Gelt Financial has announced a new lending program within the multifamily space and is now offering bridge loans up to $5,000,000 on properties with up to 200 units. The company stated that they will be offering these loans and on stabilized, distressed, and value-add situations. The company also stated that they specialize in quick close situations, are able to offer loans to credit impaired borrowers, and understand storied situations.
“There is a neglected space in the market for borrowers looking for under $5MM loans and we want to fill that gap” said Noah Miller, Vice President of Gelt Financial.
Gelt Financial, founded in Philadelphia, PA has been a direct lender since 1989. The company has closed over 10,000 loans and is now headquartered in Delray Beach, Florida.