Borrowers
Borrowers
We provide real estate-backed loans for real estate investors. We understand the need for speed and assurance that your loan will close when you’re looking for a finance partner; that is where we excel, as most loans close in under two weeks.
Our affiliations
BORROWING
Exceptional Lenders
The LIONSCOVE team is comprised of active real estate investors with active projects in the greater Seattle area and a portfolio of properties nationwide. Since we’ve been both financiers, real estate investors, and developers, we know how to be flexible and quickly react to unforeseen issues. You will benefit from our experiences letting your project run more smoothly. Our goal is to help you keep your project moving toward a successful exit that will benefit you and improve the community.
Our Loan Products
We support a variety of project types through our various loan products. See the specifics of our programs below.
Value Add (Fix and Flip & BRRR)
Loan Amount: $100K – $3MM
Asset Type: 1-10 Unit properties
Ratios: up to: 75% loan-to-value (as-is); 70% loan-to-value (ARV); 80% loan to cost; 90% loan to purchase; minimum 10% sponsor equity
Construction holdback: Up to 50% of total loan amount, amount above $100K to verified by third party vendor
Experience: 1 completed project in last 3 years
Lien position= 1st
FICO: minimum 660
BK/Foreclosure: None in past 2 years
Reserves: 6 months
Term: <12 months
Recourse: Full personal guaranty
Time to close <2 weeks
Bridge
If you’re looking to fund a short-term loan on an investment property, our Bridge Loan program provides the necessary flexibility to keep your project moving forward.
Loan Amount: $100K – $3MM
Asset Type: 1-10 Unit properties
Ratios: up to: 70% loan-to-value (as-is) 🡪 65% if cash out; 80% loan to cost; minimum 10% sponsor equity
Lien position= 1st
FICO: minimum 660
BK/Foreclosure: None in past 2 years
Reserves: 6 months
Term: <12 months
Recourse: Full personal guaranty
Time to close <2 weeks
Rental Loan
We provide long-term financing for stabilized rental properties or portfolios of properties to generate cash flow
Loan Amount: $100K – $1.5MM
Asset Type: 1-8 Unit properties
Ratios: up to: 80% loan-to-value (as-is) or 75% on cash out;
Lien position= 1st no subordinate debt allowed
FICO: minimum 680
BK/Foreclosure: None in past 4 years
Reserves: 6 months
Term: 30 years
Recourse: Full personal guaranty
Borrower: Must be an entity
Time to close <4 weeks
Ground up development
If you own undeveloped property and need funds to construct a building(s) on the lot this is the loan product for you.
Loan Amount: $100K – $3MM
Asset Type: 1-10 Unit properties
Ratios: up to: 75% loan-to-value (as-is); 70% loan-to-value (ARV); 80% loan to cost; 90% loan to purchase; minimum 10% sponsor equity
Construction holdback: Budget to be verified by third party vendor
Experience: 3 completed project in last 3 years
Lien position= 1st
FICO: minimum 660
BK/Foreclosure: None in past 2 years
Reserves: 6 months
Term: <18 months
Recourse: Full personal guaranty
Time to close <3 weeks
Commercial Bridge
This product provides more flexibility in asset types than our traditional bridge loan and still gives you the flexibility required to complete your project.
Loan Amount: $100K – $5MM
Asset Type: 1-20 Unit; mixed use with at least 50% residential, mobile home park, case by case for retail and office. No hospitality or medical.
Ratios: up to: 70% loan-to-value (as-is) 🡪 65% if cash out; 65% (Commercial); 65% (cash out); 60% (MHP, Storage, Retail, Office); minimum 10% sponsor equity
Lien position= 1st
FICO: minimum 660
BK/Foreclosure: None in past 2 years
Reserves: 6 months
Term: <12 months
Recourse: Full personal guaranty
Borrower: Must be an entity
Time to close <3 weeks
Why choose LIONSCOVE
LIONSCOVE, operating like a bank, offers short term real estate backed loans (less than months) to borrowers for business purposes based on the properties equity.
On-time closing
You can depend on LIONSCOVE to give you confidence that your loan will close on time.
You can depend on LIONSCOVE to give you confidence that your loan will close on time. We have deep relationships with 3rd party teams such as appraisers, title, and insurance. They provide us with quick feedback so that we clear conditions promptly and close on time. We don’t extend a term sheet for every application we receive; however, we will close the deal for those we do extend a term sheet.
Customized loan structures
We are experts in structuring deals in innovative ways to get projects approved and funded.
We have deep relationships with 3rd party teams such as appraisers, title, and insurance. They provide us with quick feedback so that we clear conditions promptly and close on time. We don’t extend a term sheet for every application we receive; however, we will close the deal for those we do extend a term sheet.
Clear expectations with no surprises
We don’t like wasting anybody’s time. You will know if a deal doesn’t work for us up front.
If your deal is moving forward, we will provide you with a concise list of conditions to get approval and outline the timing and next steps involved. We’ll clearly answer any questions you may have to ensure all parties are aligned on what needs to happen and when. You’ll never be in the dark and will always know where things stand.
Access to an exclusive network of connections and resources
Our network of connections and resources with you.
We are willing to share our network of connections and resources with you. When there is something that we cannot handle directly, we introduce you to the people who can solve the issue at hand. We make sure that you get taken care of, your project is moved forward, and you are able to create your legacy.
How it works
Apply
Term Sheet
Collect and Submit
Due Diligence
Final Approval
Sign Docs
Where we lend:
We lend in all US States marked yellow.
We do not lend in the following states: Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington DC, West Virginia, Wisconsin, and Wyoming.
What others say
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