What Does Delancey Street Actually Do?
Money and finances should never be the obstacle that stops you from succeeding. We regularly help entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.
Hard Money Loans
Need help capitalizing on a potential real estate transaction? We can help. We look at you, and the quality of your deal only.
Merchant Cash Advance
We provide merchant cash advances within 24-48 hours. Tell us about your opportunity, and we’ll let you know if we can fund it.
Small Business Loans
We provide competitive rates on small business loans nationwide. Tell us your need, and we'll get you the funding you need.
Have bitcoin, but need capital? We lend against bitcoin, and other cryptocurrencies. Contact us to find out whether we can help you or not.
Delancey Street believes in providing opportunity to entrepreneurs. We're open to any type of creative financing opportunity presented to us. Nothing is unorthodox.
We invest capital, or can help you find access to private money / venture capital, for your next project / deal.
Hear from people we’ve helped
“Delancey Street makes lending easy. They took a chance on me when no one else would.”
- Leo kovacz
Industries We Service
- 1 Tell us what you need
- 2 We'll evaluate it
- 3 We'll offer our terms
- We guarantee you funding
- Risk free to you, no strings
Our team is always available, and ready to help
Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.
Hard Money Loans Made Simple
Delancey Street’s team consists of builders, developers, hard money lenders, and entrepreneurs. We understand your project has unique needs, and not every project is going to be easy and be ideal. These are general guidelines which should be interpreted as a suggestion, rather than mandatory.
At the end of the day, we look at you – just as much as the quality of the deal and the qualifications.
- Risk Free. No Application Fees.
- Decisions Within 48 Hours.
Hard Money Loan Guidelines
|Speed||We close within 24-48 hours|
|Qualification||Project and LTV matter. We don’t care about your credit.|
|Loan Terms||12-48 Months|
Recently Funded Projects
Residential refinance in Los Angeles, with a loan amount of $830k, at 75% LTV. We were able to help the investor get a loan at 8.99% with a balloon payment after 18 months.
Delancey Street funded a new residential purchase in California, for $1.2 million with 82% LTV. We helped the developer with a loan at 11% with a balloon payment in 9 months.
Property in New York was torn down, and redeveloped. We provided a 60% LTV loan for $700k. We charged no upfront fees, and had a balloon payment after 10 months.
Frequently Asked Questions
How do Delancey Street hard money loans work?
Delancey Street provides hard money loans nationwide. Sometimes you need funding for a new deal ASAP. When that happens, Delancey Street is here to help you. We provide hard money loans for a wide array of properties, ranging from commercial properties to residential properties. We handle all LTV’s, up to 90%, and in some cases are ok with even 100% LTV financing. The main thing our team cares about, when evaluating hard money deals, is whether or not we think the project will succeed. At the end of the day, a hard money loan is collateralized by real estate. We base our evaluation based on the present value of the real estate, and what we think you’ll be able to do with the real estate property. Our goal (and yours), is to transform that property so that everyone makes money. We can work with you on a variety of loans, like:
- Bridge loans, to help to bridge a funding gap you’re facing in a new property purchase, or a fix and flip which is going over-budget.
- Fix and flip loan, which allows you to buy a property and rehab it, and then flip it at a profit.
- Property refinance, to help you pull cash out of equity you’ve got in a property.
- Construction loan, to help developers get started on a new construction project with the intent of refinancing it later, or selling it at a profit.
How do merchant cash advances work?
Merchant cash advances are one of many business financing options that Delancey Street provides. We have a number of financial tools at our disposal to help business owners get funding for whatever comes their way. We provide merchant cash advances to businesses all over USA. Merchant cash advances aren’t a loan – they are an advance payment against your future income. We provide you with a lump sum, which is then repaid using a % of your daily credit card receipts/bank deposits. This is great for businesses who have some short term financing needs, don’t necessarily have a strong credit history, and above all – have a recurring and steady stream of revenue. The % we take from your daily sales is known as the holdback/retrieval rate. It can range anywhere from 5% to 20% based on how much money you borrowed, your credit card sales, and the repayment period. Depending on how much money you were advanced, terms can be as short as 90 days or as long as 18 months. Repayment of the merchant cash advance begins immediately after you get the funds. The amount you can borrow when you work with Delancey Street on a merchant cash advance depends on your average credit card sales.
How can we help with small business loans?
Delancey Street looks at your situation, and then makes a recommendation on what we think is best to help you. Sometimes, that might be a term loan, and in other instances, it might be a line of credit. Typically, every business has a situation which forces it to choose one over the other. In some cases, if you have a short term need, then a line of credit might be faster and more suitable. It all depends on your situation, and it’s our job to make the recommendation that matters. For example, a small business loan is great for companies that have been in business for over 6 months, and have some recurring cash flow and track record. In addition, depending on whether it’s an unsecured or secured small business loan, collateral may be requested by the lender. It depends on your unique situation.
Typically, loan terms are good for amounts up to $1-2 million. They have low annual interest rates, and can have terms of 2-36 months. Typically, there may be a loan origination fee, but it’ll be low. These loans are great for people who need a form of long term financing, which will be used to pay for new inventory, new locations, quite frankly – anything new – which will generate an ROI over the long term.
Lines of credits can also be offered, up to $100,000 or more, depending on your credit history. The great thing about lines of credits is the fact you only pay interest on what you draw. You can take advantage of new business opportunities with a line of credit. Because the line of credit is “on top,” you can pounce on opportunities as they appear, and be ready for unexpected costs. Simply put, depending on your situation and your needs, one or both may be good for you.
When to consider getting a hard money loan
Hard money loans are used as investment tools by investors. They are useful in a few situations, such as:
- Unable to get financing elsewhere. Funding real estate investments is tricky. Traditional mortgages are difficult to get under normal situations. Banks are very cautious of making loans for investments, as opposed to loans for residences. As a result, if you’re looking for investment funds – then get a hard money loan.
- You have a poor credit history. Hard money loans are based off the collateral of the investment, not your ability to repay. Loans made to consumers – as opposed to lenders – are based off your ability to repay the loan. This means if you have a poor credit history, or no stable income – then you might not get approved for a loan.
- You need money. Hard money loans are great so you can get money ASAP. Traditional loans take time. Hard money is very fast. If you need to capitalize on an opportunity immediately, then you can get a hard money loan. If you can wait several weeks, then it’s better to get a hard money loan.
Why Do Hard Money Lenders Exist?
Hard money lenders server a very specific group of people, i.e. real estate investors. Hard money lending is a form of short term lending, which is secured by real estate. Specifically, the people who use hard money loans are typically real estate investors – typically, those who are being denied a traditional loan due to stringent guidelines.
Hard money lenders exist because they are fast, and offer loans with little to no headaches. Hard money lenders have a streamlined application system. They expect collateral, and don’t look at your credit score. They focus on your experience, rather than your credit worthiness. If you have a checkered financial past, it’ll be easier to obtain financing by using a hard money loan rather than a conventional loan which is granted based on your credit report. Below are situations where hard money lenders fill a void that traditional lenders don’t touch:
Fix and Flip Loans
Most traditional lenders will not give you a loan for a fix and flip project. If the house is in poor condition, or there’s some other abnormality with the house, then a traditional lender will not give you funding. In addition, most fix and flip potential deals “go fast.” The seller is very motivated to sell the property, and will accept the first offer. Traditional lenders take forever, so by the time the loan is approved – you’ve already lost the property since someone paid cash for it. If you have a hard money lender on your side who can close a loan in 5-10 days, you can get the fix and flip property.
People With Bad Credit
Most traditional lenders look at a borrower’s credit report. They verify your income, and investigate past delinquencies. It means that someone with a checked credit history will have a difficult time, and in some cases never get approved. When this happens, your only option is to work with a hard money lender. While the interest rates for a hard money loan are higher than traditional loans – if the deal makes sense, it might make sense to take the money.
Sometimes, your project goes over-budget and as a result you need additional funding. Some traditional lenders will refuse, because the project isn’t completed. While this can be devastating, a hard money lender might be willing to lend you the funds. Hard money lenders are happy to give money to bridge the gap in funding, and can work with you to fill that void.
We provide opportunity – first, and foremost. It just happens to be that we do it, via loans, private equity infusion, etc. We believe money should never stop you from achieving what you want. We help entrepreneurs, real estate investors, and businesses, challenge the status quo by providing them with the funding they need. At Delancey Street, we take risks on the go-getters, and doer’s – who have an opportunity and need a partner.Learn More
Get Merchant Cash Advances Loans Even With Bad Credit…Here’s How
This is a fact: sooner or later, you will need money to fund your business and grow it. This is simply put, a fact of life. It doesn't matter what…
Why medical practices are turning to small business loans now more than ever
Members of the medical industry are perceived as having comfortable and super lavish lifestyles. This is totally untrue. The cost of running a medical practice is getting high year over…
Working Capital Loan vs Term Loan
This article discusses working capital loans and term loans. Both loans are used to increase your cash flow and revenue, but each loan is good for a different type of…
Subscribe to our Newsletter
Learn about the latest news on Delancey Street.