Black Hawk Funding

About Black Hawk Funding

Black Hawk Funding is a private money lender headquartered in Coeur d' Alene, ID offering funding throughout the country. Their lending focus is primarily on commercial hard money loans. They provide loans with a maximum LTV of 70%, terms between 1 year and 18 months, and rates ranging between 12% and 13%. They make loans on various property types, including multi-family, apartments, office buildings, retail spaces, hotels/motels, storage facilities, senior housing facilities, mixed use spaces, warehouses, industrial buildings, and medical offices.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: National

Lending Guidelines for Black Hawk Funding

Below are the general loan guidelines published on the Black Hawk Funding 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 Black Hawk Funding.

Loan Example 1

Black Hawk Funding issues a hard money loan to Manuel for the acquisition of a new retail space after he is turned down for a standard loan by his local bank due to a low credit rating. Because the borrower and lender agree on a 85% loan-to-value (LTV), Manuel will pay $46,500 toward the closing and the principle will be $263,500 since the list price of the new property is $310,000. In addition, the lender will charge a 2 point origination fee in combination with the 12%, 6 month term on the deal. They agree to not charge a pre-payment penalty in case Manuel pays off the note before expiration. Manuel may eliminate the loan at any time if he pays back the $263,500 of principle, but he will need to make $2,635 monthly interest payments ($263,500 principle x 12% interest / 12 months per year) in the meantime, or until the note expires. Since there is no pre-payment penalty, the only additional cost he will have to pay is the $5,270 origination charge which he will contribute when the deal closes.

Loan Example 2

Kimberly finds a house in Houston, TX to rehab and sell. Since she does not have enough cash to buy the property outright, she takes a hard money loan from Black Hawk Funding with the following parameters:

$230,000 sales price
70% loan-to-value (LTV)
6 month term
13% interest rate
1% origination fee

Kimberly intends to list the project when the note expires for $322,000. If she succeeds, the deal numbers would be the following:

$322,000 sales price
- $161,000 note principle (70% LTV)
- $69,000 cash paid at closing (30% on 70% LTV)
- $1,610 origination fee (1% of the $161,000 principle)
- $10,465 total interest paid (6 months x 13% interest)
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= $79,925 total profit (does not include taxes or renovation costs)

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