CMN Funding

1510 Central Ave, Suite 380

Albany, NY 12205

17 Reviews

(518) 435-1119 Write a Review

About CMN Funding
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 make loans on all of the following property types: multi-family units, apartment buildings, office buildings, retail storefronts, hotels/motels, storage facilities, assisted living facilities, mixed use spaces, warehouse spaces, industrial facilities, medical offices, and undeveloped land.
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Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Church, Land
Areas Served: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, WY, WV, OK, VA, UT, TX, SD, WA, NM, NJ, NV, NH, NY, OH, OR, RI, PA, SC, TN, VT, WI
Lending Guidelines for CMN Funding
Below are the general loan guidelines published on the CMN 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 CMN Funding.
Loan Example 1
To facilitate his small business, Corey decides to acquire a new building. After being turned down for conventional mortgage loan from his credit union, he secures a commercial hard money loan from CMN Funding. The list price of the property is $220,000 and the lender agrees to fund 70% of the purchase price (the loan-to-value / "LTV"), or $154,000. The remaining $66,000 will have to be paid by the borrower when the transaction closes. The terms of the note include a 18 month term, a 10% interest rate, and 4 origination points paid by Corey when the transaction closes. Corey will be required to pay an origination fee of $6,160 and he will then start to make the monthly payments in the amount of $1,283 ($154,000 principle amount x 10% interest rate / 12 months per year). He may pay back the note whenever he wants to because there isn't a pre-payment penalty but he is responsible for paying off the full principle whenever he concludes the loan.

Loan Example 2
Jon is a real estate investor in Chicago, IL. He finds a run-down townhouse for a rehab project and takes a hard money loan from CMN Funding with the following features:

$170,000 sales price
85% loan to value (LTV)
6 month term
9% rate of interest
1% origination fee

If Jon accomplishes his goal of a $221,000 sales price, the final numbers of the project will be as follows:

$221,000 sales price
- $144,500 note principle (85% LTV)
- $25,500 cash paid at closing (15% on 85% LTV)
- $1,445 origination fee (1% of the $144,500 principle)
- $6,503 total interest paid (6 months x 9% interest)
-----------------------
= $43,053 gross profit (does not include taxes or renovation costs)
by M. B. 07/19/2021

Stephen Frank is a LIAR!!!! Everything write, texts, or tells you is a lie.These reviews below are bought! Be warned! Do not Do business with this loser!

Stephen Frank is a LIAR!!!! Everything write, texts, or tells you is a lie.These reviews below are bought! Be warned! Do not Do business with this loser!

by Ramses Cordoba 06/26/2021

I was hired by CMN to perform two appraisals for development projects in Panama. This company requires its clients to transfer them the full appraisal fee upfront to supposedly cancel the appraiser once the report is received. The draft reports were submitted back in December 2020. Since then the transaction remained on hold, with no concrete answer from CMN. After several months, the client's broker had to contact directly the real lender (CMN was just an intermediary). The remaining 60% of our appraisal fees have not been paid.

I was hired by CMN to perform two appraisals for development projects in Panama. This company requires its clients to transfer them the full appraisal fee upfront to supposedly cancel the appraiser once the report is received. The draft reports were submitted back in December 2020. Since then the transaction remained on hold, with no concrete answer from CMN. After several months, the client's broker had to contact directly the real lender (CMN was just an intermediary). The remaining 60% of our appraisal fees have not been paid.

by AWashington 02/05/2021

CMN Funding and Stephen Frank went above and beyond to help me launch my fitness business. I am extremely grateful and pleased with their services. My dream of owning my own business is now a reality.

CMN Funding and Stephen Frank went above and beyond to help me launch my fitness business. I am extremely grateful and pleased with their services. My dream of owning my own business is now a reality.

by Guy B 08/07/2020

I would give zero stars if I could. These unfortunate people claim to lend money on commercial real estate (multi-family) properties, but instead require documentation as if one were applying for a commercial loan. More over, two of their representatives treated me an an abusive manner (and I not even talking about having to leave four voice mail messages before they would return a phone call): Their Director Large Balance Originations - in our very first conversation - first asked me how I was doing, then stated she didn't really care and laughed at the fact that I was not feeling well. The assistant to the company CEO argued with me, attempted to interrupt me and talk over me, accused me of yelling at you when I was not, and then hung up on me. In this business based in large part on personal relationships, these unfortunate people utterly fail in that department. They represent the absolute worst of Hard Money Lenders. Please take my advice and DO NOT have anything to do with people of such ill repute!

I would give zero stars if I could. These unfortunate people claim to lend money on commercial real estate (multi-family) properties, but instead require documentation as if one were applying for a commercial loan. More over, two of their representatives treated me an an abusive manner (and I not even talking about having to leave four voice mail messages before they would return a phone call): Their Director Large Balance Originations - in our very first conversation - first asked me how I was doing, then stated she didn't really care and laughed at the fact that I was not feeling well. The assistant to the company CEO argued with me, attempted to interrupt me and talk over me, accused me of yelling at you when I was not, and then hung up on me. In this business based in large part on personal relationships, these unfortunate people utterly fail in that department. They represent the absolute worst of Hard Money Lenders. Please take my advice and DO NOT have anything to do with people of such ill repute!

by BT 05/07/2020

CMN has been very useful to me over the last several years. Closed a few business & re mortgages with them and then referred over a few of my friends as well. They got our deals to the table as long as they made sense. Thumps up.

CMN has been very useful to me over the last several years. Closed a few business & re mortgages with them and then referred over a few of my friends as well. They got our deals to the table as long as they made sense. Thumps up.

by Broker 02/11/2020

I am a broker and sent a client to CMN. The deal was less than $150k and it took 6 months to close. Throughout the process there were several times my client feared the loan wouldn't close because they kept asking for info they had already recieved or discussed even up until days before closing. At the closing table my client found out the loan amount/terms had changed but he was in too deep and needed the funds to walk away at that point. Their process is efficient and extremely frustrating and expensive for the borrower. If you have other options, I would stay away from CMN! Also they're a broker and do not do any direct lending themselves.

I am a broker and sent a client to CMN. The deal was less than $150k and it took 6 months to close. Throughout the process there were several times my client feared the loan wouldn't close because they kept asking for info they had already recieved or discussed even up until days before closing. At the closing table my client found out the loan amount/terms had changed but he was in too deep and needed the funds to walk away at that point. Their process is efficient and extremely frustrating and expensive for the borrower. If you have other options, I would stay away from CMN! Also they're a broker and do not do any direct lending themselves.

by Drze2302 01/08/2020

Family had a very good experience dealing with the CMN team on our 4 units mortgage. They will do our next investment finance. New York or Massachusetts will be the location.

Family had a very good experience dealing with the CMN team on our 4 units mortgage. They will do our next investment finance. New York or Massachusetts will be the location.

by Pedro FV Miami FL. 07/24/2019

I have taken some of my clients to CMN over the past few years. CMN has closed at least 5 transactions for me over this period. I would definitely recommend them for commercial funding and I will continue to do business with them.

I have taken some of my clients to CMN over the past few years. CMN has closed at least 5 transactions for me over this period. I would definitely recommend them for commercial funding and I will continue to do business with them.

by NEDR04 04/26/2019

Been doing business with CMN a long time in the Caribbean especially in the DR. Their process is very fair and I have closed a few loans with them. I like them very much and would use them again on a future deal. Nic Egeler

Been doing business with CMN a long time in the Caribbean especially in the DR. Their process is very fair and I have closed a few loans with them. I like them very much and would use them again on a future deal. Nic Egeler

by NEDR04 04/26/2019

Been doing business with CMN a long time in the Caribbean especially in the DR. Their process is very fair and I have closed a few loans with them. I like them very much and would use them again on a future deal. Nic Egeler

Been doing business with CMN a long time in the Caribbean especially in the DR. Their process is very fair and I have closed a few loans with them. I like them very much and would use them again on a future deal. Nic Egeler

by GY2012 11/14/2018

I used CMN for my financing recently to acquire a property in upstate NY. They were very helpful and efficient. I would not hesitate to use them again.

I used CMN for my financing recently to acquire a property in upstate NY. They were very helpful and efficient. I would not hesitate to use them again.

by Dan Fravino 09/18/2018

I've used CMN to obtain financing for three investment purchases over the past few years. I'm more than pleased and highly recommend.

I've used CMN to obtain financing for three investment purchases over the past few years. I'm more than pleased and highly recommend.

by Broker 09/13/2018

I have realized that this company really knows nothing about Lending and continue to create problems when you give them a loan. They have Lenders that charge too much in fees, and Underwriting continues to ask for the same things you have sent them 3-4 times. I will only use them if it is absolutely necessary and nowhere else to go

I have realized that this company really knows nothing about Lending and continue to create problems when you give them a loan. They have Lenders that charge too much in fees, and Underwriting continues to ask for the same things you have sent them 3-4 times. I will only use them if it is absolutely necessary and nowhere else to go

by JR 06/04/2018

I dealt with CMN on a small multi family property refinance a couple years back. I got a very good deal and would not hesitate to use them again in the future. I was very happy with my rate & term at closing. Justin R.

I dealt with CMN on a small multi family property refinance a couple years back. I got a very good deal and would not hesitate to use them again in the future. I was very happy with my rate & term at closing. Justin R.

by Andy L 05/26/2018

I have closed 11 transactions and paid with CMN and have found them professional and on time expectations. I have another three in the pipe looking To close totally recommend. Andy L

I have closed 11 transactions and paid with CMN and have found them professional and on time expectations. I have another three in the pipe looking To close totally recommend. Andy L

by Plusapts007 05/15/2018

I am long time investor that has closed a few deals with CMN. I used them to acquire a multi-family in 2006 and then I refinanced it a few years later. I also bought a 2nd property within the last couple of years that CMN worked with me on. If I need them I call and they are there to help me. GL

I am long time investor that has closed a few deals with CMN. I used them to acquire a multi-family in 2006 and then I refinanced it a few years later. I also bought a 2nd property within the last couple of years that CMN worked with me on. If I need them I call and they are there to help me. GL

by UATOU 04/21/2018

I TOOK SEVERAL DEALS TO THEM AND THEY SCAMMED ALL MY CLIENTS. STAY AWAY FROM THESE PEOPLE...THEY ASK FOR A FEE TAKE THE FEE AND DO NOTHING..SCAM.

I TOOK SEVERAL DEALS TO THEM AND THEY SCAMMED ALL MY CLIENTS. STAY AWAY FROM THESE PEOPLE...THEY ASK FOR A FEE TAKE THE FEE AND DO NOTHING..SCAM.

About CMN Funding

Lending Guidelines for CMN Funding

Commercial Hard Money Loans

Loan Examples

Loan Example 1

Loan Example 2