Borrowers who feel constrained by the challenges of the current lending market and the restrictive practices of traditional financial institutions are discovering the benefits of the hard money loans and streamlined funding process provided by Lending Bee, underwritten by the LBC Capital Income Fund. We consider each loan opportunity without systematically rejecting loans that might be considered by other private mortgage fund firms as too far outside arbitrary guidelines.
1What are some of the advantages of borrowing from a private fund like LBC Capital instead of getting an interim or bridge loan from a traditional financial institution?
At LBC Capital we don’t use formal loan committees. Instead, our principles make all the decisions and determinations can be made much more quickly than with other firms. In addition, in contrast with other types of services that offer short-term loans, we have capital available through private sources to fund our loans.
2How quickly can a loan be funded?
This depends on the specific situation, but funding typically occurs an average of 10 business days after receipt of the borrower’s loan application. We also will consider expediting the funding process on a case by case basis.
3What loan amounts will be considered?
$50,000 to $50million. Majority of the loans that we do daily fall in the range between $300,000 and $3million.
4What are LBC Capital’s loan-to-value guidelines?
Our long-term loan program can lend up to 60% of the value of a property after any repairs have been completed
5Are appraisals always needed?
In many cases, when it is easy to determine the fair market value of a property, no appraisal is needed. Appraisals are required under certain circumstances, including if the requested loan is at the maximum loan-to-value or it is difficult to determine a property’s fair market value.
6Are there any pre-payment restrictions or penalties?
Our loans do not have repayment penalties. Prior to maturity, they may be paid in full or in part at any time.