Delancey Street has recently announced that they will be offering hard money loans to people in the Los Angeles area. Their headquarters is located in New York City, with an extra office in Los Angeles. They will offer Southern California cannabis private money lending opportunities, and there has already been a lot of interest and demand.
At Delancey Street, we have a conglomerate pool of investors with great expertise in cannabis private money lending. These investors have decades of experience in the industry and have the resources to meet your needs. In addition to funding your new venture, our cannabis private money lenders can provide the assistance you need.
Alternative Funding for Those with Assets to be Used as Security
Specifically, the business helps entrepreneurs and other companies that are looking for alternative forms of funding and that have enough assets against which the loan can be secured. Not just that but Delancey Street also helps businesses that want to go public, consulting with and advising them. They find the best ways for them to raise capital, using a process known as reverse mergers.
A reverse merger (also known as a reverse takeover or reverse IPO) is a way for private companies to go public. It’s typically through a simpler, shorter, and less expensive process than that of a conventional initial public offering (IPO), in which private companies hire an investment bank to underwrite and issue shares of the new soon-to-be public entity.
Funding for Real Estate Investors in California
Real estate investors in California will now be able to finance both residential and commercial projects. The focus for Delancey Street is specifically on non-owner occupied properties, something that traditional banks generally refuse to touch. Additionally, they are happy to provide funds for up to as much as $10 million. Delancey Street officially announced their move into the Los Angeles market at the end of February 2018.
Borrowers now have a Los Angeles private money lender to turn to, when traditional financing isn’t possible. We’re setup to be your concierge lender – who acts as your partner in each and every venture. Our board of advisors include experts who’ve done hard money loans for years, and have immense experience evaluating new investment opportunities, and managing large businesses. Our goal is to be the most responsive and personalized los angeles hard money lender – with a focus on the quality of the asset, not just the investor.
Goal of Helping Developers Rejected by Banks
By providing prospective investors with loans for as much as $10 million, Delancey Street is set to really change the real estate market across Southern California. They want to work with those developers that regular banks have turned away. They aim to offer high flexibility in terms of interest rates and other condition, focusing specifically on brokers and investors who need bridge loans and hard money loans as quickly and as easily as possible.
One of the key benefits of hard money loans is that it is very easy to apply for them. Indeed, the qualification criteria are very easy to meet.
When you need quick financing to take advantage of a profitable opportunity in real estate, hard money lenders are likely to be one of the options you consider. But before they do so, you will need to meet their loan disbursement criteria so that they can be sure that you are capable of paying back the loan.
The exact Delancey Street acceptance criteria have not been publicly disclosed. However, it seems the company is looking for those investors who have significant assets against which to borrow. Usually, criteria also include tax returns, a personal financial statement, and details on the property’s value. It is reasonable to assume that the company will also consider the experience of the borrower.