FAST Commercial Hard Money Loans – Paces Funding
We know commercial hard money loans, so you get the benefit of an entire team on your site when you work with us on your project. We work harder AND smarter so that you have every advantage from the start.
We offer variety of construction hard money loan products designed for most commercial real estate investors including multifamily, commercial construction, small business, business acquisition. Additionally we offer many types of residential hard money loans including new construction hard money loans, residential hard money loans, cash out home equity loans, fix and flip hard money loans, rehab hard money loans & hard money loans for real estate investors. Whatever your need, Paces Funding is the commercial hard money lender that can help you succeed in all of your real estate goals.
Why Choose Paces Funding as your Commercial Hard Money Lender?
Paces Funding’s commercial hard money loan programs are carefully crafted to address the financial requirements of real estate deals requiring FAST, easy, and flexible solutions. As a prominent asset-based commercial hard money lender in Georgia, Florida, North Carolina, South Carolina, Tennessee, Texas & Virginia we believe in fostering a long-term relationship with you, placing your success above all.
Discover the flexibility of our hard money commercial real estate loans designed for multiple loan needs including multifamily, small business ventures, new commercial construction, residential, new construction, home equity loans, fix-and-flip loans, rehab loans, and real estate investments. What’s more is that we are committed to being here for you from the start of your loan to the completion of your project.
Fast Turnaround
Asset Based Lender
Competitive Rates
Less Paperwork
We care about YOUR success
OUR LOAN PROCESS
APPLY
ONLINE
Get started by filling out our easy loan application.
APPLICATION
REVIEW
Once we receive your completed application, we will review the application and one of our experienced loan officers will call you to discuss any additional information we may need.
ADDITIONAL
DOCUMENTS
After the Application review, the next step is for you to submit your purchase contract and renovation list. During this step we will also provide you with a Good Faith Estimate to review and approve.
PROCESSING &
UNDERWRITING
Once the Good Faith Estimate has been approved, we will then order an appraisal and title. Our construction manager will visit the property with the borrower to go over the bid sheet and construction that will be performed on the property.
CLOSING
& FUNDING
At this time we will set up the closing with our preferred attorney and send over the closing instructions/documents along with the wire to fund the transaction. The borrower is required to provide the necessary property insurance prior to closing.
Commercial Hard Money Loan Terms
Renovate, rehab, and resell your property with a hard money loan.
LOW Credit Minimums
NO Prepayment Penalty
Loans to Company or LLC
11% – 14% Interest Rates
Loan fee of 2.75-4.5 Points
Term – 12 Months
$0 Doc Fee
Loans from $25,000 to $20,000,000
Interest only payments
Up to 70% ARV
Lenders Title Policy Required
Close in 2 weeks
Commercial Hard Money Loan FAQ’s
How quick can you fund?
We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.
How quick can you fund?
We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.
Where do you loan?
We currently lend throughout the Southeast. Other markets will be added soon. If you have a project in another market, contact us and we’ll discuss if we can lend on it.
Do you make permanent loans?
Why are your rates so much higher than banks?
Do you make personal loans?
No. We only make loans for commercial, business and investment purposes.
Will you finance commercial properties or apartments?
We will look at multifamily projects from 2 units to 200 and more. Bring us office buildings, retail, industrial, lots to be developed, and new construction.
Does my credit matter?
Will you finance commercial properties or apartments?
I’ve been turned down at banks, is it possible for me to get a loan from Paces Funding?
What do LTV and ARV mean?
These are acronyms for loan to value (LTV) – the value of the property in relation to the loan on the property and after-repaired-value (ARV) – the value of the property after all improvements or construction has been completed.