Private Money Lending
Pyramid Capital Group, Inc. is pleased to introduce its private lending division.We have assembled a pool of money from many different sources such as pension funds, hedge funds, private banking and individual investors. All of these sources make it easier to find the right loan for your particular situation.
We welcome loan scenarios from all sources such as homeowners, investors, business owners, builders and especially mortgage brokers looking to place loans for their clients. All brokers are protected and always paid upon funding of the deal.
Our private lending division allows us to cover a wide array of situations as well as unique properties that traditional banks wouldn't consider, such as:
- Hard money commercial for acquisition, construction or refinance.
- Cross-collateralization for unique situations where equity is short.
- Time of the essence deals that must close in days, not months.
- NYC Coop projects.
- Residential or condominium construction including land acquisition.
Since the loan is based on the property as collateral and not your credit score, the rate and terms of your transaction will depend on a few different factors. The quality of the borrowing entity, the asset(s) being pledged and the perceived risk on the transaction are some important factors. Also, please keep in mind that these are short term loans so an "exit strategy" is something to think about.
Loans are generally set up for a period of 6-36 months (although some products allow for longer terms) with interest rates ranging from 10%-15% and anywhere from 2-4 points. In addition, the loan to value will vary from property to property but usually not to exceed 70%.
Our loan process is simple. Complete our QuickApp and send it to us. After receiving the application, we will contact you to discuss your request. Upon further review and acceptance of an offer, we will schedule a property inspection or appraisal. Upon site approval, title is ordered. Once the title is reviewed and cleared, we can close your loan. This entire process can take as little as ten days.
Contact us today to get started. We look forward to servicing all of your financial needs.
Click here to fill out the Private Lending Application online.
Please print and fill out the application and fax to 914-219-5553.