COVID-19 RELIEF LOAN PROGRAM
Loans for Businesses Impacted By The Coronavirus
The Coronavirus is having a devastating impact on businesses throughout the country. That’s why Coastal Kapital LLC has launched a COVID‐19 RELIEF LOAN PROGRAM where it offers financing up to $2,000,000 to businesses impacted by the pandemic.
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866-670-7483
covid-19 relief loan program
The program effectively loosens underwriting guidelines with respect to cash flow requirements. So, businesses shut down by the government or taking responsible action to limit the spread of the disease can still qualify despite little or no cash flow.
All loans are secured with adequate equity in virtually any form of real estate. The two-year program is intended to give a struggling business the capital necessary to weather the economic storm by providing:
- Shut-Down Period - no payments due for the first three months
- Recovery period - interest only payments for the next 9 months while the business is restored to a normal state.
- Pay-Back Period - where the loan begins to amortize the next year.
any business impacted is eligible
- Acceptable: virtually any combination of real estate may be used as collateral. This includes ommercial, industrial and residential properties including properties under construction, parking lots, gas stations, co‐ops, mixed use, farms, etc.
- Unacceptable: raw land, cemeteries, casinos, cannabis farms, churches/synagogues.
- Shut Down Period: no payments are due for the first 3 months (the first 3 months of payments are interest only and collected at closing).
- Recovery Period: months 4 12 Interest Only daily or weekly payments
- Pay‐Back Period: months 13‐24 during which daily or weekly Principal and Interest payments are due amortizing the loan over 48 months, with a balloon payment of principal due after the full 24-month term.
- Pre-Payment Discounts: none.
Proud Partners With
- Internal Property Valuation (up‐front): $500 for residential and $1,500 for commercial property.
- Title Fee Cancellation Cost (up‐front): for commercial/industrial properties with a loan amount > $1,000,000 - the cost varies by geographic location, typically $3,000 to $5,000 per property.
- Borrower Funding Fee (net of proceeds): $1,500 processing plus 3% origination of the loan amount.
No Payments for 3 months!
Apply For The Covid-19 Relief Loan Program Today
Applying for relief funding doesn’t have to be a hassle – apply with Coastal Kapital now and get the financing you need
Start an Application