La Mesa, CA – TaliMar Financial, a La Mesa Hard Money Lender, is excited to announce the most recent funding of a $3,050,000.00 Hard Money Bridge Loan, secured on a commercial property in La Mesa, CA. The loan was originated by Brock VandenBerg.
The Broker contacted TaliMar Financial because they were seeking a short term bridge loan to pay off an existing bank loan that had matured. The Borrower had strong credit, cash flow, and payment history, but the bank wasn’t interested in extending the loan. The bank gave the lender only short window to refinance the loan.
The issue of banks not extending loans secured on commercial, office, and industrial properties isn’t uncommon today. Many banks are pushing to decrease their exposure to loans secured on these property types and to increase their loan loss reserves.
This loan was a great example of why mortgage brokers should consider the private lending market to fund their client’s loans. Private lenders can provide much needed capital for real estate purchases or refinances on residential or commercial real estate. Also, as a direct lender through TaliMar Income Fund I, we are not reliant on third-party capital sources to fund our loans.
Special thanks to Angela A Perez and Mark Franklin at Chicago Title Company – Northside for assisting us with the close. Also, special thanks to Vito La Bella for referring the loan.
About TaliMar Financial
TaliMar Financial is a San Diego hard money lender that specializes in funding residential and commercial Fix and Flip, Construction, and Bridge Loans. As a direct private money lender, we offer aggressive financing options and typically close our transactions in less than 7 business days. We work directly with real estate investors and property owners as well as real estate agents, mortgage brokers, and other real estate professionals.
Contact TaliMar today at (858) 242-4900 with your loan request or visit talimarfinancial.com to learn more about our hard money lending programs.
Up to 80% of Value
Purchase / Refinance
As Low as 3.875%
Interest Payments Available
Cash Out OK
Business Purpose Only
Up to 70% of Completion Value
12 – 24 months
Interest Only Payments
Single Family and Multi-Family
Business Purpose Only
The Preferred Borrower Account Program was designed for the real estate investor. The PBA Program offers real estate investors a secure source of capital for their real estate deals. By getting approved, investors will have access to a TaliMar Financial Letter of Credit, property specific Proof of Funds Letters, 5 Day Expedited closings, and our Wholesale Deal Marketplace.
The process of getting approved is simple. Apply today!