Are you tired of banks not wanting to lend on great investment properties or construction projects? Are you tired of hard money lenders not having capital to lend or hitting you with excessive hidden fees?
Lima One Capital: A New Type of Lender
Lima One Capital is a new type of lender— a hybrid lender that combines the best attributes of traditional banks and hard money lenders. We are a direct lender for residential real estate investors and homebuilders. We are transforming the industry standard for lending with our highly competitive and straightforward rates, the length of our loans, and our unmatched customer service. No junk fees. No hidden fees. No gimmicks. We are fully capitalized and our team prides itself on closing loans quickly for our clients.
How We Are Different Hard Money Lenders
We are often asked, “How is Lima One Capital different from other hard money lenders in Georgia and South Carolina?” We separate ourselves in a variety of ways, but here are some of the basics:
1. We are here to serve our clients. The Lima One Capital team has a passion for our borrowers and their entrepreneurial spirit. We love this industry because we recognize the social and economic impact that our borrowers have on communities and the economy as a whole. Lima One Capital is proud to play a role in this process.
2. We are a direct lender. Many self-proclaimed hard money lenders in Georgia say they are a direct lender, but ultimately funnel deals to other lenders or other investors. They get paid on top of the other lender’s fees, which drives up costs for the borrower. Many times, the hard money lender tries to drag out the underwriting process in an attempt to stall so that he can try to place the loan with a money source. Often times, the lender cannot find capital and the borrower ends up losing the deal, along with his escrow.
3. We are fully capitalized and can do an unlimited number of loans. Many hard money lenders have some capital that they lend directly to borrowers. Few have capital to always do deals. They are always trying to raise capital here and there in order to do the next deal. In the end, much like with brokers, they are unable to raise capital and the borrower loses the property and their escrow.
4. Our terms are transparent. If you go to our website, you can see clearly, the terms of our loans and our fees. Many other lenders will have terms and fees listed with a phrase stating: “Starting at…” Often times this is a ploy to get borrowers to call the lender. Then the lender will negotiate terms with the borrower in order to have the fees and rates as high as possible. Lima One Capital does not believe in this kind of nonsense. Our fees and terms are listed so our potential clients can determine if our loans are right for them.
5. Longer terms. If you are a real estate investor or builder, do you really want the stress of having to pay off the loan in 6 months? Often times, borrowers need additional time to sell the property or refinance it because of the inefficiency of banks. We believe that 13 months are the perfect length of a loan so are clients have additional time to sell the house, refinance it, or conduct a 1031 exchange. Other lenders will hit you with ridiculous extension fees after six months. Most lenders have a 1% of the total loan amount extension fee, and an increase in the interest rate… anything to take advantage of a borrower.
6. Great customer service. We are not a one or two or three man shop. We have a number of professionals that help our clients throughout the lending process. We underwrite within 24hrs. We close quickly. We conduct construction draws within 2 days. We are here to serve our clients! Our borrowers experience the most efficient and professional lending process in the business today.
7. NO JUNK FEES! NO HIDDEN FEES! NO SURPRISES!