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One common denominator among all our borrowers is that they have a large amount of real estate equity or cash down payment and an immediate need for short-term capital.
Perfect candidates for an HMC loan are:
- Clients without sufficient credit history.
- Business owners who want to take cash out of their property.
- Entrepreneurs and self-employed people who want to purchase a site for their business.
- Real estate investors who need financing for an income-producing or commercial property.
Likely Customers
- Borrowers who possess excellent credit and marketable collateral with acceptable net cash flows but need funds in a more timely fashion than is possible with a conventional lender (e.g. a bank, savings and loan, insurance company or pension fund).
- Borrowers who have acceptable credit histories and marketable collateral, but lack acceptable debt service capacity to meet conventional lending requirements; HRI can fund the project allowing the client to bring the income stream up to an acceptable level for conventional financing.
- Borrowers who possess non-qualifying credit histories but whose collateral is sufficient to provide safety to the lender.
- Borrowers with acceptable credit histories wishing to utilize as collateral real property assets that are unique or single purpose structures (e.g. churches, retirement centers, and specialty manufacturing facilities which carry a higher resale risk if foreclosed upon or do not produce an acceptable cash flow).
Do you see loans that do not seem to "fit the box" of traditional lenders?
- Properties that are not cash flow producing
- Properties that are in/nearing foreclosure or are currently listed for sale
- Tenant occupied majority of property and remainder of tenants are non-credit on short term leases
- Numerous tax liens on the property
- Single tenant owner occupied properties
- Borrower's mid score below 660
- Owner's business not cash flow positive
- Cash to secure another property
- Property in need of minor repair
- Differed Maintenance
- Property not operating to potential due to vacancies
- Limited financial information available on the property
HanoverMC offers a private banking experience providing value-added support to you; your associates’ and your clients finance efforts. For more information or assistance, please call us directly at 714.838.1474.
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