The NYCRC takes seriously our role in spurring job creation and economic development as well as our responsibility to assist our EB-5 investors and their families begin a new life in America. We are proud that our first loan to the Brooklyn Navy Yard Development Corporation has been repaid, added George L. Olsen, Managing Principal of the NYCRC. This repayment is a major milestone for the NYCRC and, of course, for our EB-5 investors and their families. The repaid $60 million loan is one of seven NYCRC EB-5 loans totaling $339 million being used for critical projects in the Navy Yard. Since 2010, EB-5 capital from the NYCRC has directly helped implement a broad range of new construction, infrastructure and building improvements, and the renovation of over 1.2 million square feet of vacant and dilapidated buildings. Examples of additional NYCRC funding within the Navy Yard include the following: $72 million of capital to facilitate the construction and renovation of Building 77, an approximately one million square foot industrial building and the largest facility in the Navy Yard. Building 77s core systems suffered heavily from years of neglect and exposure to the elements and needed substantial renovation. EB-5 capital from the NYCRC is assisting with a major restoration and fit-out of the building. $65 million of capital to assist with the expansion of Steiner Studios, the largest film and television studio complex in the eastern United States. Capital from the NYCRC facilitated the construction of five new television and commercial soundstages totaling 45,000 square feet as well as the renovation of a historic but vacant seven-story 235,000 square foot building into production and support space within the Navy Yard. $80 million of capital to increase the production capacity of Steiner Studios and further reinforce the Navy Yard as a central location for media production in New York City. This capital is helping construct six new soundstages and production support space totaling over 177,000 square feet. The new facility will contain specialized stage and production space to support the increased demand from film and television companies.
However, today there are various loan options in the loan market which offer you an array of choice. The more feedback they can provide, the more dedicated they are to your project, the better chances of your success. Generally, brokers and loan officers are usually allowed some extra compensation when signing in a deal with you. Also, the debt coverage ratio should not be less than 1.2, which would require the borrower to generate a net cash flow that is 120 percent of the debt service amount. The long term potential capital growth, added to an almost guaranteed income stream, has proved to be a strong attraction for investors in commercial property. If you have no credit or bad credit and are ready to apply for a loan, you should go on-line to search for a list of private bad credit lenders.
Whats more? Even though the approval comes instantly, you have to pay a slightly high rate of interest due to its unsecured nature. There are number of ways to generate a cash flow for your business. With this option, borrowers are made to consolidate their total debtmerging all outstanding payments into one single unpaid amount that is then cleared with a Bad Credit Debt Consolidation Loan. Commercial Hard Money Loans are real estate loans based primarily on the collateral. However, non-payment is always looked at as a breach in confidence.