BELOC Credit Lines
Business Expansion Line of Credit (BELOC)
The McMann Commercial Lending Business Expansion Line of Credit (BELOC) is an exciting program to fund your next commercial real estate project with no personal guarantee, no credit check, and no lien on your property. Here are some of the highlights of the BELOC program:
- Rates from 2.75% to 7.875% Fixed for 10 Years
- You can combine several plans into one loan
- Loan Amounts From $100,000 and up
- NO Pre-Payment Penalty
- No Personal Guarantee
- No Personal Credit Reports Pulled or Needed to Qualify
- Previous Bankruptcies allowed
- No Restriction on Use of Funds
- Loans can be for any project located in any stabilized Country
- Interest Only Payments
- The ideal business startup loan, historical track record of the LLC is not needed
- Property Ownership is NOT Required, no title liens
- Loans are Corporate Only
- A Low One Time Due Diligence Cost (this is the only out of pocket expense)
- Save on the closing cost of Site Inspections, Appraisals, Construction Draws of Development, Rehab or Construction Loans
- The average out-of-pocket savings over a small conventional loan is at least $35,000 for each loan
- Cash is wired directly to the business bank account
- A Qualified Business Plan and Exit Strategy is a Must!
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