Asset Based Lending LLC

Name: Asset Based Lending LLC
Address: 66 Hudson St #301, Hoboken, NJ, 07030
Telephone: 201-942-9089
Rating: 3.6667

https://www.abl1.net/where-we-lend/hard-money-lend

(201-942-9089)

Claim

Fix and Flip, New Construction, Cash Out/Refinance

Asset Based Lending is a private lender in control of our own funds, which means we can provide fast (approval within 24 hours and closing in 7-10 days) financing for your project.

We provide twelve-month, interest only bridge financing for the following programs: Fix and Flip, New Construction, and Cash Out/Refinance.

ABL – Private Hard Money Lenders In New Jersey

We began our business in New Jersey and our headquarters remain firmly located in Hoboken. Asset Based Lending (ABL) knows the NJ real estate market from Newark to Phillipsburg and from Bergen County to Cape May.

Whether the loan is to completely renovate a multi-family dwelling in the Hudson County urban area or to remodel and refurbish an outdated suburban home in Essex County, we understand what our borrowers need to be successful. There are unique opportunities and challenges in New Jersey and its investors are taking advantage and dealing with them of them every day. We are helping every day.

We pride ourselves on the local relationships we have cultivated with the best appraisers, attorneys, and title agents in the NJ real estate industry.

New Jersey's Premier Hard Money Lender

Fast Fix And Flip Financing

Having the vision to identify a problem property and transform it into a beautiful, sale-ready home takes an incredible amount of skill. It also takes capital to purchase the property and do the rehab work. Asset Based Lending’s home fix and flip loans are the link to profitability and leverage in this scenario, and these real estate investor loans have always been the primary focus for ABL. Not only do we provide 12-month loans to experienced investors and professionals, but we also lend to qualified first-time borrowers as well.

Speed is critical to capitalizing on New Jersey investment opportunities, and ABL provides financing solutions that traditional lending institutions cannot. We can close in three to four days if all of the paperwork is in order, and the average closing time is just 10 days for our loans — which cover up to 90 percent of the purchase price and 100 percent of the rehab costs for a property. For more information such as rates and requirements, check out our additional details on fix and flip loans.

New Construction

Quick and flexible underwriting for new construction is often an essential component of profitability in various seasonal as well as market conditions. ABL provides new construction loans in New Jersey when conventional financing is not the right answer. New construction loans are available only to experienced investors, contractors and builders, who typically can borrow up to 60 percent of the land value and 100 percent of the construction costs.

While our underwriting criteria for construction loans is flexible, with no minimum credit score requirements, borrowers can be sure of our faith in them because we won’t issue a loan if our experience doesn’t convince us that everyone involved in the deal will profit. Click on the New Construction link above for more details about rates and requirements for these 12-month loans.

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Claim

Hoboken, New Jersey

Reviews

9 reviews

MARK L

10/10/2023

I AM A GUY WHO JUST WANTED A LOAN. I SPOKE TO KYLE MCCANN ON AUG 23.2023 AND HE SAID HE WOULD HAVE FUNDED BY SEPT15TH . I FOLLOWED UP 3 DAYS LATER AND ASKED WHERE MY TERM SHEET WAS BECAUSE HE SAID HE WOULD SEND IT OUT ON THE 23RD. NEVER GOT IT. AT THAT POINT I SHOULD HAVE WALKED AWAY. BUT I SENT IN MY DOCS ON SEPT 2 AND EXPECTED THAT IT WOULD BE PRECESSED BY THE 15TH. I WAS AWAY ON A VACATION WITH MY WIFE WHEN I GOT A CALL SAYING THAT KYLE DIDNT RECIEVE MY DOCS THAT I SENT ON SEPT 2,2023. SO I RESENT BY FORWARDING IT TO HIM ALONG WITH MY BROKER MIKE FARAGASSO. I WAS TOLD IT WOULD BE DONE BY END OF MONTH. I PAID FOR A NEW APPRAISAL EVEN THOUGH I WAS TOLD I WOULDNT NEED ONE. THEN WHEN TJ AND KYLE RECIEVED IT THEY SAID THERE WAS AN ISSUE AS IT WAS A SHORT TERM RENTAL AND THAT THEY NEEDED ADDL INFO FROM THE APPRAISER., WHEN I ASKED KYLE ABOUT IT . HE DIDNT RESPOND VIA TEXT OR PHON EOR EMAIL FOR 4 DAYS. TOTAL;LTLY UNPROFESSIONAL BUT HE HAS BEEN THAT WAY ALL ALONG. THEN A WOMAN AT THE FIRM TOLD ME THAT THEY SPOKE TO BOB THE APRRAISER AND ALL WAS GOOD AND THEN TJ SAID WE COULD CLOSE BY OCT 15TH. BUT THEN I FOLLOWED UP WITH BOB AND HE SAIDF HE HASNT SPOKE TO ANYONE SINCE TUESDAY OCT 3RD. AT THAT POINT I WENT BALLISTIC AND THREW IN THE TOWEL. I STARTED WRITING REVIEWS AND THEY GATED EVERY ONE OF THEM . BUT KEPT WRITING THE TRUTH. ALL THEY HAVE ARE 5 STAR REVIEWS. AMAZING. BUT THEN THE SVP JOE CALLED ME ON SATURDAY IN THE MIDDLE OF THE BAMA-TEXAS A&M GAME AND WANTED TO KNOW WHAT HAPPENED. I TOLD VERY OUNCE OF WHAT HAPPENED AND SENT HIM SCREEN SHOTS WITH DATES AND NAMES. HE THEN TOLD ME TO SEND HIM ALL THE EMAILS. I DID AND HE CLAIMED HE DIDNT GET THE,M. I WANT TO EXPOSE THIS COMPANY FOR WHAT THEY ARE! DISHONEST, UNPROFESSIONAL AND AFRAID TO HAVE THE REAL TRUTH WRITTEN WHEN THEY SCREW UP A LOAN WHICH COST ME DEARLY!P.S IF MANAGEMENT WOULD HAVE THEIR I.T. DEPARTMENT TAKE THE TIME TO LOOK AT MY EMAIL INTERACTIONS INSTEAD OF GATING MY REVIEWS THEY WOULD KNOW I WAS TELLING THE TRUTH. I WOULD BE GLAD TO SHARE WITH SOMEONE AT THE BBB BECAUSE GATING REVIEWS IS A DIRTY SECRET THAT ABL1 IS HIDING

Roshan Ambugo

12/10/2022

That one start review is the only accurate one. Two of these reviews are from actual affiliates that sell products to people that ABL refer them to.They are chock full of shady dealings. Their servicing company is a sham organization, check their one start review on google and moreover, they have low level employees in cheap shoes who aren’t wet behind the ears who will interact with you in such a terrible and adversarial fashion.I came out of my deals unscathed. But their goals is take your property.

E TS

10/07/2019

We have a partnership and the owner Paul has been horrible. If he doesn't like you, he will make your project a failure.

Michael Street

10/07/2019

I work with their loan officer Ed pretty often. He's a good guy to work with.

Romal Patterson

10/07/2019

Straight forward excellent service. This is a true investment company that has helped my portfolio to excel!! Thank you Paul and the rest of ABL staff for the investment opportunities. If you're serious about investing and closing ABL is the right lender for any investor if you're serious. They're only concerned about the deal and closing. No red tape or delays.