Monthly Archives: May 2020

PPP Update

The House approved a bipartisan bill that would loosen requirements on hundreds of billions of dollars in small-business loans, responding to concerns from employers struggling to stay open during the coronavirus pandemic. The House bill reduces the level of Paycheck Protection Program funds that must be used for payroll to 60% from 75%. The bill […]

Update Hard Money Guidance

We have surveyed a number of lenders to find out which are still lending.. Below are some updated guidelines for most lenders. Max LTV for purchase & refinance bridge loans: 65% Max LTP (loan-to-purchase) for fix & flip: 80% Must have 20-40% down payment Max LTC (loan-to-cost) for rehab projects: still 100% for most lenders Max LTARV (loan-to-after-repair […]

PPP Update: Small Businesses should shop their funding needs.

The second round of the Paycheck Protection Program launched last Monday and has so far provided over 2 million loans worth over $175 billion out of the total $310 billion Congress authorized in the latest relief package. However, bank industry groups say the majority of the $310 billion is likely already used up given the high volume […]