A business purpose loan includes, but is not limited to, a loan to acquire, maintain, or improve rental property; a loan to purchase, repair, or improve real property for use in the borrower’s business; a loan secured by a residential property to purchase equipment, machinery, inventory, supplies, rent, taxes, fixtures or furnishings used in the borrower’s business; for operating capital, employee salaries and other related business expenses; or to pay off or refinance business debts.
A consumer purpose loan is a loan primarily for “personal, family or household use.” Such loans include, but are not limited to, loans to purchase, remodel, repair or improve a principal residence or a second home; a loan to purchase furniture, furnishings, appliances, or other goods for consumer use; to pay or consolidate personal or family debt or credit cards; for education purposes, vacations, medical expenses, etc.
We make short term, equity-based loans on commercial properties in major metro markets of California. We lend against the following property types: multi-family 5+ units, office buildings and light industrial properties. We lend to individuals, trusts, LLC’s, corporations, partnerships and foreign nationals.
A bridge loan is a temporary loan with a maturity of 12 months or less connected with the acquisition of a dwelling intended to become the consumer’s principal residence. An example of such loan is a loan to finance the purchase of a new dwelling where the consumer plans to sell a current dwelling within 12 months.