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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
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 $2,000,000
Interest Rates
10% to 12%
Max Loan-To-Value
75.00%
Max Loan-To-Cost
95.00%
Origination Fees
2% to 4%
Loan Terms
6 months to 35 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
- 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
- Condo Conversion
- Note Purchase
- Reverse 1031 Exchange
- Partner Buyout
- Subdivisions
Land Loan
Land Types Considered
- Residential Land
- Multifamily Land
- Industrial Land
- Office Land
- Retail Land
- Hospitality Land
- Agricultural Land
Will Consider Land That is NOT Entitled
yesMax LTV for Land
65.00%Max LTC for Land Acquisition
80.00%Purchase Loan
Max Loan-To-Purchase Price
100.00%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed 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
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
1Maximum After Repair Value
75.00%Construction Loan
Development Experience Required
noMinimum Number of Ground-Up Construction Projects Completed by Borrower
0Max LTC for Ground-Up Construction Costs
95.00%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
yesDetails and Requirements
Typical Closing Time (Days)
10Fastest Closing Time (Days)
5Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
- Interest Reserve
Pre Payment Penalty
yes
Typical prepayment term is 6 months with a prepayment fee of 1%.Will lend to a foreign national
no
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
yesWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
no
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
SometimesCredit Check Required
yesAppraisal Required for Residential Property
SometimesAppraisal Required for Commercial Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
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
$2,000
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:
LOCAL
- 40+ years of local lending and development experience throughout Oregon, including Portland, Salem, Eugene, Bend, Medford and much more.
SPEED
- Streamlined process can fund deals in 3-5 days
FLEXIBLE
- We evaluate each project by looking at the whole story and customize the loan package with the right fit
COMMUNICATION
- Work directly with Cetan Funds principals, avoid the layers of bureaucracy
SMART LOANS
- Customized loan packages based on project viability that leverage our strong local market knowledge and extensive experience as lenders and developers
VESTED IN YOUR SUCCESS
- 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:
- Fix & Flip Rehab Loans
- Ground-up Construction (residential and commercial)
- Investment Property Bridge Loans (residential and commercial)
- Short-term Refinances (rate/term & cash-out)
- Land Acquisition & Development
- Bare Land and Lot Loans
We can offer a loan product for nearly any situation. For more information, please contact us.
License
NMLS ID 1584481
Year Established
2017
Associations
- Home Builders Association of Lane County - Associate Member
- Commercial Investment Division - Member
Office Locations
Cetan Funds72-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
100%
Company’s Other Business Activities Besides Private Mortgage Lending
- Residential Mortgage Brokerage
- Business Finance
- Note Investing
Percentage of Loans Secured by Commercial Property
25%
Percentage of Loans Secured by Residential Property
75%
Percentage of Residential Property Loans Which are Fix and Flip
20%
Percentage of Residential Property Loans Which are Buy and Hold
50%
Percentage of Loans Secured by Land
20%
Total Number of Loans Funded to Date
19
Total Loan Volume Funded to Date
$8,000,000
2017 Number of Loans Funded
12
2017 Loan Volume Funded
$5,000,000

Mary B. Merriman
Principal
CEOMary 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 InformationNMLS MLO - 811599

David W. Yett
Principal
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
Principal
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 InformationNMLS 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 InformationNMLS MLO - 1748167
Completed Transactions
Cetan Funds
Springfield, OR
$125,000
Refinance
Cetan Funds
Medford, OR
$255,000
Residential Fix and Flip
Cetan Funds
Springfield, OR
$90,000
Residential Fix and Flip
Cetan Funds
Klamath Falls, OR
$410,000
Commercial Property Value Add
Cetan Funds
Lincoln City, OR
$200,000
Residential Ground-Up Construction
Cetan Funds
Eugene, OR
$250,000
Residential Fix and Flip
Cetan Funds
Eugene, OR
$700,000
Purchase
Cetan Funds
Bend, OR
$130,000
Purchase
Cetan Funds
Eugene, OR
$1,600,000
Residential Ground-Up Construction
Cetan Funds
Eugene, OR
$175,000
Residential Ground-Up Construction
Cetan Funds
Eugene, OR
$625,000
Commercial Ground-Up Construction
Our Minimum Loan Amount Is
$50,000
What We Do
- Investment Properties in Oregon
- Bridge, Rehab & Construction Loans
- Bare Land
Not Available
- NO 100% Financing
- NO Cannabis or Hemp Properties
Loan Request
Our Minimum Loan Amount Is
$50,000
What We Do
- Investment Properties in Oregon
- Bridge, Rehab & Construction Loans
- Bare Land
Not Available
- NO 100% Financing
- NO Cannabis or Hemp Properties