Lending Bee, Inc


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Phone: 818-761-7234

Address: 6350 Laurel Canyon Blvd., Suite 340, North Hollywood, CA 91606

Website: http://www.lbccapital.com/

Email: info@lendingbeeinc.com

States They Lend In: California

 

Establishing lending relationships are important for commercial and residential property investors. Many investors would benefit from the hard money loans provided by Lending Bee, Inc. and will be particularly pleased with the firm’s 7-day funding policy.

At Lending Bee, Inc. we are dedicated to giving our clients the benefit of streamlining the funding process. We will shop your hard money deal to get you the best rate, term, and points. We will shop through our sister fund LBC Capital Income Fund, LLC, as well as other individual investors and private mortgage funds.

 

Destroying Monopolies

 

We are the type of Californian lending company that’s attempting to break the abusive monopoly that other private mortgage fund firms have established on private money loans, private financing, and private mortgage pools. We will shop your loan to make sure you will get the best possible rate and term. More importantly, you don’t have to wait for weeks or months to close your loan. We can fund our deals in as little as 7 days!

 

LOAN CRITERIA

 

There are many different types of loan criteria available when it comes to hard money financing. We offer hard money loans on all types of residential and commercial properties. We also provide hard money loans for ground up construction and construction completion projects, as well as raw land. Lending Bee, Inc. is here to give borrowers a multitude of choices and features in terms of loans. The following is our loan criteria for hard money loans in California:

 

Property Types: Residential, Commercial, Multi-Family, Industrial, Raw Land, Industrial Building Financing, Non-Owner Occupied Financing, Office Buildings, Mixed Use, Special Purpose Properties, Church Financing, Synagogue Financing, Temple Financing, Medical Buildings, Manufacturing Homes. We will consider doing hard money loans on all types of properties in the state of California.

 

Loan Types: Interest Only privately financed (Hard Money) loans, bridge loans, loans for investors and flippers based on ARV (After Repair Value). Lending Bee, Inc. will entertain not only 1st TD loans, but also secondary financing, cross-collaterized financing, UCC filings on businesses. Each hard money loan will be considered on a case by case basis.

 

Loan Amounts: From $50,000 to $10,000,000.
 
•Loan Term: 6 month to 120 months

 

•Loan to Value Ratio (LTV Ratio): Up to 75% for improved properties (in major metropolitan areas only). Our best loan programs and rates would be for the LTVs of under 65%.

 

•Minimum FICO Credit Score: Our hard money programs are designed for people with low FICO scores, No FICO scores or bad credit in general. Yes, we do loans for people with bad credit scores or as some of lenders say – we do bad loans. Having a high Fico score or good credit profile will be used as a compensating factor to lower interest rates on specific hard money loan scenarios. Having low or no Fico score will not deter us from funding a hard money loan transaction.
 
•Location: Only in California.
 
•Closing Costs: Please email us for a Good Faith Estimate detailing your closing costs.
 
•Origination Fee: Lending Bee, Inc. bases its origination fee on a number of criteria, which includes the size or amount of the loan, loan term, borrower’s credit worthiness, a property’s location, and the quality of the property (some of which are also used to determine the overall interest rates of the loan). Email us to submit your specific hard money loan scenario.
 
Interest Rates: The rates for our typical loans range between 8.9% and 12.99%. These hard money rates depend on credit worthiness of the borrower, location of the property (within the state of California), condition of the property, LTV Ratio (Loan-To-Value Ratio), quality of the borrower’s credit profile (credit score, prior history of payments on real estate loans, financials, etc.). While our fund’s main underwriting criteria is amount of the equity in the property, we do however look at other compensating factors. Compensating factors for the borrower and the property will be considered for a lower rate. Please keep in mind that LBC Capital Income Fund, LLC funds and originates hard money loans in the state of California only with the preferences in Los Angeles County, Orange County, and San Francisco County. Interest rates in those areas will be lower. We may arrange hard money financing in other states through Lending Bee, Inc. as well.

 

 

TYPE OF PROPERTIES

 

We here at LBC Capital Income Fund, LLC welcome all types of real estate loans because we’re able to identify a client’s vision and correctly access the property value. Besides which, we offer an enticing ROI of 8%, which investors will find attractive.

As mentioned in the loan criteria section, there are several types of properties eligible for use in acquiring hard money loans. On that note, here are the types of property that qualify for a private mortgage fund.
 
•Apartments: Residential real estate or housing unit that’s self-contained and lies within a part of a building. Such a structure may be referred to as an apartment house or an apartment building, particularly if it contains multiple rental apartments. These housing units can be rented by tenants or owned by an owner/occupier/landlord.
 
Non-Owner Occupied Houses: As opposed to owner occupied houses, non-owner occupied houses have the tendency to have lower-credit risk characteristics that make borrowers perfectly eligible when it comes to hard money loans. It should have weaker incentives to maintain mortgage payments whenever housing values decline and have higher credit scores.
 
•Industrial Property: Industrial property, according to the Paris Convention for the Protection of Industrial Property, isn’t only applicable to commerce and industry proper, but also covers extractive and agricultural industries and to all natural and manufactured products such as flour, flowers, beer, mineral waters, minerals, cattle, fruit, tobacco leaf, grain, and wines.
 
Commercial Property: Also known as income or investment property, a commercial property refers to land or buildings made to become profitable either through rental income or capital gain. Examples of commercial property include multifamily housing buildings, residential property containing more than a certain number of units (in certain states), garages, warehouses, farmland, shopping centers, retail stores, etc.
 
School Property: Incidentally, even school property can be eligible for use in a public mortgage fund as long as it’s closed and it’s assigned to the disposal process.
 
•Special Purpose Property: This is a property that’s only appropriate for a limited or specific use. If it’s a building that cannot be converted to another use without a large capital investment, then it’s a special purpose property. For example, marinas, tennis clubs, golf courses, and carwashes are considered special-purpose property because of their inherent, “special purpose” nature.

 

Church Property: Even church property or any surplus properties part of a church (building) or owned by a church (nonprofit organization) are eligible for use according to the policies dictated in acquiring hard money loans. From churchyards to church buildings, chapels to church grounds, they’re all considered as church property.

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