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%

Max Loan-To-Cost

95%

Origination Fees

3% to 4%

Loan Terms

6 months to 36 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
  • Condo Conversion
  • Reverse 1031 Exchange
  • Partner Buyout
  • Subdivisions

Agribusiness Loan

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land
  • Agricultural Land
  • Special Purpose Land

Will Consider Land That is NOT Entitled

yes

Max LTV for Land

65%

Max LTC for Land Acquisition

80%

Purchase Loan

Max Loan-To-Purchase Price

100%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

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

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

1

Maximum After Repair Value

75.00%

Construction Loan

Development Experience Required

no

Minimum Number of Ground-Up Construction Projects Completed by Borrower

0

Max LTC for Ground-Up Construction Costs

95%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

5

Works 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

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will 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

Sometimes

Credit Check Required

yes

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Multi-Purpose Lender Fee

$850.00 to $850.00

Administrative Fee

Inspection Fee

Construction site inspection 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 – Build Wealth through Real Estate

Cetan Funds is a real estate loan originator and private money lender in Oregon. We are based in Eugene and offer our services throughout the state for real estate developers, builders, and investors. Our team has over 40 years of local lending experience, as well as nearly 30 years of experience in local real estate development, giving us a unique perspective on the needs of professional borrowers in Oregon.

As your preferred private money lender in Oregon, you can count on us to offer the guidance and support you need. We are committed to your success and forming a reliable, long-term partnership. As you pursue your goals now and in the future, Cetan Funds is here to help you succeed.

The Cetan Advantage is what makes us stand out from any other private money lender in Oregon. We adhere to the following principles to ensure a positive experience for our clients:

EXPERTISE

Leverage our 60+ years of lending and real estate development experience in Oregon to shape the right loan for you and get the help you need when you need it if your project hits a snag.

PARTNERSHIP

Build a relationship with us. We’re ready to be your long-term funding partner and help you with multiple projects. Count on us to be creative and responsive.

EFFICIENCY

Fast, in-house valuations. Get an underwriting answer in 2 – 4 days and fund it quickly — often as fast as 7 days. We value prompt response times and get you the answers you need as quickly as possible.

FLEXIBILITY

Receive a loan tailored to your needs. We know that projects change, so we adapt and provide loan terms that fit your situation.

INTEGRITY

We’re with you every step of the way to ensure mutual success. We operate with a culture of transparency and fairness. We’ll always have your back.

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

Company Size (Number of Employees)

6

Year Established

2017

Associations

  • Home Builders Association of Lane County - Associate Member
  • Commercial Investment Division - Member
  • Oregon Real Estate Investors Association - Vendor Member
  • Northwest Real Estate Investors Association - Vendor Member
  • Eugene Association of Realtors - Affiliate Member
  • Springfield Association of Realtors - Affiliate Member
  • Oregon Mortgage Association - Member

Office Locations

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

Primary Capital Source

  • Private Equity Funds

Alternative Capital Sources

  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Multiple Lender Participation

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Commercial Mortgage Brokerage
  • 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

50%

Percentage of Residential Property Loans Which are Buy and Hold

20%

Percentage of Loans Secured by Land

20%

Percentage of Residential Property Loans Which are Ground-Up Construction

30%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

-1%

Total Number of Loans Funded to Date

111

Total Loan Volume Funded to Date

$35,000,000

2017 Number of Loans Funded

12

2017 Loan Volume Funded

$2,000,000

2018 Number of Loans Funded

24

2018 Loan Volume Funded

$9,000,000

2019 Number of Loans Funded

43

2019 Loan Volume Funded

$12,000,000

Mary B. Merriman

Principal

CEO

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

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 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

Kim Voorhies

Office Administrator

Kim is a native to Eugene, Oregon that started her 30 year career in the financial industry at a local community bank. She has held a variety of positions in banking that include Loan Accounting Supervisor and most recently, Assistant Loan Operations Manager. In addition to banking, Kim worked for several years at a local government agency assisting borrowers with Small Business Administration and Economic Development loans. Kim enjoys working with clients and helping them achieve their goals. She is responsible for processing, servicing and office administration.

Completed Transactions

Cetan Funds

Private Loan Funding
Springfield, OR
$125,000
Single Family Residence

Refinance

Cetan Funds

Private Loan Funding
Medford, OR
$255,000
Single Family Residence

Residential Fix and Flip

Cetan Funds

Private Loan Funding
Springfield, OR
$90,000
Single Family Residence

Residential Fix and Flip

Cetan Funds

Private Loan Funding
Klamath Falls, OR
$410,000
Multifamily

Commercial Property Value Add

Cetan Funds

Private Loan Funding
Lincoln City, OR
$200,000
Single Family Residence

Residential Ground-Up Construction

Cetan Funds

Private Loan Funding
Eugene, OR
$250,000
Single Family Residence

Residential Fix and Flip

Cetan Funds

Private Loan Funding
Eugene, OR
$700,000
2-4 Units Residential, Single Family Residence

Purchase

Cetan Funds

Private Loan Funding
Bend, OR
$130,000
Residential Land

Purchase

Cetan Funds

Private Loan Funding
Eugene, OR
$1,600,000
Portfolio of Residential Properties, Residential Land, Single Family Residence

Residential Ground-Up Construction

Cetan Funds

Private Loan Funding
Eugene, OR
$175,000
Single Family Residence

Residential Ground-Up Construction

Cetan Funds

Private Loan Funding
Eugene, OR
$625,000
Storage Facility

Commercial Ground-Up Construction

Before You Contact Us

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

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
%
months

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

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

$
$
$
$
$
$
$
%

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

$
%
$
$
%

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

$
$
$
$
$
$
$
%

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?

acres

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1
1
acres

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