Premier CRE Lending lends our own capital or other funds capital as a correspondent lender or we can syndicate capital with other lenders. The benefits to our clients are more lending programs, competitive rates, lower fees and quicker closing times. Please continue reading our “About Our Programs” page to learn more.
Premier CRE Lending has many mortgage lending programs to offer our clients which means that we increase our clients chances of fulfilling their commercial lending needs.
We can use our own capital, others capital which is the most common type of commercial lending these days, most of the commercial real estate lenders in our country use capital from a large handful of financial institutions similar to “White Labeling” a product or “Wholesale to Retail” in a sense, they give us capital to lend and we close in our name or we would have the option to “Syndicate” capital which means that we and other institutions contribute to the capital we lend out on projects.
Our commercial loans can close in as little as 3- 45 days. We have developed a streamlined process whereby during the initial intake of your loan, prior to you loan being submitted to processing and during your loan application we send our borrowers a welcome package with a complete documentation list that the borrower can start gathering 99% of all the documentation that would be requested from processing and underwriting so that when you application is complete and the loan goes into processing you will have 99% of everything they need and then your loan only spends a few days to a week in processing then when the loan is shipped to underwriting you are there for a minimal time as well. Being steps ahead of the game ensures that our borrowers spend minimal time in the loan process so they can close their loan in an efficient and timely manner.
Can situations arise that will add to the time in the loan process? Yes they can. Some of the situations are the appraisal or environmental or documentation etc coming in with challenges to resolve and these challenges can add time on to your loan while it is in the process however the good news is we have underwriters that are solution minded and focus on finding solutions to challenges that can arise in loans files and this is due to the vast experience our team members have in this industry. You are assured that your loan will be in any phase of the loan process in the absolute minimal time that it can be. Our target turn around time is 30 – 34 days using team work, you and us together makes it happen.
Debt & Equity up to 90% CLTC/CLTV
Because of our various capital platforms we can provide both Debt and Equity loans. Our Debt and Equity combination loan products allow our borrowers to get more value out of their capital. We can put a 90% Combined Loan To Value (CLTV) Loan product together for you, which allows you to use the other capital that you would normally use for your own equity on other projects or additional liquidity for the project you are financing with us.
Our Equity is a Visa product called L1/EB1 which is similar to the EB5 Visa program that most people are familiar with however it does not come with the employment and other restrictions that the EB5 Visa program comes with. The cost of funds for our EB1 program is a low competitive rate depending on market conditions for 5 years. This is a great and very effective equity program that works well on most projects. We typically only provide the Equity in conjunction with the Debt however we will look at an Equity only project on a case-by-case basis.
Bridge & Hard Money Loans
Our “Bridge” and our “Hard Money” loans do not require the “Traditional” processing and underwriting of loans. These loans are simply get the appraisal, environmental, title work in, ensure that all makes sense and close your loan. Because of this much of the time spent in a normal documentation verification loan is eliminated and we can close as fast as these 3rd party reports come in and on a rush basis they can be returned very quick. The benefit to you is fast closings.