PB Financial group is one of the leading hard money lenders in Los Angeles, working with dozens of clients to leverage their existing equity into a financial advantage. Our job is simple: Give you the tools you need to leap into new opportunities or make the investments into your business you’ve been hoping to make. Because we work with so many clients, we often encounter folks who are unfamiliar with the process of hard money lending or who are curious about how it works.
As such, we’ve worked up this brief overview of what a company like us looks for in a potential relationship:
Loan Positioning and Amounts
Different lenders have different position requirements and loan caps. PB Financial Group offers loans between $50,000 to $2 million, assuming we can gain first or second lien position on either your primary residence or investment properties or commercial properties. In a second-lien situation, we can offer loans under 60% CLTV (combined loan-to-value). In first position we are able to go up to 65% LTV.
Credit and History
Hard money lenders in Los Angeles like us are more flexible than traditional banks. Foreclosure, bad credit, bankruptcy, and other problems do not affect our decision making as much as the equity in the property. We are able to work with many clients that could not work with traditional lenders.
Because our loans are tied up in equity, the property classification is critical in determining a loan amount. For example, mixed use properties offer up to 60% LTV, while industrial properties offer only 55%. It all depends on the specifics of your building, your business, and your needs.
The best course of action in determining whether a hard money loan is right for you is contacting PB Financial Group. We can help answer your questions and walk through your situation to ascertain whether we’d be the right fit. We believe in building valuable, long-term client relationships and are always happy to assist. For more information please visit www.calhardmoney.com or contact us at 323.935.5555.
PB Financial NMLS #357614/DRE #01522495