East Coast Commercial announces fast pre-qualification on commercial renovation loans and other types of business property financing in New Jersey, despite fluctuating short-term rates and heightened regulatory oversight.
-- New programs are now available to New Jersey real estate investors and business owners, encouraging renovation and stabilization activity in a market facing increasing regulatory pressures. These programs are part of an affordable alternative to traditional financing, which focuses on the projected value of the property after renovation (ARV) and the borrower's ability to complete the project. East Coast Commercial continues to expand, offering hard money loans, flexible business financing, and other programs with quick approvals—often within 1-2 days—to strengthen real estate activity in the state.
For more information, visit https://eastcoastcommercialllc.com/
Unlike traditional lending institutions that scrutinize credit, income, and debt-to-income ratios, East Coast Commercial focuses on property value, transaction merits, and a clean exit strategy. This makes them accessible to borrowers who may be 'maxed out' with banks or have less-than-perfect credit.
Short-term loans are popular with fix-and-flip investors but can be used to sustain progress during a renovation project. East Coast Commercial programs support the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method as a way to quickly recycle capital after a renovation. Owner and CEO Rich Setteducati states, "Using our funding approach lets you close more deals, which will lead to unlocking the capital you need to refinance, stabilize, or scale your commercial real estate ventures."
His team of real estate lending professionals can personalize and structure deals creatively, albeit within regulatory and policy constraints. Despite increased regulatory oversight, the firm offers bridge loans, hard money loans, and short-term solutions designed for property acquisition, renovation, and stabilization. As with most private lenders, East Coast Commercial loan rates range from 8% to 15%—higher than traditional lenders—and shorter terms of 6 to 24 months. However, most programs are approved within two days, significantly shorter than the 30-90-day timeline of traditional channels.
The Inflation Reduction Act (IRA) of 2022 has a significant impact on renovation financing, especially for projects that involve energy efficiency upgrades or renewable energy features. IRA incentives can help property owners offset a significant portion of their renovation costs, making the project financially attractive to lenders. East Coast Commercial works with borrowers looking to complete energy retrofits, solar installations, and sustainability upgrades while benefiting from the flexibility of short-term financing.
East Coast Commercial is headed by Rich Setteducati, a real estate and financing expert with more than 30 years of experience. Setteducati is a member of the Jersey Shore Chamber of Commerce and is affiliated with the Monmouth County Realtor Association.
For more information about pre-qualifying for a commercial renovation loan, visit https://eastcoastcommercialllc.com/contact
Contact Info:
Name: Michael O'Reilly
Email: Send Email
Organization: MORE Associates
Address: 104 W 16th St, Bayonne, NJ 07002, United States
Website: https://moreassociates.clientcabin.com
Source: NewsNetwork
Release ID: 89162212
If there are any deficiencies, problems, or concerns regarding the information presented in this press release that require attention or if you need assistance with a press release takedown, we encourage you to notify us without delay at error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our diligent team is committed to promptly addressing your concerns within 8 hours and taking necessary actions to rectify any identified issues or facilitate the removal process. Providing accurate and trustworthy information is of utmost importance.
