Sure Sports Lending has secured our own line and new loan requests (viable contract advance) can be funded within as little as 48 hours. It's a big deal because we are no longer competing on price alone and now we are also competing on timing! If time is the most important factor in your loan request, we can accommodate a quick turnaround. If price is the most important factor in your loan request, we still offer the best prices on the market! The following table is a comparison of terms between a hard money loan and a Sure Sports Bank Loan. Is your client stuck with a loan like this? Let Sure Sports refinance it. In the months of August and September we will refinance any hard money loan without charging our customary underwriting fee. Contact us today for more details!
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Loan Comparison - Hard Money vs. Sure Sports
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Hard Money Loan
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Sure Sports Loan
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Loan Amount
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$1,000,000
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$1,000,000
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Terms (Months)
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11
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11
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Interest Rate (Annualized)
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13.75%
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6.19%
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Legal Fee |
$9,960
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$0
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Due Diligence Fee
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$28,685
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$0
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Origination Fee
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$19,522
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$0
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Loan Servicing Fee
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$19,522
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$0
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Lender Fee
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$9,960
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$10,000
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Closing Fee
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$9,960
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$0
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SSL Underwriting Fee
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$0
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$30,000
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Total Fees
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$97,610
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$40,000
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Total Interest Expense
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$134,213
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$31,232
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Interest Prepaid at Closing
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Yes
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No
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Net Proceeds from Loan
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$768,177
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$960,000
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Total Loan Expenses
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$231,823
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$71,232
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Expenses Ratio
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30.18%
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7.42%
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Another successful Sports and Spirits Event is in the books for the Sure Sports Team. Our most recent party surrounding the NHL and NBA Drafts, was hosted at BalQony in Fort Lauderdale on Thursday, June 25th - check out our Facebook page for photos! Congratulations again to Rene Castro on winning the raffle for Miami Heat Tickets. We appreciate these opportunities to sponsor events and meet other professionals in the sports industry. See our list of upcoming events in this newsletter and let me know when we can meet in person. I am looking forward to it!
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Sincerely,
Joleen Matte
Director of Operations
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