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Creative Private Lender for Commercial Real Estate
Gelt Financial is a direct portfolio lender based in South Florida. We have been in business since 1989, offering non-bank loans for commercial and residential real estate investors. Deal direct with the decision makers who can approve and close your loan fast. No loan committees. We are common sense private lenders. In it’s lifetime, Gelt Financial has closed over 10,000 loans. Gelt does not shy away from complicated and difficult financing situations. We are eager and confident to tackle any obstacle that comes our way.
- Deal directly with the decision makers
- Credit problems understood
- No income verification
- Fast approvals and closings
- Flexible lending to meet your needs
- Collateral based
- Mezzanine and Subordinated Debt
- Preferred Equity and Partnership Programs
- Foreclosure or Debtor in Possession OK
- No look back on previous foreclosures or BK
- Non-recourse lending
- Mortgage brokers are protected
Please note: we do not offer loans for land, ground-up construction or residential properties.
Property Geographic Area Details
Most states in the East Coast, South and Midwest
Loan Amounts
$100,000 to $10,000,000
Interest Rates
9.5% to 13%
Max Loan-To-Value
65%
Max Loan-To-Cost
100%
Origination Fees
2% to 5%
Loan Terms
12 months to 60 months
Lien Position
- 1st
- 2nd
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Value Add Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
- Owner Occupied Commercial
Property Types and Loan Types
Collateral Types
- Commercial Property
- Commercial Property Ground Lease
Property Types
- Car Wash
- Commercial Condominium
- Condominium
- Gas Station
- Hotel
- Industrial
- Manufactured Home
- Mobile Home
- Mobile Home Park
- Motel
- Multifamily
- Office
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- Retail
- Storage Facility
Loan Types
- Commercial Bridge
- Commercial Property Value Add
- Mezzanine
- Preferred Equity
Specialty Loan Types
- 2nd Mortgage Equity Cash Out
- Condo Conversion
- Note Purchase
- Partner Buyout
- Discounted Note Payoff
- Bankruptcy Resolution
- Foreclosure Bailout
- Commercial Permanent Financing
- Primary Residence Business Purpose Cash Out
- Debtor in Possession
Junior Liens
Junior Lien Loan Amounts
$500,000 to $10,000,000
Junior Lien Interest Rates
12% to 20%
Junior Lien Loan-to-Value
85%
Junior Lien Loan-to-Cost
100%
We Fund Junior Position Loans
Often
Junior Lien Types
- Purchase
- Refinance
- Equity Cash Out
- Mezzanine
- Preferred Equity
Purchase Loan
Max Loan-To-Purchase Price
100%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
noWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Subject Property
- Equity in Another Investment Property
- Seller Financing
- Gap Lender
Rehab Value Add Loan
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
2Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
5Details and Requirements
Typical Closing Time (Days)
15Fastest Closing Time (Days)
7Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Pre Payment Penalty
yes
Typically 9-month lock-outWill lend to a foreign national
yes
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
- Corporation
Documentation Required
- Credit Report
- Tax Returns
- Bank Statements
- Financial Statements
- Loan Application
Personal Guaranty (Recourse) Required
SometimesWe will do non recourse deals
Credit Check Required
yesCredit Check Description
No minimum credit score required, but we have to check credit.Appraisal Required for Commercial Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
Due Diligence Fee
$1,000.00 to $10,000.00
Underwriting Fee
$750.00 to $5,000.00
Processing Fee
Legal Fee
Actual outside attorney costs
Appraisal Fee
Actual appraisal fee
Minimum Origination Fee Amount
$5,000
Fees which are mandatory for all new borrower clients
- Due Diligence Fee
Fees which are charged upfront prior to loan closing
- Due Diligence Fee
Fees which are paid to a third party company
- Legal Fee
- Appraisal Fee
- Title Fee
Gelt Financial, LLC (“Gelt”) is a Balance Sheet commercial lender satisfying its clients financial needs and goals since 1989. Gelt’s robust commercial product offerings are available across the country to US Citizens and Foreign Nationals. We focus on loans between $100,000 and $20 million. We also have a portfolio product which we offer to real estate investors and commercial property owners, including Bridge loans, foreclosure bailout’s, no income verification , property only verification, foreign nation loans, no appraisal and non recourse loans, JV Equity and loans with credit problems. We offer preferred equity and recapitalization’s to existing commercial real estate partnerships. “When your Bank says no, We say YES!”
Year Established
1989
Office Locations
5300 West Atlantic Avenue, Suite 205, Delray Beach, Florida 33484Primary Capital Source
- Own Funds
- Individual Investors
- Family Offices
Alternative Capital Sources
- Individual Investors
- Family Offices
- Private Equity Funds
Loan Structure for Majority of Loans
- Own Balance Sheet
Alternative Loan Structures
- One Investor One Loan
Percentage of company’s lending business focused on private mortgage
100%
Company’s Other Business Activities Besides Private Mortgage Lending
- Commercial Mortgage Banking
- Commercial Real Estate Investing
Percentage of Loans Secured by Commercial Property
100%
Total Number of Loans Funded to Date
11000
Total Loan Volume Funded to Date
$1,000,000,000

Jack Miller
President & Founder
Jack founded Gelt Financial in 1989 out of a dream and passion, through hard work, commitment, and boundless energy built it and has been the driving force ever since. Along the way has started many other companies including starting a title, appraisal companies, property management companies, co-founded an equipment leasing company, as well financed and owned a company that invested in tax liens just to name a few. Jack also has become a national expert and investor in commercial real estate.
Our Minimum Loan Amount Is
$100,000
What We Do
- Commercial Real Estate Only
- 100% LTP for Below Market Acquisitions
- LTV up to 65%
- Junior Liens - 2nd Mortgage Cash Out
- Foreclosure Bailout
Not Available
- NO Rural Areas
- NO Land or Construction Loans
- NO Hotels or Assisted Living
- NO Specialty Property Types
- NO Residential Properties