Acquisition-Only
  • Sylvan Business Services underwrites hard money acquisition loans using a completely different set of standards than the average bank or institutional lender.
  • We are usually able to approve requests regarding the acquisition of good properties with acceptable loan-to-value (LTV) rates.
  • We are able to respond to most requests with a definitive answer within 24 hours (subject to receiving appraisal confirmation of the property’s value) and to close on acquisition loans within 30 days (compared to the months that traditional lenders typically require).
Bridge Financing
  • A bridge loan is a form of short-term financing that can serve as a source of funding and capital until a company secures permanent financing or removes an existing debt obligation.
  • Bridge loans (also known as swing loans, gap financing and interim financing) are typically short-term in nature, lasting on average from 6 months up to 1 year, and are often used in real estate transactions.
  • It is put in place between the termination of one loan and the beginning of another loan.
  • Also, it is a form of an interim loan, generally made between a short term loan and a permanent (long term) loan, when the borrower needs to have more time before taking the long term financing.
Refinancing
  • Refinancing a loan allows you to replace your current debt obligation.
  • Through this process, you will take out a new loan to pay off your existing debt, and the terms of the old loan are replaced by a new updated agreement.
  • A quick close is crucial to refinance an existing loan. We have an average close time of fourteen days, unlike a conventional mortgage loan which takes a minimum of 60 days to close.
  • You can close with credit issues and can refinance with our loans as we are asset-based lending.
  • We specialize in innovative financing solutions and pride ourselves on financing challenging or hard-to- fund loans.
  • Our success has been built by looking at each loan scenario individually, providing prospective borrowers with personal and responsive service, and finding solutions that meet their financing needs.
Cash-Out Refinancing
  • Cash out and refinance loans on residential, multi-family and mixed-use investment properties are a common loan scenario for investors looking to capitalize on equity from an existing property.
  • These funds can be used for a variety of purposes including purchasing another property, paying down debts, and even covering the costs of renovations or upgrades.
  • A cash out and refinance hard money loan through Sylvan Business Services replaces the first mortgage on a property and takes first position. If the property is owned free and clear, the cash out loan amount may be as much as 65% of the as-is value of the property.
  • If there is a mortgage on the property, the loan amount is still based on the property’s value, but the proceeds would have to be enough to take out the existing mortgage and still provide the additional funds desired.