BDC Funding | Your Source For Hard To Fund Loans

Recent Transactions Funding from $500,000 to $20M, BDC Funding suits all shapes and sizes. Partial list follows:
Property	Description

Residential Land for Lot Development Held for Re-Zoning $10 Million Fairfax, Virginia	Provided first mortgage loan on acreage held for re-zoning. Property appraised for $17M. Under contract to national homebuilder for $35M.

Beachfront Resort Development $5.6 Million Myrtle Beach, South Carolina	Provided acquisition and construction financing to resort developer of oceanfront condominium project. Loan secured by land appraised at $2.5 M and assignment of pre-sale purchase contracts totaling $6M.

Residential Land Development $5.0 Million Fairfax, Virginia	Restructured debt and lowered interest rate on $5M of first mortgage debt. Lowered borrower’s annual interest expense by $250,000. LTV of property 45%.

Florida Hotel Property $5.0 Million Ft. Lauderdale, Florida	$7.5M loan matured with bank. Partnership needed $5M loan to purchase note from Bank and restructure partnership. Partner provided $2.5M in cash. Property value was $12.5M. Loan was provided within 10 days.

Land Development $3.0 Million Springfield, Virginia	Developer acquired residential and commercial property to take through entitlement. Acquisition loans in default. Interest rates in excess of 21%. Foreclosure sale date within 15 days. Lender provided new financing avoiding foreclosure allowing time for entitlements to be obtained and sale of lots to national home builder. Loan was provided within five days.

Default Mortgage Purchase $3.0 Million Tyson’s Corner, Virginia	Defaulted Loan. Bank preferred to sell loan instead of foreclose and risk possible bankruptcy by Borrower. Note purchased with rate and term re-negotiated to avoid legal actions.

New York Timeshare Hotel $2.5 Million Lake Placid, New York	Defaulted Loan. Bank preferred to sell loan instead of foreclose and risk possible bankruptcy by borrower. Note purchased with rate and term re-negotiated to avoid legal actions.

Golf Course Driving Range $2.0 Million Fairfax, Virginia	Provided $2.0M financing for owner to purchase $3.0M loan at a discount from Financial Institution that was selling the defaulted loan.

Purchase of Bank’s Classified Loans $2.0 Million Washington, DC	Purchased three bank classified loans in 4th quarter to add income to Bank’s financial statement. Loans were all 60-90 days past due. Non-recourse to bank. Closed for cash in 30 days from time of file review.

Commercial Lot Re-finance $1.5 Million Fairfax, Virginia	Refinanced commercial lot for Borrower in default. Property value $2.5M. Commitment made within two hours of appraisal review.

Chapter 11 Bankruptcy $1.5 Million Washington, DC	Provided owner financing to purchase $2.8M of real estate assets out of Bankruptcy court for business operations.

Christian Private School $1.25 Million Fairfax, Virginia	Financing provided for owner/operator of school to purchase first mortgage note in amount of $1.5M from investor who had purchased note from Bank sale for $900 thousand.

Hard Money Debt Refinance $1.25 Million Fairfax, Virginia	Owner facing foreclosure was able to borrow $1.25M in new financing secured by $2.2M office building in 10 days.

Resort Beachfront Residence $1.0 Million Sea Island, Georgia	Provided refinance of oceanfront home enabling Borrower to buy another property. Loan closed in 10 days after receipt of appraisal.

Resort Beachfront Residence $1.0 Million Sea Island, Georgia	Provided acquisition financing to developer with land and historic home that were under-contract. Purpose was to subdivide and sell lots. LTV was 50%. Loan secured by pre-sales contracts, land and historic home.

Environmentally Impaired Property $1.0 Million Maryland	Financial Institution was selling $1.4M note secured by $2.0M industrial property. Property had environmental issue. $1.0M in financing provided to purchase note.

Acquisition Loan $1.0 Million Frederick, Maryland	Provided acquisition financing to developer with land and historic home that were under-contract. Purpose was to subdivide and sell lots. LTV was 50%. Loan secured by pre-sales contracts, land and historic home.

Chapter 11 Financing $1.0 Million Washington, DC	Financing of $1M provided to Borrower in bankruptcy to restructure debt on a small commercial property valued at $2M.

Office Building Re-Finance $850,000 Alexandria, Virginia	Purchased matured loan from bank that was secured by office building with 50% vacancy. Provided financing to borrower for 24 months. Enabled borrower to increase vacancy and sell building at substantial profit.

Office Condominiums $750,000 Charleston, South Carolina	Purchased defaulted note from Bank and restructured financing with Borrower to lengthen term of the note and lower monthly payments by 40%.

Hard Money Debt Re-Finance $750,000 Fairfax, Virginia	Provided loan to payoff lender to stop foreclosure on Commercial Property. Seven day closing.

100-Unit Apartment Complex $560,000 Washington, DC	Borrower had negotiated a bargain sale from seller but was unable to arrange financing and time was running out to exercise contract. Lender provided 75% of acquisition costs and additional financing to refurbish property. Loan was funded in 10 days.

Mobile Home Subdivision Lot Financing $500,000 Greenville, South Carolina	Loan of $500,000 provided to mobile home lot developer secured by $1.2M in mobile home lot sale paper. Interest Rate on lot sale was 18%.

27 Single Family Rental Homes $450,000 Baltimore, MD	Provided first-mortgage financing for the purchase of 27 single family rental homes in Baltimore City. Homes were to be refurbished and sold for $75,000 - $80,000 each. Loan commitment made within 48 hours.

Residential Acquisition and Rehab $250,000 Washington, DC	Provided funding to purchase and rehab residential home or resale at 40% profit.

Five-unit Apartment Building $250,000 Baltimore, Maryland	Provide financing to purchase five unit historic property to convert to condominiums. Loan provided within 10 days.

Four Single Family Rental Homes $125,000 Baltimore, Maryland	Provided financing to purchase four rental homes for investment to foreign nationals. Loan closed within 10 days.