GCFS finances the hard-to-do project and borrowers.
We specialize in land development, restaurants, golf courses, bankrupt properties, foreclosures and high-risk situations. The borrower who has an unusual situation which requires capital as quickly as possible is our specialty.
Typical Lending Criteria
Min./Max. Loan Considered: $50,000 – $100,000,000
Project Type: All property types considered, excluding construction loans. Rehab/Renovation Loans are acceptable.
Region: National
Collateral: First Mortgage on subject property and mortgage on additional collateral if necessary.
Typical Rate and Term
Interest Rates: 11% – 16%
Closing Points: 4% – 10% (depending on loan size and quality)
Commitment: Up to 1% with a minimum of $1,500 paid prior to commencement of due diligence.
Fee: Commitment fee credited against closing points.
Loan to Value Ratio: 50% – 65% (greater LTV’s will be considered on a case by case basis)
Term: 1-3 year interest only
Personal Guarantees: Normally required
Third Party Reports And Expenses: Borrower pays for third party reports including appraisals, environmental and engineering, if necessary; as well as closing costs and lenders legal.
Timing for closing: Can close in as little as 10 – 15 business days.
