PCC worked with a borrower to finance this Westerly, RI property with a hard money loan built around a 12-month term and a clear plan to refinance into permanent financing.
Loan Details
Property Type: 2-Unit Multi-Family
Loan Type: Hard Money
Loan Amount: $300,000
LTV: 65%
Closing Timeline: 21 days
The Challenge
The challenge was keeping the project on schedule through the 12-month term, then refinancing out of the hard money loan into permanent financing.
The Solution
PCC worked with the borrower to fund her hard money loan through private investors, keeping the deal on track from closing through the exit.
When Your Bank Says “No.”, PCC Says “Yes!”
Financing a Portfolio of Rental Properties?
Whether you’re acquiring new assets or refinancing an existing portfolio, Providence Commercial Capital can help you evaluate the right financing structure for your investment strategy.