Private mortgage lenders in Ontario
Article provided by: Westrock Capital Corp
Westrock Capital Corp. helps businesses obtain loans and equity to finance working capital, sales growth, or acquisitions. Westrock Capital also helps businesses restructure debt or find new lenders as well as helps buyers obtain acquisition financing.
Loan Side: On the loan side, Westrock works closely with a large variety of commercial banks, asset based lenders, specialty finance companies, life insurance companies, and junior lenders such as subordinated debt providers and mezzanine lenders.
Equity Side: On the equity side, Westrock works with venture funds, private equity funds, corporate strategic investors, and other sources of institutional capital. With a broad network of capital providers covering the full spectrum of debt and equity sources, Westrock Capital is able to help many companies acquire the financing they need.
Westrock Capital Guidance: The complex and variety of ways to finance a business are so numerous today that business owners are challenged to figure out the best way to finance their businesses. Some ways are clearly better than others, but how do you know what’s best for you? Then where do you go to get it? Let Westrock Capital Corp. help.
If you have been turned down for a traditional loan in the past, due to bad credit or other reasons, Westrock may still be able to help you secure a loan, through the numerous private mortgage lenders that they work with in and around Ontario. Private money mortgages are often the solution farmers are looking for who have credit trouble or excessive debt, or even if their property is not producing sufficient cash flow. For farmers in these situations, private mortgage lenders in Ontario may be the only available source for funds.
Often Canadian farmers are not familiar with private money mortgages and are therefore not aware that this type of loan is available to them. Private money mortgages are loans secured by real estate made by a private lender/investor instead of a bank, lending institution or government agency. Private money mortgages loans are short-term (generally six months to two years) asset based loans made to the professional real estate investor for the purchase, rehabilitation or equity cash out of real property. This means that the decision to lend is based on the equity and value of the property being put up as collateral, not on the borrower’s credit. Westrock Capital works with numerous private mortgage lenders in Ontario who loan money for Canadian agricultural ventures.
Another advantage that a private money mortgage has over a conventional loan is the speed with which it can be obtained. A conventional mortgage from a traditional source may take between 60 and 90 days to fund, while private mortgage lenders in Ontario can usually complete a transaction within 7-to-10 days. As the property itself is the main criteria in determining loan approval, there is much less examination of the borrower and the borrower's other properties. The private mortgage lender can generally make a decision within 48 hours of receiving information; whereas a traditional lender may take weeks to have a loan committee commit to the loan.
If you’re a Canadian farmer seeking financing for your agricultural ventures, contact the loan specialists at Westrock Capital at 877.995.1829. Our strong relationships with private mortgage lenders in and around Ontario can work to your advantage, and help you obtain the funds you need, when you need them.