We're Proud to Serve
Often times our job becomes more about helping the community, than helping a single individual.
We recently worked for our client, Miguel, a pastor looking to buy a commercial building to start a church in his local LA community. Even though Miguel had a great FICO score of 790 and had 30% down for the property, banks refused to fund his project solely because his company was new and didn’t have the significant financial history to qualify.
Fortunately, it’s times like these that we find our greatest purpose here at Capital Direct Funding.
Thanks to a fellow loan officer and colleague, Miguel was referred to us. We got started working with him right away, knowing very well that we’d do everything in our power to help him succeed.
And we did just that.
It’s almost been a year since Miguel opened his church. We feel proud that, through this transaction, we’ve been able to affect hundreds, if not thousands of people in the community on a very personal level.
It’s what we’re here for. We’re just proud to serve.
Making Dreams Happen Everyday
The best part of our job is that we get to turn dreams into reality every day! Take our recent client, Jorge, for example.
He’s a small business owner with a growing family, that was determined to build his portfolio. Jorge’s longtime dream was to buy an investment property with an ocean view that he would use as a rental property for additional income.
He was able to find one that he absolutely loved, but even though he was able to put down 40% for the purchase, traditional banks wouldn’t lend to him. In their eyes, Jorge’s credit history wasn’t strong enough. Only complicating matters was the rapidly approaching deadline to purchase the property. Jorge only had 13 business days, with no extensions, to complete the deal.
It was at this point Jorge’s realtor referred him to us. We immediately put a package together that got him funded on time, well before the deadline. Now, Jorge owns that gorgeous, new rental property.
Needless to say, he was all smiles and so proud to accomplish his dream. We couldn’t have been happier to help. Thanks Jorge!
The Tough Get Going
When times get tough, you find out who’s really got your back.
When one of our recent clients, Carlos, was referred to us, he was looking to grow his business by purchasing a new commercial property.
On paper, Carlos was the perfect borrower. He had a strong credit history and enough capital to put down 35%. Unfortunately, the property he was interested in was considered un-fundable by mainstream banks because it was an older building, originally built in 1929.
Carlos was in a tough situation. He had a purchase contract for 90 days and when all of the banks denied him, he was already at day 70! If he didn’t get the deal done, he was most likely going to have to uproot his life and move his business out of state to lower operating costs. With only 20 days left, we knew we had to do everything we could to make this deal happen.
We did just that. Through our expertise and knowledge of tough circumstances, we closed right on time!
We helped Carlos by refinancing another one of his properties, then combining the two properties to the same loan. This cross-collateralization helped secure his new funding before he lost the contract.
In the end, Carlos was able to stay here in LA and provide local jobs, rather than having to take his business elsewhere. Getting the deal done required a lot of hard work, but every bit of it was worth it to have been able to help Carlos and the community!
More Than They Bargained For
Many times, we end up doing more for our clients than they even thought possible.
Take Leo, for example.
He was an owner of a talent management company for 20+ years in Los Angeles and needed to pay off a couple of loans. In doing so, Leo was interested in freeing up some capital by refinancing the 4-unit complex he owned.
He visited four different banks, with similar outcomes. Unfortunately, none of them were willing to offer refinancing because Leo’s credit score was 650, well below what they’re looking for.
Luckily, through a referral by a friend, Leo sought our assistance. Just after briefly hearing of his situation, we knew we could help. We not only got him refinanced and set up with a plan to transition to a traditional institutional loan with better rates, we were able to save him from incurring more debt on his other outstanding loans.
It was more than he expected, but we just love surprising people with additional savings!