About 18 months ago we received a referral from a workout attorney, he had a client who owned a multi-location small business. Their current lender a local bank had put them in default and they stopped accepting payments from them. We looked at it quickly and issued an approval. It took about 6 months for the bank to agree but they agreed to take less then was owed and we closed the loan. The borrower could not go to another bank and needed our first mortgage financing to pay the bank off at a discounted amount. We closed the loan and one year later the borrower paid us off with another banks financing. They need that period to reestablish themselves and put a little distance between the default and foreclosure process of the first bank which our financing gave them.
We love happy stories, not only did Gelt’s financing save them money it relieved enormous stress and pressure and their bank started foreclosure and they ran the risk of losing their properties and business.
We love helping people and businesses, when your bank says No, we say yes.
We are fast and flexible, deal directly with the decision makers, when your bank says No, We say Yes. 561-221-0900 or www.Geltfinancial.com
Gelt offers financing to real estate investors and commercial property owners with programs that include no income verification mortgages, Bank turn downs and credit problems welcomed, bridge mortgages, foreclosure buy out mortgages, foreign national programs, Contact us online at www.Geltfinancial.com or 561-221-0900
Purchase, Refinance, Storied Loans Bridge Financing, Debtor in possession, Joint Ventures, Equity / Mezzanine, Foreclosure/DPO, Partnership Buyouts, Subordinated Debt, Acquisition, Judgement Payoffs, Note Financing, Recapitalization, Rehab and Value Added deals.
No Income verification and Light documentation, Blanket Loans, Foreign nationals, Non-Recourse programs, commercial Second mortgages, No seasoning programs, discount note purchasing financing, joint ventures, mezzanine, preferred equity and partnership programs, No minimum credit scores, 100% Gift funds, no look back on previous bankruptcies and foreclosures.