by Katherine Santiago
A borrower, who was purchasing an 80-unit apartment complex in Baton Rouge, Louisiana, was in jeopardy of losing out on the deal if they were unable to close it within 3 weeks. After contacting numerous lenders, the borrower found that Direct Lending Partners was the only lender able to get the financing done within the short timespan.
DLP Direct Lending Partners closed a loan for $2.675 million for the borrowers in time, allowing them to move forward with their business opportunity. “We were able to close the loan in just 17 days without a problem, which is an extremely fast timeline for a multi-family bridge loan,” comments Nathan Trunfio, President of Lending at DLP Direct Lending Partners.
Direct Lending Partners funds all of their deals directly. By offering direct funding, we are able to utilize an efficient and practical approach to underwriting that allows us to fund deals that banks cannot. By performing our own underwriting and funding, we can also close loans extremely quickly; often times, in just under one week.
To discuss financing or to learn more about our preferred broker program,
Nathan Trunfio Greg Schecher
President of Lending Director of Loan Origination & Capital Markets
(484) 276- 3861 (561) 843-6032
Bethlehem, PA St. Augustine, FL