Direct Lender for Oregon Real Estate Investors

Cetan Funds offers flexible loan products including:

  • Residential Construction
  • Commercial Construction
  • Residential Term
  • Commercial Term
  • Fix & Flip Rehab Loans
  • Acquisition & Development
  • Bare Land and Lot Loans
  • Lines of Credit

We invite borrower collaboration: together we design a loan solution that is right for the situation. We bring our extensive local market experience in lending and real estate development to our decisions. A Cetan Funds loan is a relationship and not just a one-way business transaction. Once funded, you can always contact one of our founders for advice, to discuss new opportunities, or to help solve unexpected challenges.

Property Geographic Area Details

Oregon only

Loan Amounts

$50,000 to $1,000,000

Interest Rates

10% to 15%

Max Loan-To-Value


Max Loan-To-Cost


Origination Fees

3% to 4%

Loan Terms

6 months to 30 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property
  • Commercial Property Ground Lease

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Agricultural
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Bed and Breakfast
  • Car Wash
  • Child Day Care
  • Cinema
  • Club
  • Commercial Condominium
  • Commercial Land
  • Community Center
  • Condominium
  • Cooperative
  • Event Center
  • Gas Station
  • Golf Course
  • Gym
  • Healthcare
  • Hospital
  • Hostel
  • Hotel
  • Industrial
  • Manufactured Home
  • Marina
  • Mixed-Use
  • Mobile Home
  • Mobile Home Park
  • Motel
  • Multifamily
  • Night Club
  • Office
  • Parking Lot
  • Place of Worship
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • RV Park
  • Ranch
  • Recreational
  • Rehabilitation Facility
  • Religious Facility
  • Residential Land
  • Retail
  • Senior Housing
  • Single Family Residence
  • Sports Facility
  • Storage Facility
  • Student Housing
  • Theater
  • Timberland
  • Vehicle Parking
  • Winery

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Commercial Ground-Up Construction
  • Residential Ground-Up Construction

Specialty Loan Types

  • Land Development
  • Note Purchase
  • Partner Buyout

Agribusiness Loan

Will Consider Cannabis Use Properties


Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land

Will Consider Land That is NOT Entitled


Max LTV for Land


Max LTC for Land Acquisition


Purchase Loan

Max Loan-To-Purchase Price


Borrower Must Have Property Under Contract


Will Provide Proof of Funds Letter


Will Consider Lending on Purchase from Auction


Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Seller Financing
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required


Minimum Number of Value-Add Projects Completed by Borrower


Will Provide Funds for Renovation Costs


Max LTC for Renovation Costs


Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw


Construction Loan

Development Experience Required


Minimum Number of Ground-Up Construction Projects Completed by Borrower


Max LTC for Ground-Up Construction Costs


Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects


Details and Requirements

Typical Closing Time (Days)


Fastest Closing Time (Days)


Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Interest Reserve

Pre Payment Penalty


Typical prepayment term is 6 months with a prepayment fee of 1%.

Will lend to a foreign national


Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage


Will Consider Collateralizing Multiple Properties in One Loan


Will Consider Equity Joint Venture


Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Non-Profit Corporation

Documentation Required

  • Credit Report
  • Tax Returns
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required


Credit Check Required


Appraisal Required for Residential Property


Appraisal Required for Commercial Property


Broker Price Opinion (BPO) Accepted for Residential Property


Broker Price Opinion (BPO) Accepted for Commercial Property



Multi-Purpose Lender Fee

$850.00 to $850.00

Administrative Fee

Inspection Fee

Construction site inspection fee

Escrow Fee

Extension Fee

1% of loan amount and 1% interest rate increase for extension term.

Minimum Origination Fee Amount


Other Fee

$35 Monthly Servicing Fee

Fees which are mandatory for all new borrower clients

  • Multi-Purpose Lender Fee
  • Extension Fee
  • Other Fee

Fees which are paid to a third party company

  • Escrow Fee
  • Title Fee

Cetan Funds – Smart Real Estate Loans

Vested in your Success with smart & flexible loan products for Oregon investors, developers & builders.

Based in Eugene, Cetan Funds offers services throughout the state of Oregon. Our team has over 40 years of local lending experience as well as over 20 years in local real estate development, giving us a unique perspective on the needs of professional borrowers in our county and state. We operate with a culture of integrity, transparency, and fairness.

Cetan Funds provides many advantages as your private money lender:


  • Streamlined process can fund deals in 5-7 days


  • We evaluate each project by looking at the whole story and customize the loan package with the right fit


  • Work directly with Cetan Funds principals, avoid the layers of bureaucracy


  • Customized loan packages based on project viability that leverage our strong local market knowledge and extensive experience as lenders and developers


  • We want an ongoing relationship, not just a one-way business transaction. We provide ongoing advise and counsel to help you succeed.

Cetan Funds offers loans for nearly any business and investment goal, including:

  • Residential Construction
  • Commercial Construction
  • Residential Term
  • Commercial Term
  • Fix & Flip Rehab Loans
  • Acquisition & Development
  • Bare Land and Lot Loans
  • Lines of Credit

We can offer a loan product for nearly any situation. For more information, please contact us.


NMLS ID 1584481

Year Established



  • Home Builders Association of Lane County - Associate Member
  • Commercial Investment Division - Member

Office Locations

Cetan Funds
72-c Centennial Loop, Eugene, Oregon 97401

Primary Capital Source

  • Individual Investors
  • Private Equity Funds

Alternative Capital Sources

  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet
  • One Investor One Loan
  • Table Funding with Capital Partner

Alternative Loan Structures

  • Multiple Investor Fractionalized Note
  • LLC Syndicated Investors
  • Multiple Lender Participation
  • A/B Note Participation with Bank

Percentage of company’s lending business focused on private mortgage


Company’s Other Business Activities Besides Private Mortgage Lending

  • Residential Mortgage Brokerage
  • Business Finance
  • Note Investing

Percentage of Loans Secured by Commercial Property


Percentage of Loans Secured by Residential Property


Percentage of Residential Property Loans Which are Fix and Flip


Percentage of Residential Property Loans Which are Buy and Hold


Percentage of Loans Secured by Land


Total Number of Loans Funded to Date


Total Loan Volume Funded to Date


2017 Number of Loans Funded


2017 Loan Volume Funded


Mary B. Merriman



Mary is a native Oregonian, with 35 years of commercial and consumer lending experience, 20 of which she spent working in executive leadership roles. A visionary and strategic leader, Mary most recently worked as the SVP/Chief Credit Officer at a community bank in Oregon, where she developed strong relationships with clients and stakeholders. She is responsible for the day-to-day operations of the fund, including loan origination and servicing as well as company administration. She holds a B.A. in Business Administration from the University Oregon.

License Information
NMLS MLO - 811599

David W. Yett


David brings over 25 years of media and technology experience to Cetan Funds. He has held a variety of senior product and business development roles for fast-moving technology companies like Netscape, Macromedia (acquired by Adobe), and Audible (a division of Amazon). David leverages his experience launching and managing multi-million-dollar software projects to create best-in-class financial services for Cetan Funds’ clients. He is responsible for technology, marketing and investor relations.

Steven R. Yett


Over the last 20 years, Steven has developed and managed several commercial properties in Lane County and currently manages over 400,000 sq ft of retail, office, warehouse and residential space valued at over $60 million. Steven is a licensed commercial Real Estate broker and holds a B.S. from the University of Oregon, where he majored in Finance & Accounting. He is responsible for business development.

License Information
NMLS MLO - 1577809

Zach D. Smith

Associate & Loan Officer

For the last 10 years, Zach has been an entrepreneur and small business owner of several businesses in Eugene and Springfield. Through these experiences, he has gained valuable insight into nearly every aspect of running and rapidly expanding a successful business, including the utmost value of integrity, loyalty and excellent customer service. Zach also has a passion for real estate investing, and looks forward to serving Oregon real estate investors, developers and builders to help Oregon grow. Zach is a licensed mortgage loan originator in Oregon and is responsible for Cetan Funds’ business development, as well as loan origination, underwriting, processing and servicing. He holds a B.A. from the University of Oregon, where he graduated with honors in Psychology and Business Administration.

License Information
NMLS MLO - 1748167

Completed Transactions

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.


At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)


Requested loan amount divided by the purchase price + rehab/construction costs


If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.


(temp use, storage, billboard, parking, etc.)


Requested loan amount divided by the purchase price + rehab/construction costs


If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.


how will the loan be paid off?


Add links to photos here.


Add links to photos here.

Photo Link

Add links to documents, photos, etc.

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