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We are commercial real estate lenders, specializing in the financing of medical related facilities. Our services are available in all 50 states. How Much Can We Finance? DFS can finance 80-90% of the appraised value of the "brick & mortar", the actual value of the land and building(s) you are looking to purchase. We don't finance the actual business itself. We have a minimum finance amount of $300,000 with no maximum amount. Construction loans are based on the estimated construction costs for your facility. We will consider financing 80% of these costs. Credit Requirements & Borrower Responsibilities. We require all applicants and principles to have a FICO score of 650+ (or 600+ with Explanation) with no recent credit charge offs and no bankruptcies in the past seven (7) years. We will require personal guarantees from all of the principles applying for loans. You will be responsible for all costs related loan costs. This may include appraisals, environmentals, architectural and licensing requirements, etc. The borrowers will also be responsible for maintaining insurance policies on both themselves and the facilities (and facility contents) that are being financed. Our Fees DFS has a two thousand dollar ($2000) engagement fee that is due once you have agreed to and accepted our rate and term sheet. We require NO advance fee. In the event that your financing is not completed we will refund your $2000 less any reasonable expenses we have incurred in the funding process. In addition, MFD has a one percent (1%) administration fee that is due at closing. Generally this fee can be built into the loan itself. Our Terms While it is not possible to list our exact terms, we can generally offer our clients a few different loan scenarios. These include:
Getting Started To consider your loan we need you to complete two (2) forms. They are an Executive Summary Form and a Personal Financial Summary. Please complete both forms as best as possible and return them to us via fax at 775-878-0481. Call us toll free at 866-838-7084 if you have questions about these forms or any questions about any of our services. Once we have received and reviewed this information we will determine if we are able to proceed with your loan request. This process can be handled quickly and our goal is to get you an answer in 2-3 working days. At this point you can expect a formal loan quotation including terms and rates. How Long Does All This Take? Our usual loan process takes 4-6 weeks from start to finish. Usually the longest delay is due to the long period it takes to get a certified appraisal done on the property itself. Often it will take 4-6 weeks to complete the appraisal. Once the appraisal is completed we can generally complete the loan in 2-4 weeks. Contact Us We are Direct Funding Source Corp. of Gresham Oregon. We can be reached from 7:00 to 4:00 PST Monday through Friday. Toll Free Phone 866-838-7084 Fax 775-878-0481 Email info@dfscorp.com |
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