When you’re in an unfortunate situation where every bank has said no and you need some financing to help you with your goals, Citadel can help. We pride ourselves on fast turnaround and giving quality service to all of our customers.
Bridge Loans
A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. A bridge loan is interim financing for an individual or business until permanent financing or the next stage of financing is obtained. Money from the new financing is generally used to “take out” (i.e. to pay back) the bridge loan, as well as other capitalization needs.
Second Trust Deeds
Citadel Lending Group understands that sometimes we have equity but not cash flow or profitability in your business. We can get you financing for short-term needs from 1 to 3 years to help your business recover with a second trust deed. We make sure that you’re in good standing with your first lender and help your business grow.
Commercial, Industrial, Non-Owner Occupied SFR, Apartment Buildings, Special Purpose Properties, and others will be considered on a case-by-case basis.
- Loan Amounts from $100,000 – $15,000,000
- Interest rates from 9% – 14%, Based on property location, size of the loan, and borrower’s qualification strength.
- Interest Only Payments
- 6 – 24 Month Terms. Longer terms will be considered.
- Loan-to-Value Up to 65%. Higher on a case by case basis
Fix And Flip
A lot of people dream of getting into the business of fixing and flipping homes, but funding is the number one obstacle. You need capital to purchase homes and cover the cost of renovations before you can flip them for a profit. Hard money or private money lending is the principal form of financing for new house flippers. A hard money lender is a small group of private lenders who loan money to real estate investors and house flippers. They are generally costlier than bank financing but are often the only option for new house flippers or those with lower credit scores. They also might be the ideal lender if you’re buying a foreclosed home, especially if repairs are needed. A private money lender is similar but is usually just a single investor who funds smaller projects at slightly lower interest rates.
Hard money and private money loans are ideal for novice home flippers, says Merrill, because these lenders care more about the property you’re flipping and its potential value than about the borrower’s experience or financial qualifications.
Citadel Lending Group has options to help you get financing:
- 90% LTV of purchase price
- 75% LTV of Purchase Price and 100% of construction costs.