DELANCEY STREET

Here's Who We Are

We're a Direct Lender

We’re a direct lender who funds small business owners nationwide, regardless of industry, credit, or time in business. We fund it all. GUARANTEED.

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We Provide Multiple Options

We have a lot of different financing options available to our clients. Regardless of your situation, we’ll have a solution for you.

Fast Approval

Our application process is completely online. You can get funds in your bank account in literally 24 hours.

The Working Capital You Need In 24 Hours.

We get you funding. It's that simple. Regardless of credit, income, or time in business - we'll fund you.

Apply

Use our online form or call toll-free anytime to get started. There's no cost, and the application takes only three minutes.

Approval

Receive application approval in as little as 24 hours. There is no credit check required.

Receive Funds

Review and return your signed agreement and get your money in as little as 24 hours.

Recent Funded Business

100K Term Loan

Ambulance Service

Our client bought a new ambulance.
2019 - June
55K Advance

Truck Funded

Our client used the funds to hire new team members.
2019 - February
85K Term Loan

Restaurant Funded

Our client used the funds for restaurant equipment.
2019 - May

Get a Decision in as Little As 30 Seconds

We’re Fast. We Help Regardless of Credit. WE HAVE A SOLUTION FOR YOU.

Apply Online

We have a completely online application process, which is simple and easy.

Get Offers

We'll match you with the best loan offers we have that are financially responsible.

Get Funded Quickly

We'll fund you the same day you accept our offer.

How Delancey Street Works

Fill Out Our Application

Answer basic questions about yourself and fill out our entirely online application. Each loan has its own online process.

Meet Your Concierge

We'll pair you with an experienced Delancey Street specialist who will reach out to you, and understand your needs. We'll try to determine which financial product is right for you.

Compare Our Loan Offers

We give you a few different loan offers based on your scenario and what options you qualify for.

Choose Your Loan

Once you've chosen a loan that works for you, we finalize it and start getting the documents needed.

Get Funded

Once we get all of the documents back, we'll get you funded ASAP.

We Help You Grow

After you get funded, your Delancey Street concierge specialist will keep in touch to make sure you're happy and doing well.

Business Loans

Get business loans ranging from 3 months to 18 months
No credit score requirement, we have a program for everyone
We can fund up to $5 million in virtually 24 hours

Maryland Fix and Flip Loans

What Are Fix And Flip Loans?
Fix and flip loans are a type of financial backing that make it possible for a developer to purchase, renovate, and re-sell a property for profit. These types of loans can come from a number of sources, from banks and other financial institutions to private lenders. Before even considering a fix and flip loan, however, the first order of business will be to find a property to invest in. Once you have located and chosen a property to renovate, then it will be time to consider financing options.

If you already have the financial means to cover all the necessary costs, you can proceed to the next steps. However, most individuals will need to seek out options to finance the four steps to flipping a house. These include:

  • Depending on the lender you choose to work with, you will require 20%-45% of the full price of the house as a down payment.
  • Covering the costs of labor and materials for renovating the house.
  • Closing costs for a Realtor who will be responsible for locating a buyer and selling the house once renovations are completed.
  • The total “holding” costs of the home, including any Homeowner’s Association fees, insurance payments, and various costs of owning the property during the renovation process.

FINANCING YOUR PROJECT
When it comes to financing a fix and flip project, traditional bank loans are not a promising option. This type of endeavor is considered risky, therefore many banks aren’t interested in funding such a project via a loan. House flippers are basically real estate investors. This means that income does not come on a regular basis because the work is essentially seasonal in nature. This is one of the main reasons a bank will not approve a business loan for this type of venture. For banks that are willing to provide this kind of loan, you may discover that their loan product does not meet your needs. For example, bank loans are usually long-term and most fix and flip projects take only a few months from beginning to end.

Most people undertaking a house-flipping project choose to find alternative ways to fund it. Oftentimes – especially for those undertaking their first endeavor of this kind – friends and family may be willing to invest or loan the necessary funds. Others will choose to access the available home equity funds. Over time, successful fix and flip projects create a track record that showcases success. Once this occurs, bank credit and funding from private investors become more readily available options.

MAKING ALL THE RIGHT MOVES
There are some important steps you will need to take prior to applying for a bank loan to fund your project. Of course, the best teacher is experience, so once you have some successful projects in your portfolio, more doors will open and progressively better opportunities will come your way. Until that time, there are some points to take note of that can assist you in securing funding by providing potential lenders with the added assurance that you are a responsible and sensible borrower. These points include:

1. Have A Sound Business Plan In Hand
Informing a potential lender of the specific details regarding a fix and flip property will be up to you. These types of lenders are used to lending money for the improvement of properties which are in poor condition. They will want to know precisely how much rehabilitation will be necessary in order to make an informed financial decision. To present your proposal in its best light and increase your chances of receiving monetary backing, you will need to provide:

  • Background information on all parties who will be involved in the project such as inspectors, contractors, partners, etc.
  • The physical address of the property.
  • At least one “Plan B” in the event that the initial renovation plan does not work out for any reason.
  • A detailed analysis of the neighborhood in which the property is located.
  • Comps, or sale prices, of at least 2 to 3 similar homes in the same neighborhood (“comps” referring to comparable properties).
  • Sound financial forecasts, various strategies, and a detailed and realistic timeline for the renovations. This is referred to by house flippers as “scope of work”.
  • Two valuations of the property as provided by a professional appraiser, including current property value and estimated value when all renovations are completed.

2. Provide An Accurate Estimation Of All Renovation Costs
An initial estimate that falls short of the actual funding necessary to complete the project can cause the entire fix and flip project to fail. In order to avoid this issue, it will be important to create a very detailed scope of work. This will require the assistance of a professional appraiser and an experienced contractor. Working together, an appraiser and a contractor will be able to determine and provide all-inclusive, accurate numbers for the lender.

3. Develop A Comprehensive Network
From the first steps of your fix and flip project to the last, making good connections will be of the utmost importance. When choosing the people who will be a part of your endeavor, do your homework and make certain you are aligning yourself and your project with hard-working, reputable people. It will truly be a group effort, and the more experienced the members of your group are, the more successful and lucrative the outcome of your project will be.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

In The Media

Delancey Street CEO discusses ways to reward employees
Delancey Street CEO discusses the benefits of franchising on Forbes.
Delancey Street CEO discusses management on AMEX.
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Delancey Street understands funding like no one else!
Steven Norris
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