Bay Mountain Capital Closes a Single Loan Transaction for $4.4 Million.
Dean Lontos, Bay Mountain Capital managing partner explained, “This is a record loan size for us and provides evidence that the niche role of hard money lenders remains strong. Borrowers continue to find our terms and structure a compelling way to get their deals done. As this recent closing illustrates, we are extremely proud to be able to serve our clients, and our industry, at such a high level. Real estate entrepreneurs need to move quickly to be successful. They need to be able to acquire their target properties and execute their business plans without the extensive requirements and longer time frames of institutional financing. That’s what we are here for.”
On average, Bay Mountain provides single-family investment borrowers with loans that typically range between $50,000 and $500,000. However, this transaction demonstrates Bay Mountain Capital’s ability to fund larger commercial deals. Historically, banks, investment firms, and other sources serve these transactions.
Additionally, Phil Sanchez, a Bay Mountain Capital finance and investor relations professional states, “This, and other recent transactions, are a clear sign that Hard Money loans are as much about the process as the amount. When borrowers are looking for short term capital they like our simple, common-sense approach. Our loan amounts are based on the completed value of a property, including proposed improvements, which allows for higher leverage than a bank may offer. This is attractive to real estate investors, even at the $4.4 million level.”
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Bay Mountain Capital has been in business for more than a decade, closing over 2,250 loans. We specialize in financing all types of residential and commercial property investments throughout Texas, Tennessee, Oklahoma, and Georgia. Because we pride ourselves on our common sense and value-added approach, we incorporate these principles into our processes.
Due to our ability to lend directly, we can close a loan within one day after receiving a complete file and clear title. The process generally takes two weeks for a residential loan, but can we can accelerate this where circumstances require it.
We are primarily an asset-based lender, which means that qualification requirements are limited. In addition, our rates, fees, and terms are among the most competitive in the industry.
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