American Street Capital

About American Street Capital

American Street Capital is a Chicago, IL based hard money lender providing loans across the US. They offer loans for a variety of situations and needs, including bridge loans and private commercial loans. They make loans on numerous types of properties, including multi family residences, apartments, offices, retail units, hotels and motels, storage buildings, senior housing facilities, mixed use buildings, warehouse spaces, industrial facilities, and medical buildings.

Loan Types Offered: Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical

Areas Served: National

Lending Guidelines for American Street Capital

Below are the general loan guidelines published on the American Street Capital website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by American Street Capital.

Loan Example 1

Theodore runs a business in Baton Rouge, LA and needs to acquire a new building to run his operations. Since he is not able to get a conforming loan from a bank, he looks to American Street Capital for a commercial private money loan. The price of the new building is $170,000 and the lender agrees to fund 60% of the purchase price (the loan to value / "LTV"), or $102,000. The other $68,000 will have to be paid by the borrower when the sale is executed. In addition, the lender requires a 3 point origination fee to go along with the 11%, 6 month term on the deal. They will not charge a pre-payment penalty in the event that Theodore pays off the loan before expiration. Theodore will have to pay the origination fee of $3,060 and will then begin making the monthly payments of $935 ($102,000 principle x 11% interest rate / 12 months per year). He may pay back the note whenever he decides to since there isn't a pre-payment penalty but he is responsible for the original principle when he eliminates the loan.

Loan Example 2

Jacquelyn takes out a hard money bridge loan from American Street Capital so she can renovate a house to resell in Henderson, NV. The loan has the following parameters:

$340,000 sales price
50% loan to value (LTV)
18 month term
10% rate of interest
2% origination fee

Based on a $510,000 sales price after the 18 month term, the numbers for this deal would look like the following:

$510,000 sales price
- $170,000 note principle (50% LTV)
- $170,000 cash paid at closing (50% on 50% LTV)
- $3,400 origination points (2% of the $170,000 principle amount)
- $25,500 interest payments (18 months x 10% interest)
-----------------------
= $141,100 total profit (does not include taxes or renovation costs)

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