Boca Business Loans

Small Business Loans For Florida Businesses

When banks say “No”

We say “Yes!”

Obtaining small business loans in Florida can be a challenge. We specialize in small business loans and have options to help you
achieve your goals. Call us today at 561-807-9001 to speak to one of our highly knowledgeable loan officers.
Let us help you get the business purpose loan that's right for you. No obligation or harassing emails or calls. Simply call us today and we will work with you to get your business the money needed.

Small Business Loans: see which is right for you.

Approval in minutes
Collateral not required
Good credit is not required

Why Cash Advances?

Small Business Loans are a great financing option for small and medium-sized businesses. This alternative business financing was created specifically to address the problems of traditional financing options like complicated approval

processes, long waiting periods, spending restrictions, and high decline rates. You get a lump sum of cash deposited directly into your bank account. You receive cash in exchange for a fixed dollar amount of your future revenues.

No Assets… No Collateral… No Red Tape…

Complete a simple & confidential application & provide a few of your business bank statements via secure fax or email.

We conduct an independent industry analysis & present you with results & several options.

Wait 24-48 hours for approval of your funding choice.

Unsecured/Secured business loans from $25,000 up to $5,000,000 over up to 25 years

We make small business loans fast and simple. You can be approved in 24 hours and receive funding in days. We offer great rates and require no collateral, fees or obligation to apply for financing. What you should be thinking is what it is costing you not to have this money working for you in your business.

Unlike traditional bank loans, our business loans and Lines of Credit offer flexible cash flow financing. Traditional banks often require massive amounts of paperwork, make you jump through hoops to apply, require collateral, and can take weeks or even months to approve you.

Borrow for almost any business goal, such as:

Expanding your business
Investing in new equipment
Hiring more people
Launching innovative campaigns to bring more customers in the door

If your loan is for something else, just tell us in your application.

We Provide South Florida Business Loans in the following area's:

Delray Beach
Boynton Beach
Wellington
West Palm Beach
Boca Raton
Lake Worth
Port St Lucie
Pompano Beach
Palm Beach Gardens
Royal Palm Beach

Hard Money Equity Loans

Residential - Commercial - Business

"Millions To Lend!"

Hard Money Equity Loans. When traditional banks are unable to provide financing in time, a hard money loan can be the right solution. With a hard money loan, you get the funding you need when you need it. So if you require cash in a hurry, the loan specialists at Lord Mortgage & Loan have got you covered.

Private Funding When You Need It

A hard money loan is a type of loan used to purchase or refinance/cash out when banks aren't able to provide financing. At Lord Mortgage & Loan, we’re your source for hard money loans. We offer the private funding options you need to acquire your property; and because we work differently than a bank, we’re able to offer a quick, hassle-free closing.

Call Lord Mortgage & Loan today to learn more about our hard money loans and find out whether private funding is the right option for you.

CALL NOW 561-807-9001

Hard money loans are collateralized by investment real estate. The property serves as the primary security for the loan. Unlike traditional bank financing, hard money loans can be obtained quickly and are typically offered with little documentation.

Hard Money Loans are considered to be "Non-Recourse". This means that in case of foreclosure or non-performance on your part, you don't have to pay the lender back. The property is the only collateral that is at risk.

Since hard money loans are based on the value of the underlying property, they are typically used for fix and flip projects, or for purchasing and holding investment properties.

The main downside to a hard money loan is the interest rate. They are typically much higher than traditional bank loans. However, the speed at which you can obtain a hard money loan can make it worth the extra cost.

If you are looking for a way to get into the investment property market quickly, and have some assets to use as collateral, then a hard money loan may be right for you

Now that you know a bit more about hard money loans, you may be wondering if they are right for you. Here are a few things to consider:

Hard money loans are collateralized by investment real estate. The property serves as the primary security for the loan. This means that if you default on your payments, the lender can take possession of the property to reimburse themselves.
Since hard money loans typically have a higher interest rate than traditional bank financing, it is important to do your due diligence and determine if this type of loan will work for you financially.
Unlike traditional bank loans which typically offer "amortization" (a loan that is repaid over a set period of time with equal payments), hard money loans are typically "balloon" loans. This means that you will have to pay the entire loan amount back at the end of the term.
Hard money loans can be obtained relatively quickly, sometimes in as little as a few days.
Even though hard money loans are interest-only, they typically have a longer-term than other types of financing options. This means that there are monthly payments required, just like with any other type of loan or mortgage.

Finally, since you are borrowing against the value of your investment property, it is important to keep an eye on the market and make sure that your property is not worth less than the amount you owe on it. Otherwise, you could find yourself in a difficult financial situation.

If you are thinking of using a hard money loan to finance your next investment property, be sure to do your research and understand all of the terms and conditions involved. Hard money loans can be a great way to get into real estate, but only if you are careful and do your homework.

Good luck!

Tips to help you buy your first home

First-time buyers may be eligible for a grant or loan from the Government if they plan to buy an affordable home.

Some banks and building societies offer shared-equity mortgages, where part of the purchase price is met by a grant from one of these schemes. The borrower then buys a portion of the equity in the property from the lender.

The first tip for first-time homebuyers is not to get in over their heads and buy a house that's too expensive.
There are many steps to take before you sign on the dotted line, so here we've listed some useful tips for first-timers who want to buy their own home, whether it be a flat or a terrace:
Get into the habit of saving regularly and putting money into a deposit savings account. You can use this to give you piece of mind that you'll be able to afford the mortgage repayments on your new home.
Look at how much you can borrow and what interest rate (which determines monthly payments) is attached to it. This will depend on factors such as credit score, income and savings.
Shop around as there are many mortgage deals to choose from and also try and find a deal that suits your needs best - such as those with longer or shorter repayment periods. You'll then be able to choose between a monthly or annual repayment plan.
Be aware of the different types of mortgages available on the market. The more common types are fixed rate, variable rate, trackers, capped rates and discounted rates. Those with smaller deposits may want to consider an equity loan or shared-equity deal.
Your agent will also be able to give you useful information and advice on mortgages, as well as the buying process in general. You can find out more about home buying from this source:
The Council of Mortgage Lenders (CML) Advice for first-time buyers .
Useful websites with mortgage advice include those run by: The Financial Conduct Authority (FCA) - Advice at a glance from the FCA , The Government - MoneyGuides or The Council of Mortgage Lenders (CML) .
Those thinking about buying a smaller property should consider how little maintenance it will need and what bills may be cheaper too. Taking this into account can make buying a smaller home more affordable.

Please remember that the value of a property can go up or down, depending on local market conditions.

Approximate values are only given as an indication of the likely price someone might pay for a property in these locations. Movements in house prices may not reflect actual price paid by purchaser.

What is the Qualifying Rate?

You may have heard of the term 'qualifying rate'. There is some confusion about what this means and how it affects you as a borrower.

The qualifying rate – typically defined as the Annual Percentage Rate – will affect whether or not your mortgage application will be approved and at what interest rate.
The lower your credit rating, the higher your interest rate is likely to be.
If you have a smaller deposit, the lower your interest rate will be because this provides less security for the lender in case you default on your repayments.
The term 'qualifying rate' relates back to before you decide to purchase a property and therefore offers advice before a mortgage application.

Who is it for?

Anyone who has decided they wish to purchase a property but hasn't yet found the right one. This checklist is designed to highlight areas you may need to focus on before discussing them with your lender so that your request will be approved.
It also highlights information you should collect from other parties, such as your proposed mortgage valuation and surveyor's report.

What should I know?

The qualifying rate is the lower of the two Mortgage Interest Rates that will be quoted by a lender. This figure is calculated on a case-by-case basis and applies to both variable and fixed-rate mortgages. It does not apply to tracker or discount mortgages.
Borrowers should be aware that if their Mortgage Interest Rate is lower than the qualifying rate, they will receive a decrease in interest points for this privilege. Borrowers must be sure that they can borrow sufficient funds to cover the additional payments.
The qualifying rate is often a little higher than the introductory Mortgage Interest Rate which you may have been given as an initial offer, but it can be useful if mortgage rates increase between submission and completion of your application. In this case, the lender would not need to re-quote for your mortgage.
The qualifying rate is used as a benchmark for any potential future changes to your contract. If you ask for, or the lender suggests lowering your Mortgage Interest Rate during the fixed term of your mortgage, they will need to satisfy themselves that it will still meet the agreed Minimum Qualifying Rate.
As with all things financial, there are local variations on the role of the qualifying rate and how it is used.

When should I think about it?

As soon as you decide you want to buy a property, even if you don't have a specific property in mind. You will be able to get an idea by looking on websites.
Before the mortgage application process begins, you should have gathered all of your data on outstanding debts and existing mortgages so that it can be used to calculate this rate on your behalf. If your lender is unable to offer a Mortgage Interest Rate that meets or beats the qualifying rate then you will need to re-think your choice of property.
You may also wish to ask for a list of properties in advance so that you can make an informed opinion about this important figure.

How do I get it?

It's advisable to take advice from more than one mortgage lender when comparing the options available to you. You should also take advice from a building surveyor and possibly a solicitor before applying for a mortgage as this will help with an accurate appraisal of the value of your chosen property.
Your choice of mortgage lender is just as important as the qualification rate itself. Look into how long they have been established, their history in dealing with existing customers and the level of customer service provided.
If you want to take out a mortgage for more than 80% of the value of your property, you will need to do this with two separate lenders. You may also have to take into account that different qualifications are required by each lender when getting quotes. This is why it is important to have your finances in order before you approach the lenders.

How can I reduce my mortgage interest rate?

Much of this process will depend on which lender you use. However, there are several things you can do yourself to improve your chances:

Provide accurate information about your future income
Keep your employment status and income constant
Give details of the value of any savings you have
Pay off your credit card bills, reduce outstanding balances on a current mortgage or clear other debts as soon as possible. This will help to improve your credit rating.
Good communication with more than one lender and a good credit rating will give you the best chance of getting what you want.

How is it used?

There are two kinds of Mortgage Interest Rate: variable and fixed rate. The qualifying or minimum interest rate will be applied to both, but in different ways depending on the type of mortgage chosen.

Fixed or Variable-Rate Mortgage

If you are looking at buying a home, there are many different kinds of mortgages to choose from. Two of the most common types of mortgages are fixed-rate and variable-rate mortgages. Many people wonder which type will work out best for them. A fixed-rate mortgage is just that, the interest rate stays the same throughout the time period of the loan. For example, you may take out a fixed-rate mortgage for 30 years. That means that your interest rate is locked in for the next 30 years and will not change until the end of the term of your loan. On a fixed-rate mortgage, there is no fluctuation with your interest rate. The periodic payments you make on the fixed-rate mortgage will stay the same for the entire life of your loan.

A variable-rate mortgage is one where the interest rate changes over time with market conditions. A variable-rate mortgage can be either a Canadian or an American style mortgage. With a Canadian style variable-rate mortgage, the interest rates are set by adding a margin to the Canadian treasury bill rate. With an American style variable-rate mortgage, there is a predetermined interest rate that fluctuates depending on market conditions. The periodic payments of a variable-rate mortgage will vary throughout the term of the loan as your interest rate changes.

Choosing between a fixed-rate and variable-rate mortgage really depends on your willingness to risk a change in interest rates. If you do not want the uncertainty of having to pay more for your mortgage as a result of moving from a fixed-rate to a variable-rate mortgage, then you should choose the fixed-rate option. If you are willing to take on the extra risk involved with choosing a variable rate over a fixed-rate, a variable rate mortgage will save you money in the long run.

You Should Know:

The term 'mortgage' comes from the law which states that somebody who lends another person money to buy a house or any other type of property is called a 'mortgagor'. The person borrowing this money is called a 'mortgagee.'

The term 'fixed-rate' refers to a mortgage where the interest rate on the loan is fixed for the life of the loan. The monthly payments remain constant throughout the life of this type of mortgage. Generally speaking, you will pay less per month by choosing a fixed-rate over a variable-rate mortgage.