Time was of the essence. Subs were ready to take other jobs and weather delays were coming. Timing was not on our client’s side. Instead of shutting down the site until a resolution with the bank could be found, a broker called TFG to see if we could help. Within weeks, a construction loan was in place and no time was lost. The hotel was completed on time to meet the high summer demand.
Company was expanding a part of the warehouse and had no time to waste. They only had 90-120 days until the new expansion was needed and a local bank let them know it would take at least that amount of time just to get loan approval. TFG was called by a broker to step in for a bridge loan. Within days, the loan was funded and deadlines were met. Once complete, the bank was able to refinance our loan and keep a great client. We were the right lender at the right time.
Borrower was very bankable and had several banking relationships willing and able to fund this transaction. Problem: the deal had to close in two weeks due to a 1031 deadline. TFG quickly offered a commitment and closed within days of first meeting. Not only did the borrower keep his 1031 privilege, he was able to pay off the TFG loan within 30 days using local bank financing.
After a successful legal battle to determine option rights, the borrower needed certainty of funds to close on the transaction. TFG was called to make sure funds were available immediately to ensure no more delays led to another visit to the courts. Loan funded… problem solved.
Keeping it simple was the reason for the call. This builder had worked with traditional banks in the past and was looking for a quick and simple solution to construct a multi-family project in the city. He preferred to use conventional financing for the permanent loan and private money for the construction loan. TFG was able to keep it simple by responding quickly to each draw request and working with the subs for a seamless construction project.
Borrower’s loan matured and the note holder made it clear they would not offer an extension nor would they delay filing a default due to loan maturity. He needed certainty of funds and we were called to solve the problem. TFG closed on time before any NOD was filed and borrower was able to obtain conventional financing within the year to take us out.
Property was owned free and clear and client wanted to pull cash out for another transaction. He had bought it several years earlier yet never was able to find a bank which would allow cash out. TFG was able to quickly offer terms allowing the borrower to capitalize on purchase opportunities out of state. With existing debt now on the commercial building, several banks were able to propose terms for a refinance.
Property was held in an estate and resolving issues proved to be more complex than originally thought. TFG was called to provide cash out of a building to clear up past due items before the bank was able to offer terms. After debts were cleared, the borrower went back to the bank for long term financing.
Borrower had a multiple site transaction closing and could not find a bank to provide funds prior to closing. TFG was able to step in and provide needed capital in order to pave the way for a sale.
After several years of entitlement planning, borrower was months away from getting approval from city. Problem was that the bank would not offer any more extensions on loan. TFG paid off other lender and gave more time for planning process. Within 8 months, plan was approved, and construction lender paid us off with new construction loan.
Building had already been renovated yet nearly all tenants were on MTM leases making conventional financing difficult. We quickly closed and investor began the process of leasing up the building with long term tenants. Once stabilized, loan was refinanced with local bank.
Building was vacant yet was the perfect location for a local company to expand. Local banks couldn’t lend due to the condition and vacancy issues. TFG was called to make it happen!
Borrower needed to use this commercial building as collateral for another purchase. Once purchase was complete, the loan was paid off via conventional financing within 1 year. Timing is everything!
The permits were in hand, the subs were lined up, and the builder needed a lender. Due to several delays, he had a choice to either work with a bank and close in 60-90 days or begin construction immediately. Rainy season was fast approaching and there were concerns that the steep slope construction would be a problem if they waited. Instead of risking more delays, TFG was called and we answered with a creative solution to keep this builder moving forward.