Closed: First Mortgage on a $250K property

By |1 min read|Published On: February 10th, 2022|


Gelt Financial just closed on a $250K First Mortgage on a retail property in Philadelphia, PA. A borrower called up Gelt and needed a refinance on a mixed-use retail property. Inside the property, there is a family-owned restaurant & bar with an apartment on top. The story was that the partner bought out his other partner and originally needed an SBA loan, but it fell through. Afterwards, the investor contacted us for a private loan on his newly owned real estate. We supported him through the process and moved forward on this bridge loan. Low credit. Limited documentation. The deal needed to close quickly and we made it happen.

When your bank says NO, we say YES!

About Gelt Financial

Gelt Financial is a non-bank commercial real estate lender. We closed more than 10,000 loans totaling over $1 billion since 1989. Gelt focuses on providing debt to non-bank borrowers on all types of commercial real estate, including but not limited to multifamily, office, retail, warehouse, industrial, self-storage, and mixed-use.

For more info on how Gelt can help you with an investment property or on any of our other various products and services, take a look at what President Jack Miller on Gelt’s YouTube channel and for more info on our completed deals, check our Deals Done.

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