Direct Lender for Real Estate Investors in the Northeast & Mid-Atlantic Regions

Lines of Credit- Maintain constant access to the cash you need for working capital, growing your real estate portfolio, or fixing and flipping properties.

Bridge Loans- Quickly close on a property, save real estate from foreclosure, or take advantage of a short-term opportunity prior to securing long-term financing.

Construction Loans- Obtain the essential construction funding you need for both ground-up and renovation projects.

Mini-Perm- Need longer term financing? Commonwealth can do a term as long as 5 years with amortization options.

Please note: we do NOT offer loans for raw land or owner-occupied homes.

Property Geographic Area Details

We lend in 8 states: DC, DE, CT, MD, PA, NJ, NY, VA

Loan Amounts

$100,000 to $2,500,000

Interest Rates

12% to 15%

Max Loan-To-Value

65.00%

Max Loan-To-Cost

80.00%

Origination Fees

2% to 4%

Loan Terms

1 months to 60 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

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Bed and Breakfast
  • Cannabis Dispensary
  • Cannabis Grow Facility
  • Car Wash
  • Casino
  • Child Day Care
  • Cinema
  • Club
  • Commercial Condominium
  • Community Center
  • Condominium
  • Cooperative
  • Equestrian
  • Event Center
  • Gas Station
  • Golf Course
  • Gym
  • Healthcare
  • Hospital
  • Hostel
  • Hotel
  • Industrial
  • Marina
  • Mixed-Use
  • Mobile Home Park
  • Motel
  • Multifamily
  • Night Club
  • Office
  • Place of Worship
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • RV Park
  • Recreational
  • Rehabilitation Facility
  • Religious Facility
  • Retail
  • School
  • Senior Housing
  • Sports Facility
  • Storage Facility
  • Student Housing
  • Theater
  • 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

  • Residential Long-Term Rental
  • Note Purchase
  • Partner Buyout
  • Discounted Note Payoff
  • Bankruptcy Resolution
  • Foreclosure Bailout
  • Line of Credit Single Property
  • Line of Credit Portfolio of Properties
  • Cannabis Use Properties
  • Residential Non-Prime
  • Debtor in Possession

Purchase Loan

Max Loan-To-Purchase Price

65.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

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
  • Seller Financing
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

2

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

80.00%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

1

Maximum After Repair Value

65.00%

Construction Loan

Development Experience Required

no

Minimum Number of Ground-Up Construction Projects Completed by Borrower

0

Max LTC for Ground-Up Construction Costs

80.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

21

Fastest Closing Time (Days)

5

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Amortized
  • Interest Reserve

Pre Payment Penalty

no

Will lend to a foreign national

yes

No Prepayment penalty

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
  • Self-Directed IRA

Documentation Required

  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

no

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Site Visit Fee

$0 to $0

Legal Fee

Fees which are mandatory for all new borrower clients

  • Deposit
  • Legal Fee
  • Appraisal Fee
  • Title Fee

Fees which are charged upfront prior to loan closing

  • Deposit
  • Appraisal Fee

Fees which are paid to a third party company

  • Legal Fee
  • Appraisal Fee
  • Title Fee

Commonwealth Capital provides real estate secured financing (short-term bridge and mini-perm loans) for businesses and real estate investors that do not qualify for traditional bank credit or need a rapid response.

Since our founding in 2010, we have funded over $100 million in small balance commercial real estate loans, representing more than 300 transactions.

We use a common-sense approval process, free from the headaches of a traditional bank lender. We take pride in being able to offer real estate owners creative loan structures as well as direct access to the decision makers responsible for financing —professionals who collectively boast more than 100 years of real estate investing experience. This unique accessibility allows for a quick approval and closing process.

We encourage you to learn more about our team and how we can provide the mortgage financing you need.

Company Size (Number of Employees)

10

Year Established

2010

Associations

  • American Associations of Private Lenders
  • Urban Land Institute

Office Locations

Commonwealth Capital- Philadelphia, PA
2 Bala Plaza, Suite 714, Bala Cynwyd, PA 19004

Commonwealth Capital- Baltimore, MD
875 Hollins St, Suite 201, Baltimore, MD 21201

Primary Capital Source

  • Own Funds

Loan Structure for Majority of Loans

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Note Investing

Percentage of Loans Secured by Commercial Property

50%

Percentage of Loans Secured by Residential Property

25%

Percentage of Residential Property Loans Which are Fix and Flip

5%

Percentage of Residential Property Loans Which are Buy and Hold

50%

Percentage of Commercial Property Loans Which are Ground-Up Construction

5%

Percentage of Residential Property Loans Which are Ground-Up Construction

10%

Total Number of Loans Funded to Date

300

Total Loan Volume Funded to Date

$100,000,000

2017 Number of Loans Funded

28

2017 Loan Volume Funded

$12,000,000

2018 Number of Loans Funded

37

2018 Loan Volume Funded

$13,500,000

2019 Number of Loans Funded

30

2019 Loan Volume Funded

$15,000,000

Andrew Schmidt

Vice President- Head of Originations & Business and Development

Andrew Schmidt is a Small Balance Commercial Mortgage Specialist with more than 15 years of sales and commercial underwriting experience. Andrew excels at structuring real estate financing solutions with the goal of solving problems and creating value. Andrew’s experience in commercial lending has exposed him to many business industries nationwide, lending scopes, and asset classes. Andrew graduated from Marist College in Poughkeepsie, N.Y., with a Bachelor of Science degree in Business Administration and Management. He enjoys spending time with his wife and two children and any outside activities including running, biking, surfing, kayaking and skiing.

Chandler Hoopes

President and CEO

Chandler is President and CEO of Commonwealth Capital and is in charge of day-to-day business operations of the company. He is an integral part of credit decisions and oversees origination, closing and servicing all transactions. As the one responsible on a daily basis for all accounts, Chandler works hard to ensure complete client satisfaction and flawless execution. Prior to joining Commonwealth Capital in August of 2013, Chandler was a member of the Real Estate Finance team at Firstrust Bank in Philadelphia, PA. Chandler graduated from Bucknell University and is actively involved in several alumni organizations. Chandler also serves on the Board of Directors of Baker Industries, a Philadelphia organization that provides jobs and work force training for vulnerable adults in the region, and on the advisory board of Peter’s Place, a support center for children who have lost a parent or loved one. He is an avid skier and can often be found on the slopes.

Alex

Benoit

Alex is Chief Lending Officer of Commonwealth Capital and is in charge of underwriting and closing new transactions. He heads the underwriting committee and manages the process from initiation through closing. Alex works closely with all parties to ensure transparency and responsiveness in the closing process, striving to be as efficient and effective as possible. Prior to joining Commonwealth Capital in August of 2015, Alex was an analyst at a financial advisory firm in Philadelphia, PA. Alex graduated from Bucknell University with a Bachelor of Science in Business Administration and Management, and a minor in Philosophy. He actively volunteers for non-profit organizations such as Percent Pledge and Baker Industries. He is a member at Applebrook Golf Club and also enjoys playing pickup basketball a few nights a week in his spare time.

Kevin Kane

Vice President, Portfolio Management

As Vice President at Commonwealth, Kevin is responsible for overseeing the loan portfolio including administration, management, strategy, and implementation of new projects or growth initiatives. He brings more than 23 years of experience to Commonwealth. Prior to joining Commonwealth, Kevin worked at a Philadelphia-based foreclosure firm resolving sophisticated disputes and litigation, particularly in the title insurance and real estate industries. He graduated from Temple University with a Bachelor of Arts in Political Science and earned his Juris Doctor from Roger Williams School of Law.

Seth

Broder

Prior to the merger between Oak Leaf Financial, LLC and Commonwealth Capital, LLC, Seth N. Broder was the Executive Vice President and General Counsel of Oak Leaf Financial since 2003. At Commonwealth Capital, LLC, Seth serves as General Counsel. He is responsible for all of the legal services for the company including engaging with outside counsel, loan workouts and participant relations. In addition to his position with Commonwealth Capital, LLC, Seth is the Managing Attorney of Broder Law Group, P.C., and oversees the firm’s private lending practice. He has often been recognized as an Awesome Attorney by his peers and is active in various professional committees and organizations. Seth received a Bachelor of Arts degree from the University of Delaware and his Juris Doctorate degree from the Ohio Northern University School of Law.

License Information

Jack Hoopes

Co-Chairman

Jack serves as Co-Chairman of Commonwealth Capital, responsible for the overall strategic vision for the company, and is a standing member of the credit committee. A graduate of Bucknell University, he was a serial entrepreneur during his earlier working years. He owned and operated, either in whole or in partnership, 27 different enterprises. His business interests included banking, venture capital, real estate development and brokerage, commercial finance, insurance, mortgage origination, beverage distribution, restaurants, energy services, sporting goods and others. This diversity makes him particularly adept at evaluating and understanding the diverse needs of Commonwealth clients. Jack’s last engagement was as chairman of Penn Business Credit in Philadelphia, Pa. The business was sold to Fulton Bank in 2005. Jack stayed on with the bank and served as Chief Asset Based Lending Officer at the bank-holding company level. Prior to that, Jack served as Chairman and CEO of United Valley Bank in Philadelphia, Pa. The bank and its related subsidiaries were sold to Jefferson Bank in 1996. Jack has served as President of the Chester County, Pa. Board of Realtors; President of the United Way of Chester County, Pa.; and President of the Philadelphia Chapter of the Risk Management Association, an association of bank lenders and credit officers. Jack joined the Young Presidents Organization in 1983, matriculating to the World Presidents Organization, where he served as Chapter Chair of the Philadelphia Chapter in 2002-2003 and Chapter Chair of the Southwest Florida YPO Gold Chapter from 2017-2018.

Don Young

Co-Chairman

A native Philadelphian, Don graduated with a Bachelor of Science degree in Business Administration from Drexel University. He started his business career in the packaging industry and ultimately led Marketing and Sales for Simkins Industries. In the mid-1980s, he diversified his interests by becoming an investor in multi-family real estate in Alexandria, VA, and continued with real estate investments throughout New Jersey. By the early 2000s, he saw the need for a lender that would finance commercial real estate for borrowers who could not qualify for bank financing due to the strict guidelines of the banking industry. Seeing this as an opportunity, in 2002 he founded Oak Leaf Financial, which merged with Commonwealth Capital in 2018. Don is now Co-Chairman of the firm.

Completed Transactions

Commonwealth Capital

Private Loan Funding
Montgomery County, PA
$750,000
Hotel, Motel

Purchase

Commonwealth Capital

Private Loan Funding
Burlington County, NJ
$600,000
Multifamily

Commercial Ground-Up Construction

Commonwealth Capital

Private Loan Funding
Bucks County, PA
$650,000
Mixed-Use

Purchase

Commonwealth Capital

Private Loan Funding
Essex County, NJ
$2,000,000
Healthcare, Office

Purchase

Successful closing working with a mortgage Broker

“Commonwealth Capital’s team of professionals consistently utilizes and demonstrates logic, care, and compassion. They are willing to talk about virtually every adverse credit issue in order to grasp a true understanding of the cause(s) and participate in the solution(s) throughout the entire lending process.”

L.C. | BROKER

Philadelphia, PA

Legal Council for a borrower was able to work with Commonwealth for a successful refinance

“Commonwealth Capital stepped in for us when other lenders said “no”. Their response to our request was timely and flexible. We are very glad to have found them and happy to recommend them to others.”

R.R. | LEGAL SERVICES

Staten Island, NY

Lines of credit can be a great tool for real estate owners

"After evaluating my financial situation back in 2011 Commonwealth Capital provided the needed funding and cash flow to help my business operate. They listened to my concerns over the past 3 years and tailor made a plan to assist my company during this time of economic uncertainty, when other banks and lending institutions did not wish to get involved.”

J.B. | HEALTHCARE SERVICES

Washington, DC

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
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months

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

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

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

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

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

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how will the loan be paid off?

acres

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