New York, NY, February 10, 2008 --(PR.com
)-- Fast Capital 360, LLC, (FC360) recently acquired a $2.67M loan for a veteran Tony Award-winning costume designer’s new business venture. The designer, who wishes to keep his name out of the papers for the time being, has been recognized for his excellent work in numerous Broadway hits. He has previously worked with FC360 on expanding his studio in 2007.
After the success of that financial transaction, he returned to FC360 to inquire about financing the opening of a new business. Not only were the professionals at FC360 able to obtain the funds, but they also lowered his interest rate by several points and exceeded his cash-out expectations. “The major difficulties in this transaction were the borrower’s credit, which was in the mid 500's, multiple late mortgage payments, and being stated-income-stated-assets” says Barb Weidner, Vice President of Operations at FC360, who managed the transaction.
“Through our relationship with an AAA bank, however, we were able to negotiate an interest rate of only 6.625%,” explains Weidner. “On his own, he would have been looking at a hard money loan at an interest rate of 13%.” Weidner and her colleagues take pride in FC360’s strong relationships with financial institutions. “Despite the credit history, we were still able to take the borrower from a hard money loan to a better interest rate,” she adds.
Roie Raitses, CEO of FC360, worked on the deal with Weidner as well. “FC360 was once again able to prove traditional lending practices wrong,” says Raitses. He describes the mortgage business as “a business where relationships matter; We have working relationships with a large variety of banks, major financial institutions, hedge funds, REITs, insurance companies, small community banks, private money, mutual funds, and credit unions.”
On FC360’s strengths, Raitses adds, “we offer the best financing options for any project, achieving optimal performance for our clients and we specialize in complicated loans: low credit scores, short time frame, high leverage loans, and so on.”
Fast Capital 360 is the financial solution for the growing business needs of its clients, no matter the project or business sector. FC360 not only provides an extensive list of funding options, but professional consulting services that go hand-in-hand to developing a profitable business. Over the years, it has expanded its services to include mergers & acquisitions negotiations, business plans preparations, film financing, viability reports, and valuation reports, among others.