Q. Are you a bank?
A. No, we are a direct lender. Funds come from a private investment fund.
Q. Are you a broker?
A. No, we are a lender only. If you're a broker, we can help your clients with short-term financing for their projects.
Q. What are your rates?
A. Rates will vary based upon the project and borrower. Generally, rates will be between 8-12%.
Q. What areas do you service?
A. We focus lending in the Upstate region of South Carolina. Projects we consider are located in Greenville, Spartanburg, and Anderson.
Q. How quick is your loan process?
A. After an application is submitted, you can expect for your loan to be finalized and funds received within 20 days.
Q. What kind of projects will you consider?
A. We consider both single-family and multi-family residential properties and small commercial projects.
Q. What are your borrower requirements?
A. We select projects based upon the viability of the project. Credit score and experience of the borrower will be considered, however the underwriting process will be less intensive than a traditional bank.
Q. Do you require tax returns?
A. No
Q. What is the minimum investment amount by the borrower?
A. We require the borrower to invest 35% of their own money or equity in the property for each project.
Q. What is a fix & flip loan?
A. A loan option that provides funds to rehabilitate a property in order to resell it.
Q. Will you provide funds for me to renovate my personal property?
A. No. Funds are available for properties that will be resold only.
Q. I've never flipped a property before. Will you lend to me?
A. Possibly. Each project will be assessed based on the viability of the location and property features.
Q. What is the maximum loan term?
A. We lend in 6-, 9-, and 12-month terms.
Q. What is a bridge loan?
A. A bridge loan is a short-term loan that provides funds when you are awaiting other financing options to be secured.
Q. What is the maximum loan term?
A. We lend in 3, 6, 9, and 12-month terms.
Q. Do you work with brokers?
A. Yes, we gladly partner with brokers to facilitate lending transactions for their clients.
Q. Do you compensate brokers for referrals?
A. We appreciate broker referrals! Brokers who refer viable projects will receive compensation when the loan origination is complete.
Q. Why should I refer clients to you?
A. As a local direct lending option, we are passionate about development in the Upstate community. We will evaluate your client's project viability with the insight of over 30 years of real estate and construction experience in the Greenville/Spartanburg/Anderson area.