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

North Dakota Fix and Flip Loans

Flipping homes is a popular way to profit in the real estate industry. If you want to finance a home to flip in North Dakota, you need to produce costs for the four parts of the flipping process. If you have a detailed plan for each part of the flipping process it will be easier to afford the whole project with the financing, you get.

The Four Funding Needs when Flipping a House

  • Financing for the purchase price of the house. You will need twenty to forty-five percent for a down payment.
  • Holding costs are the expenses you must pay for while you are renovating. Insurance and HOA fees are types of holding costs.
  • Materials and labor for the renovation.
  • Hiring an agent to help you find a buyer.

Before you look for financing for a home you want to flip, you should create a business plan for your flip. This plan will help your lender understand exactly what you will use the money for and exactly how much time you expect the renovations to take. While nothing is exact, be as specific as possible with your plan so you can convince a lender that your flip will profit.

Things to include in your business plan:

  • Include the address of the home you want to flip.
  • Include information about the neighborhood the home is in.
  • Your lender will want to see comps (sales prices of comparable homes in the neighborhood).
  • The scope of work: a time line and projections for the renovation.
  • Background information on anyone helping you or working for you.
  • A plan B. What will happen if everything doesn’t work out?
  • A current valuation and estimated valuation after the renovation. A professional appraiser does this.

To accurately estimate your renovation, you need to have an appraiser and contractor work with you to create a timeline and give you a quote of how much your renovation will cost. With the help of these professionals, you will have correct figures to take to a lender with your business plan.

If you are going to look for lenders in your community, it is important to introduce yourself to the industry by networking. Join clubs, organizations, and network with other real estate professionals regularly.

Types of Loans for Flipping Homes:

  1. Ask Friends and Family

    Take your project to your friends and family to find funding. This is especially helpful if it is your first house to flip. Get everything in writing and treat it like standard funding. Pay your lender(s) when expected even if they are family members. Make sure you check the tax laws and rules when you borrow money from family.

  2. Partner with Someone

    Networking can help you find a partner that will fund the project. Depending on the work and how you want to divide duties everything is done together, or one can supply the funding and the other can do the work. The partners usually split the profits from the flip after the partner is paid back.

  3. Use Your Home Equity for a Line of Credit or a Loan

    If you have your own home and have equity in your home, you may qualify for a loan or line of credit on your equity. The money will come in a bulk sum from a loan and with a line of credit, you can use it as you need to use it.

  4. Draw Some Money on Your 401k

    Check with your 401k and see what the terms are for taking a loan on your balance.
    You usually need to have a large amount to make a flip and should reconsider if you are close to retirement.

  5. Personal Loans

    You may have to combine personal loans with other funding. You can use a personal loan for any of the expenses with your project. A personal loan is paid back over several years at around 5% interest with good credit.

  6. Owner Financing

    Find a flip home that you can owner finance for a few months, then pay off the seller when it is sold. This will need a down payment and an agreement on the interest rate. Present your business plan to the seller to show them your plans to renovate.

  7. A Hard Money Loan

    A hard money loan is a loan from investors or individuals that is not a bank loan.
    The qualifications are lower to get these loans, so the interest rates are higher and there may be fees that are costly.

  8. A Commercial (Business) Line of Credit

    Once you flip houses for a while, you may qualify for a line of credit for your business. It takes good credit and a healthy business to qualify for a line of credit for your business.

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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