Another Borrower Gains Access to the Capital That They Need

CALIFORNIA, July 1, 2011 -- MMG Capital, a collateral lender out of Thousand Oaks, Calif., finalized today the $500,000 cash-out refinancing of a Charlotte, North Carolina estate property. The borrower, a high-net worth individual and the owner of several businesses, had begun franchising a recent start-up and was in need of capital for a variety of reasons. The fact that he was self-employed and had inconsistent income was an immediate disqualifier for bank financing. MMG Capital made the loan that was required to bridge the next couple of years where cash flow was projected to be tight, utilizing the borrower’s current real estate holdings as collateral for the business loan. 
 

"This was another classic case of a high net worth borrower being short on liquidity but heavy on equity," said Chris Gleason, managing director, MMG Capital. "We provided some flexible term options that made the borrower feel comfortable and the rest of the process was a breeze."  

The loan was secured by a large estate-like property in Charlotte, NC. The borrower owned the real estate free and clear and just needed to liquidate some of its equity in order to make ends meet. It's a common case these days: wealthy individuals can't find traditional financing because of their employment status.

MMG Capital specializes in creating opportunities for high-net worth individuals or entities that are short on liquidity to obtain financing for valuable projects or ventures. As a collateral-based lender, MMG Capital can provide financing to high-net worth borrowers that otherwise might not have an obtainable financing source.  As an active lender nationwide since 2008 and with more than 50 years of experience in real estate, banking and finance, MMG Capital has quickly carved out a niche in the marketplace and is one of the more creative lenders in the industry.  Utilizing both commercial and residential real estate, MMG Capital funds bridge loans for a wide variety of purposes.

For all inquiries, contact Chris Gleason,  This e-mail address is being protected from spambots. You need JavaScript enabled to view it  or 310.295.1121 (ext. 301)