New Silver Launches a New Commercial Real Estate Loan Program
New Silver, a leading lending platform for real estate investors, is excited to announce its new initiative aimed at streamlining investment opportunities in the commercial real estate sector. This new small-balance commercial real estate loan program is designed for experienced investors seeking short-term financing, catering to various asset classes such as multifamily, mixed-use, retail, and industrial properties.
Pioneering Solutions in an Underserved Market
Addressing the Needs of Real Estate Investors
James Keegan, the director of business development at New Silver, highlights the underserved nature of the small-balance commercial real estate market. Many projects in this area require flexible capital that is not always accessible through traditional lending channels. With the launch of this program, New Silver aims to expand access to financing for commercial properties across the nation, giving investors the tools they need to unlock potential growth and revitalization opportunities.
Key Features of the Commercial Loan Program
The new loan program is crafted to meet the specific needs of seasoned investors with various features:
Loan Amounts and Terms
Investors can secure loans ranging from $2 million to $15 million, with term lengths of 12 to 24 months. The program comes with a max Loan-to-After-Repair-Value (LTARV) of up to 70% and a max Loan-to-Cost (LTC) of up to 80%.
Flexible Financing Options
Eligible transactions include the purchase of properties, purchases with rehab, and rate-and-term refinances. Additionally, the program is available to investors with a minimum of two years in the industry and a track record of at least five completed projects.
Expanding Opportunities in Commercial Real Estate
The introduction of this loan program positions New Silver as a versatile lender catering to a broader segment of the real estate market. By venturing into the commercial real estate space, New Silver captures opportunities across both residential and commercial sectors, reaffirming its commitment to being a trusted partner for real estate entrepreneurs nationwide.
About New Silver
New Silver is a fintech company committed to improving local communities by providing fast, convenient, and flexible capital solutions to real estate investors. Utilizing technology and data, New Silver ensures quick approvals and certainty of execution while maintaining exemplary customer service throughout its clients' journeys. The company, headquartered in Connecticut, is passionate about being the fastest lender in the U.S. and embraces innovation and out-of-the-box thinking in its mission to revolutionize financing.
For further inquiries or more information about New Silver and the new loan program, please reach out to:
Contact:
Carmel Woodman
Content & PR Manager
carmel@newsilver.com
Frequently Asked Questions
What types of properties can I finance with New Silver's new program?
Investors can finance various asset classes, including multifamily, mixed-use, retail, and industrial properties through the new loan program.
What is the minimum experience required to qualify?
Applicants must have at least two years of experience in real estate and five completed projects to qualify for the program.
What are the available loan amounts?
The program offers loan amounts ranging from $2 million to $15 million depending on the project specifics and investor qualifications.
How long are the loan terms?
Loan terms can range from 12 to 24 months, providing investors with the flexibility required for various projects.
How does New Silver ensure a quick approval process?
New Silver utilizes data and technology to expedite approvals while maintaining high levels of customer service, allowing investors to move quickly through their financing process.
