Want a loan that lets you buy land quickly and easily? Consider a Liquidity Access Line. Once approved, identify what you want to purchase and complete a draw request.
A LAL can be secured by either a company with sufficient financial strength or business purpose real estate with sufficient unencumbered value. Additionally, a lien will be placed on property being acquired with LAL funds
ZERO lender fees, 9.99% interest rate. Note that Borrower must reimburse BFI for its expenses, e.g. title costs.
Up to $500,000.
Up to 4 years.
Provide basic information on the property being acquired including a purchase contract. Will work to advance given 1 business day of notice so clients can move fast – no waiting for an appraisal.
Individual advances may not exceed 75% of the cost of the property being acquired. Advance frequency is limited to no more than 3 times per month.
Time to Build:
When you are ready to go vertical, we may subordinate the lien on the property to the Spec Revolver – so no need to refinance or payoff until the fully-built property is sold. Ask a loan representative for details.