Short Term Loans or Bridge Loans are usually 90 days to a one year term with options for extension. The short term loan amount ranges from $1,000,000.00 to $50,000,000.00 within the Continental USA on most property types.
Short term loans offer the advantage of a relatively fast closing time -as fast as is necessary or possible. The closing time frame can actually be closed within a few days given there are no unusual issues and most of the paper work, legal work and title work is in order and any required and ordered third party reports for any given transaction do not experience delays. Existing third party reports may be acceptable and in some cases appraisals may not even be required.
The property types considered are apartments, retail, office, industrial, residential condominiums, gas stations, raw land, multifamily, mixed use, self storage, commercial condominiums, warehouses, motel, hotel, single tenant, assisted living facilities, automotive facilities and nursing homes. Loan proceeds can be used for acquisition or purchases, construction (improvement and renovation construction, gut rehab construction, ground up construction and infrastructure construction) or for refinancing with or without cash out.
There are no strict rules as to the structuring of any given deal and each lender is different in their outlook and risk assessment. With a large network of lenders at our disposal, Ocean Pacific Capital can find you a program that best fits your unique situation.
We fund all commercial and construction loans from $500,000.00 to $1,300,000,000.00 worldwide.
Debt coverage ratios from 1.10 up
Adjustable and Fixed Programs
Loan to cost up to 100%
Loan to value up to 90%
10 to 30 year Financing
If you need Commercial Monies, Equity Partners and /or Secondary / Mezzanine Financing, call our Commercial Loan Department at 1800 595-1474 or apply today for a free consultation.
your financing needs,
we will tailor a loan that's right for you.
Daily Oil & Gas and Wall Street Journal News
Talos Energy along with Block 7 partners and PetrĂłleos Mexicanos (Pemex) have 120 working days to submit a Unitization and Unit Operating Agreement to Mexico's Ministry of Energy for Zama field development.
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Fed Discloses More Corporate Bond and ETF Purchases The Federal Reserve purchased about $1.3 billion in face value of corporate bonds from June 17 to June 26, boosting its purchases under a market-stabilization buying program to about $1.5 billion at the time.
Charles Elfsten, President
Charles A. Elfsten