This is a Chicago area company run by Chicago area people. The lender is self-funded, with more than 100+ years of collective experience in real estate, finance, law, and accounting. We can fund 10 days. The team is agile, responsive, and works collaboratively to make decisions in a timely fashion and facilitate the projects. P4 Financial L.L.C. facilitates loans involving commercial real estate of the types and purposes set forth below:
- Bridge financing, construction, note on note financing, value add rehab,
cash out finance, “early bird” development, capital expenditure, discounted payoff. - Users: owner-occupied (business only) and non-owner-occupied.
- Target loan: amount to $25,000,000 ($2,000,000 minimum)
- Loan terms up to 24 months (options to extend may be available).
- Repayment: interest only, principal due upon payoff.
- Interest rates: W.S.J. prime + (4%-10%), dependent upon deal characteristics.
- Loan fees: 1% to 2% origination/exit.
- Collateral first mortgage + assignments.
- Recourse full or partial.
- Prepayment penalty: none -may be subject to a minimum earnings clause.
- Loan-to-cost: maximum of 80%.
- Loan-to-value: maximum of 75%.
- Typical property types: income property single-family homes, multi-family rental, retail, office, cannabis, mobile home communities, for-sale condominium, mixed-use.
industrial/warehouse, hospitality, infill vacant land, self-storage. - Excluded property types: owner-occupied residential.
- Select loans may be made outside of Illinois.
- We can have the proposed loan underwritten in as little as five days.
- We don’t want any money up front (Application deposit due upon acceptance of loan
commitment letter)