Eureka, CA, July 16, 2012 --(PR.com
)-- Reprop Financial is helping commercial property owners untrap the equity in their coastal properties with a loan program that was launched in May.
“Our Best for Your Best” is designed to give commercial loans from small amounts up to $1 million at a low 5.99% for the first year -- the best offer Reprop Financial, a west coast real estate lender, has available. To qualify for this three-year loan, clients have to offer their best coastal properties. This is possibly the lowest rate ever offered on a wholesale basis for private money, also called hard money.
The limited time offer applies to owners of the best coastal properties in San Diego, Los Angeles, Ventura, south Santa Barbara, Marin, south Sonoma County, metro areas of Seattle and metro areas of Portland. Class “A” properties in these select markets commercial and non-owner occupied (NOO) residential properties: retail, office, mixed use and multi-family.
Founder and CEO, Glenn Goldan said quite a few people have recently purchased coastal real estate from banks or short sales. Now that land and home values are beginning to move upward in these areas, those owners can unlock their equity through this program -- up to 50% of the asset’s value. This allows the landowners to use that capital to invest in other commercial real estate.
“That’s a good thing for California and it’s a good thing for the economy,” Goldan said.
The rate schedule is 5.99% in year one, 6.99% in years two and three. There is also an optional ability to roll the loan into a 15 year fully amortized loan. Many banks are failing to serve commercial property owners who could use the equity they have in these their properties to invest in other commercial real estate which contributes to another drag on our economy.
The “Our Best for Your Best” loan program has been very well received since it was launched in early May. Reprop Financial has seen many who own smaller commercial properties that can’t find reasonable priced loans and therefore cannot reinvest in other properties. That’s why this loan program was created.
“Our Best For Your Best” is a loan program, and the terms of the program may be changed or withdrawn at any time. However, if Reprop Financial quotes a loan, they will live with what was quoted -- no last minute changes. For restrictions and more information on the loan program, go to http://repropfinancial.com/.
Reprop Financial, located in Humboldt County, also offers other loan programs in Northern California, including small business loans in coordination with the Small Business Administration. Local clients like Arcata Theatre Lounge and Goodman Winery have taken advantage of the loans to grow their business.
About Strategic eMarketing:
This Eureka, CA based marketing and advertising company develops transactional marketing campaigns that integrate search engine optimization, social media branding and performance tracking through strategies that include local search, SEO, website design, social media, advertising and public relations. Strategic eMarketing coordinated the marketing of the “Our Best For Your Best” loan program.