Metro Funding is seeking "Small Balance Loans"

Unlike many financial institutions today that are tightening their belt, Metro Funding is constantly looking for good investments where we can put our capital to work. In the interest of diversifying our loan base we have allocated $20 Million for use with “small balance” loans. This money has to be out of our hands and into projects within the next 3 months!

How small of a loan?

$2 Million and below will receive very favorable rates and terms, even on land!

What you can expect…

• 12% Interest

• As low as 2 Points on Income Producing properties

• As low as 8 points on land loans!

• No Prepayment Penalty

• All points paid from proceeds at loan closings

• Brokers points honored and protected

All other loan scenarios are also welcome.

Should you have any questions or loan scenarios that you would like to have reviewed feel free to call or email me. I also have a loan submission form that makes it quick and very convenient to submit loans, if it would be helpful to you please request it.

Metro Funding Corp. Closes $3.8 Million Development Loan

May 8 -- Metro Funding Corp. (MFC), a private asset-based commercial real estate lender announces the funding of a $3,800,000 loan to refinance and develop a Roman Bath and Spa Resort in Staten Island, NY. The borrower approached MFC after discovering that they needed funding to bridge their project to a point where a conventional lender would provide permanent financing. "This is a perfect example of how conventional banks are being inhibited by the credit crunch. Borrowers who are heavily invested in great projects are being turned away," says Senior Associate Ben Rutkevitz.

Metro Funding diligently pursued measures that created a win-win situation. The ability to cross-collateralize some of the borrower's additional assets was particularly crucial in this case. The subject collateral is a planned three story 27,760 SF commercial building. In addition to the Roman Spa, the building will include a restaurant and office space. The Spa will be complete in the summer of 2009, while the restaurant and office space are scheduled to be open by the end of 2008.