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Finance
Hard Money lenders are often from private sources. The lending philosophy is to fill niches conventional lenders will not touch. Because of their small size and personal involvement, hard money lenders can usually close a loan much faster and with less paperwork than a conventional lender. Speed and flexibility are the hard money lender's biggest competitive advantage, allowing them to charge higher rates and fees than conventional lenders. Because hard money is expensive, it is typically viewed as a temporary solution. Loans are usually written for no more than a 5 year term.
Established in 1997, Andaman Island Group is a fully integrated company dealing in different areas of real estate and investment and is also a mortgage lending company. Our primary focus is to provide financing for collateral-based situations that require immediate funding. In this capacity, Andaman Island Group has evolved into a major bridge lender, specializing in fast and creative solutions. Our reputation has been built on the ability to close complex transactions with consistency, speed and reliability. We have provided bridge loans to various borrowers throughout Thailand, secured by a wide range of commercial property types.
While open to opportunities wherever they can be found, Andaman Island Goup has focused on scenarios in which it has demonstrated expertise Gap/Bridge financing, foreclosure workouts, bankruptcy resolutions, discounted mortgage buybacks, unpaid tax remittances, and short fuse opportunity financing are all examples of transactions that can be closed with immediacy. Andaman Island Group lends on commercial properties and land parcels nationwide, offering loan amounts ranging from Thai Baht 1,000,000 to Thai Baht 80,000,000.
Lending Area: Thailand. Other countries to be considered.
Loan Size: From Baht 1,000,000 to Baht 80,000,000
Loan Term: 6 months to 3 years (shorter or longer terms considered on an exception basis)
Amortization: Interest only
Loan-to-Value: Up to 60% of security
Prepayment: No prepayment penalty, although typically a six month minimum term
Borrower: Single Purpose Entity Ownership Structure preferred
Closing: Normally 10 day closing available
Most of our loan terms are between six months to one year. We can provide extensions if necessary.
At Andaman Island Group, our primary focus is to bring to the marketplace short-term financing for situations that need immediate funding. Typically, these scenarios are either problem solving or opportunity facilitating in nature. By bypassing all possible impediments, we are able to deliver a faster closing. Our reputation has been built on the ability to close difficult transactions in a fast and effective manner.
- You are in contract to buy a property and are pressured to close soon. You are still waiting to sell a property you own – the sale’s proceeds of which you hoped to use for the purchase. You don’t want to go through the hassle of permanent financing on the property you own just for a few months; a permanent loan takes a while to close and it is likely to include a hefty prepayment penalty. A real estate bridge loan from us will allow you purchase the property you want while giving you the time to sell the property you own.
- You are buying a property for conversion. No bank is willing to lend to you on this project. You need bridge financing to carry you through the purchase and the construction. A bridge loan from us may be the perfect solution.
- You are buying a run-down property to redevelop. No bank is willing to lend to you on this property. Here, too, you need bridge financing for the purchase and renovation. With a bridge loan from us you can seize the opportunity.
- Your credit has just been hit, and no bank is willing to lend to you. You need interim financing. A bridge loan from us will give you a chance to fix your credit and obtain a permanent loan later.
- An opportunity has just arisen. You need to move fast, and no bank can provide the capital fast enough. A bridge loan from us will make your deal happen.
- Buyouts. Your partner needs quick cash and wants to be bought out. A bridge loan will give you the cash you need to possibly buy out your partner at a very favorable price so that you can steer your business is the direction you want.
- The mortgage on your investment property is maturing with a balloon payment due shortly. You are not prepared to pay it off and risk foreclosure and damage to your credit. A bridge loan from us will preserve your credit and give you the needed time to sell or refinance. |
Bridge loans