The coolest part of the program is that we can lend even if the merchant is shut down or has little to no cash flow. Basically we’ll assess their cash flow before the whole COVID-19 thing. The program lends up to $2,000,000 at 4% per month with the first 12 months interest only and the second 12 months regular principal and interest payments (amortized over 48 months to keep the payments reasonable in month 13). When the loan closes, WBL collects the first 3 months of payments so the merchant won’t have another payment until month 4. To qualify, the merchant has to put up real estate as collateral…just about any property will do. If WBL is in first lien position, we can lend up to 70% of a residential property’s value or 65% of a commercial property. If WBL is in a junior lien position, then we can lend <65% CLTV. Everything is subject to the underwriter’s discretion.
We love our customers, so feel free to visit during normal business hours.
5690 Fullerton Ave, Buena Park, California 90621, United States
09:00 am – 05:00 pm