This is a copy of the press release I just issued. I am really excited about the distressed real estate programs that we have available and I hope that the way that I am getting the word out is the right way to do it. The website listed below isn't up and running yet. it will be by next week at this time. I need to write an article for the business enterprise and see if I can get it published. It would be nice in the sl tribune as well. I think that with the right borrowers, a lot of money could be made. The window is now however. Waiting won't do. Here is the press release:
"Segway Funding has been retained to locate, identify and originate private bridge loans and/or joint ventures for owners and developers of foreclosed and distressed real estate projects. These scenarios often involve properties where a new lien holder has recently purchased a loan note as part of a larger FDIC loan pool.
Frequently these notes are being repurchased by the original property developers but that is not a requirement for financing consideration. Over $1 Billion is to be deployed over the next 6 to 12 months working specifically on individual note purchases on distressed property acquisitions. The rates on these loans are excellent as well and include construction funds where applicable.
Opportunities might include busted condominium projects, townhome properties, commercial office buildings, industrial properties, retail projects, either completed or near completion. Improved commercial/industrial and even residential land will also be considered. For additional information, please go to www.distressedrealestatecapital.com .
If you feel that you have a loan and/or joint venture opportunity, give us a call at 801-273-7700 or email at info@segwayfunding.com. We will not consider any single-family residential (1-4 units) notes or properties.
Segway Funding, Inc. specializes in arranging short-term (1-72 month), hard money / private equity loans nationwide. If you would like to contact them about this press release or for general company information please contact Charlie Crump at 801-273-7700 or email at info@segwayfunding.com"
Wednesday, April 15, 2009
Charter School Loan Closed!
Segway Funding, Inc (www.segwayfunding.com) is pleased to announce the successful funding and subsequent loan closing for a Charter School Building. The developers need a construction loan to have the school ready by the end of summer for the 2009-10 school year. They have strong credit and the financials on the property were excellent but all the local banks that they had relationships with were unwilling to make the loan. Granted they liked the charter school loan but they simply don't have the money to lend right now - or they are unwilling to lend it. I suspect a little of both.
Because the various banks had strung out this developer, the charter school wasn't going to be started in time for completition for the coming school year. They had to get a loan in place within 30 days to make the construction deadlines. They called Segway Funding. We met with them in their offices the next day and and immediately set to work. We internally underwrote the loan in two days and ordered an appraisal from a charter school specialists we know. A few days later we had arranged the lender and the race to close began. It was an intense process but in the end the loan was successfully funded and closed. The rate was phenominal and the client was thrilled with the results.
It feels good to know that Segway Funding was able to arrange the charter school loan in shuch break-neck speed. The client is happy, the lender is happy, and most importantly, the kids will be happy in their new charter school building next school year.
Segway Funding specializes in difficult loans. We typically originate hard money bridge loans, private loans, hard money loans, bridge loans, hard money bridge loans, bridge equity, etc. Please feel free to contact charlie crump at 801-273-7700 or visit www.segwayfunding.com.
Because the various banks had strung out this developer, the charter school wasn't going to be started in time for completition for the coming school year. They had to get a loan in place within 30 days to make the construction deadlines. They called Segway Funding. We met with them in their offices the next day and and immediately set to work. We internally underwrote the loan in two days and ordered an appraisal from a charter school specialists we know. A few days later we had arranged the lender and the race to close began. It was an intense process but in the end the loan was successfully funded and closed. The rate was phenominal and the client was thrilled with the results.
It feels good to know that Segway Funding was able to arrange the charter school loan in shuch break-neck speed. The client is happy, the lender is happy, and most importantly, the kids will be happy in their new charter school building next school year.
Segway Funding specializes in difficult loans. We typically originate hard money bridge loans, private loans, hard money loans, bridge loans, hard money bridge loans, bridge equity, etc. Please feel free to contact charlie crump at 801-273-7700 or visit www.segwayfunding.com.
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