Plano, TX -- (ReleaseWire) -- 05/11/2017 --Viking Capital Finance announces a new commercial finance program focused solely on arranging commercial bridge loans for commercial real estate borrowers currently unable to secure financing from conventional bank lending options for requests from $2 million to $30 million.
The company is pleased to announce the launch of a new website to better serve commercial borrowers that have been turned away from traditional banking options and are now seeking a commercial bridge loan until the borrower and/or project is bankable.
New website and program details available here: https://www.commercialbridgeloans.net/
This program is available for most types of commercial real estate assets including apartment buildings, automotive centers, industrial buildings, hospitality, land, marinas, mixed-use developments, mobile home parks, multifamily, office buildings, RV parks, repair shops, retail buildings, self-storage and senior housing facilities in metropolitan areas. The company will also consider small balance commercial loans for transactions ranging from $250,000 to $2 million to better serve commercial real estate owners in non-metropolitan markets across the USA.
Over the next few months roughly $55.8 billion in CMBS debt will come due according to Trepps's April CMBS report. Of that total 5.98% is past due on payment and 10.57% is in special servicing. As the two dominant property types, office and retail loans comprise 26.25% and 26.63% of the volume maturing during this time frame, respectively. The majority of these borrowers facing maturity will have few options other than some form of creative financing alternative such as a commercial bridge loan according to Jim Buckingham, Director of Business Development.
About Viking Capital Finance
Viking Capital Finance is a privately held commercial finance intermediary focused on building relationships with borrowers seeking an alternative to traditional bank lending options. The company's specialty is competitive "outside the bank" senior debt solutions for companies seeking to purchase or refinance commercial assets including real estate and equipment.