Commercial-mortgage lender Silver Hill Funding LLC has launched Commercial Direct, an online loan customizer designed to support “fast and flexible lending” to small businesses and real estate investors, including those in the self-storage sector. Loans are adjustable to individual needs, allowing customization of fixed-rate periods, interest rates, payment dates and prepayments, according to a press release.
Borrowers can seek funding through an online application. Customized terms are calculated to “enable borrowers to select their ideal solutions and get pre-qualified in minutes,” the release stated.
Commercial Direct will make loans between $250,000 and $5 million at 80 percent loan-to-value. The mortgages will be backed by Silver Hill.
“We created Commercial Direct because in today’s competitive, digital-first world, small-business owners and investors are hardwired for high speeds and need fast, flexible loan solutions to move their businesses forward,” said Leslie Smith, managing director. “We enable first-time and experienced borrowers alike to make quick, informed decisions and to close their loans in a matter of weeks as opposed to months of processing often experienced with traditional bank mortgages.”
Silver Hill is a national, small-balance commercial mortgage lender. It’s a division of Bayview Asset Management LLC, a full-service mortgage-investment firm, which has specialized in building and managing mortgage loan portfolios for more than 20 years. Silver Hill specializes in loans for light industrial, multi-family, office, retail, self-storage and other commercial properties.
BusinessWire, New Direct Lender Introduces Customizable Commercial Mortgages