortization: Almost any schedule available
Property Types: All income producing property types considered
Closing Time: 48 hours to 45 days
Underwriting: May be bank or privately underwritten"
Please note they only talk about "LTV" (Loan To Value) and do not mention
any asset requirements, etc.
On their Corporate Profile page, they have the following as well.
http://www.globalfinancenetwork.com/corporate_profile.htm
"Global Commercial Services specializes in commercial real estate lending
and sales. Our expertise includes interim, construction, and permanent
financing for income producing endeavors. In addition, we are providers
of reliable innovative service which enables us to fulfill complicated
financial needs."
I know that you are already aware of the following, but in my research on
this question I ran across the Joint Capital Assistance web site. They
seem to be a perfect match for your project.
http://www.jointcapitalassistance.com/index.htm
Fax: (801) 740-5057
Not all non-asset based lenders loan 100% of the loan to value (LTV), but
rather some lend "up to" 100% of LTV, or sometimes they lend under 100%
(90% in the case of Global Commercial Services) LTV in some cases.
For instance, there is World Source Finance.
http://www.capitalinfo.biz/
"We first opened our doors for business in the 1990's offering Domestic and
International loan arrangements to 'non-status' applicants with adverse credit
histories or those unable to meet the requirements of banks and traditional
lending."
From their "Capital" page.
http://www.capitalinfo.biz/capital.html
"World Source Finance works with many non-asset based lenders that are located
throughout the World and are always looking for profitable ways to invest."
From their "Terms" page.
http://www.capitalinfo.biz/terms.html
"Typically, loan amounts range form 80% to up to 100% of the business value
..."
So, World Source Finance appears to be a non-asset based lender, just as it
appears that Global Commercial Services does non-asset based loans, and they
both have indicated that they will not necessarily loan 100% LTV, but rather
some percentage beneath that number. Note the "typically" qualifier, which
means that the loan amount might or could actually be less than 80%.
In fact, most such lenders state "up to 100%" in their language, just as World
Source Finance does on their web site. "Up to 100%" does not mean the same as
"will loan 100%" in these cases, and usually means something less than 100%.
Looking Forward, denco-ga - Google Answers Researcher |
