Superior Business Lending

About Superior Business Lending

Superior Business Lending is hard money lender headquartered in Chicago, IL. They provide funding across the United States. They offer loans for many different scenarios, including private refinancing, commercial loans, and short term loans. Their lending parameters are flexible, including rates ranging between 4.2% and 6.75% and loan amounts ranging from $250,000 to $10,000,000 with a maximum LTV of 90%. They offer loans on all the following types of properties: multi-family units, apartments, office units, retail spaces, hotels, storage buildings, senior housing communities, mixed use spaces, warehouse spaces, industrial buildings, medical buildings, and churches.

Loan Types Offered: Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

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

Areas Served: National

Lending Guidelines for Superior Business Lending

Below are the general loan guidelines published on the Superior Business Lending 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 Superior Business Lending.

Loan Example 1

Harvey is a business owner in Nashville, TN. He decides to buy a new warehouse for his business but he isn't able to get a conforming loan from his bank due to his below average FICO score. He turns to Superior Business Lending for a commercial private money loan to fund the transaction. The lender contracts to a 50% loan-to-value (LTV) on the deal and the new building is listed for $390,000, so they will loan $195,000 and Harvey will bring the other $195,000. Additionally, the lender requires a 3 percent origination fee in addition to the 11%, 12 month term on the loan. They will not enforce a pre-payment penalty if Harvey pays off the note before expiration. According to the terms of this deal, Harvey will have to pay an origination fee of $5,850 when the deal closes. He will also begin to make payments of $1,788 per month throughout the duration of the note and will pay back the principle amount at the end of the 12 month loan term. Should he decide to pay back the note early, he can do so without an additional expense since there isn't a pre-payment penalty associated with the note.

Loan Example 2

Gordon finds a property in Spring, TX to renovate and sell. Because he does not have enough cash to buy the property outright, he takes a private money bridge loan from Superior Business Lending with the following parameters:

$210,000 purchase price
65% loan to value (LTV)
12 month term
12% interest rate
1% origination fee

If Gordon achieves his goal of a $252,000 sales price, the final numbers of the deal will be the following:

$252,000 sales price
- $136,500 principle (65% LTV)
- $73,500 down payment (35% on 65% LTV)
- $1,365 origination fee (1% of the $136,500 principle amount)
- $16,380 total interest paid (12 months x 12% interest)
-----------------------
= $24,255 total profit (doesn't include taxes or rehab costs)

No Reviews Yet

Superior Business Lending currently has no reviews. To add a review now, click the link below:

Write a Review for Superior Business Lending