South Dakota Commercial Hard Money Loans
There are 8 commercial private money lenders serving South Dakota. The median amount loaned in this state is $604,230. Rates on private loans issued to South Dakota borrowers average around 10.7%. 35 months is the median length for loans issued in the state. The average origination fee applied to the loans is 3.6%. Lenders in South Dakota average a 73% loan-to-value on their deals.
Loan Example 1
Craig is an entrepreneur in Rapid City, SD. He decides to purchase a new retail space for his business but he is not able to obtain a commercial mortgage from his bank due to his subpar FICO score. He looks to Rehabbers Lending Company for a commercial private money loan to close the transaction. The new property will cost $880,000. Because there is a 65% loan-to-value (LTV) stipulated by the lender, the loan principle amount will be $572,000. The remaining $308,000 will be be paid by the borrower. The lender additionally requires the following terms of the deal: 1) a 8% interest rate, 2) a 5 year length with interest only payments to be paid monthly, 3) an origination fee of 4 percent paid by the borrower at closing, and 4) no pre-payment penalty. Craig may eliminate the loan at any point in time if he pays off the $572,000 in principle, however, he will have to pay $3,813 monthly interest payments ($572,000 principle value x 8% interest / 12 months in a year) in the meantime, or until the loan expires. Because there is no pre-payment penalty, the only other cost he will have to pay is the $22,880 origination fee which he will contribute at the close.
Loan Example 2
Jeffrey owns a business in Rapid City, SD and needs to purchase a new warehouse for his operations. Since he cannot get a conventional mortgage loan from a bank, he looks to Presitge Investment Company for a commercial hard money loan. The list price of the new property is $1,220,000 and the lending company agrees to fund 85% of the cost (the loan to value / "LTV"), or $1,037,000. The other $183,000 will need to be paid by the borrower when the deal closes. The parameters of the loan include a 3 year term, a 8% rate of interest, and 3 origination points to be paid by the borrower when the deal is executed. By the parameters of the deal, Jeffrey will pay an origination fee of $31,110 when the deal closes. He will also begin to make payments of $6,913 / month throughout the duration of the note and will re-pay the principle at the end of the 3 year loan term. Should he decide to re-pay the note earlier, he can do so with no additional expense since there isn't a pre-payment penalty attached to the deal.
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
Global Capital Partners Fund
555 Fifth Avenue, Suite 1501
New York, NY 10017
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
A diverse portfolio ...
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
5300 W Atlantic Ave,, Suite 205
Delray Beach, FL 33448
Gelt Financial since 1989 is a direct private money lender. Focusing Investment and small business mortgages in 42 states. We put a heavy focus on collateral and make storied and time sensitive deals. Our borrowers and mortgage brokers will always ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...