New York-Based GCP Fund Removes Good Credit Standing as a Prerequisite for Private Loans
Summary
In the event that a borrower fails to pay back the loaned funds, the lender can simply claim the collateral and sell it to recoup their losses. We’ve come across companies from all sorts of industries, from biotech to hospitality, and I believe this is because we don’t really give much stock to credit history.”GCP Fund has repeatedly explained why its hard money loans are a smart option for borrowers. Credit checks, or lack thereof, remain the commercial lender’s biggest selling point to date. Also to date is the firm clocking over $2 billion in transactions by granting commercial loans between $1MM and $100MM worldwide.Currently, the private money lender offers quick loan approvals for the development and acquisition of several commercial properties, including restaurants, hotels, motels, churches, hospitals, apartment buildings, mixed-use properties, multi-family complexes, and raw land.To fill out the online application and learn more about the short-term and permanent loan solutions GCP Fund offers, go to https://gcpfund.com/.About Global Capital Partners Fund, LLCGlobal Capital Partners Fund, LLC is an established commercial asset-based lender headquartered in New York City. The company has flourished under the chairmanship of Joe Malvasio, approving multimillion-dollar commercial loans fairly quickly, thanks to in-house underwriting services and minimum prerequisites.