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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

65.00%

Max Loan-To-Cost

100.00%

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

  • 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

$500,000.00 to $10,000,000.00

Junior Lien Interest Rates

12% to 20%

Junior Lien Loan-to-Value

85.00%

Junior Lien Loan-to-Cost

100.00%

Junior Lien Origination Fees

0% to 5.00%

We Fund Junior Position Loans

Often

Junior Lien Types

  • Purchase
  • Refinance
  • Equity Cash Out
  • Mezzanine
  • Preferred Equity
We offer junior liens for Income producing properties only. On some preferred equity deals, our requested return may be as high as 20%. We will consider charging a higher interest rate to reduce the origination fee.

Purchase Loan

Max Loan-To-Purchase Price

100.00%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Seller Financing
  • Gap Lender

Details and Requirements

Typical Closing Time (Days)

15

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

yes

Typically 9-month lock-out

Will lend to a foreign national

yes

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
  • Corporation

Documentation Required

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

Personal Guaranty (Recourse) Required

Sometimes
We will do non recourse deals

Credit Check Required

yes

Credit Check Description

No minimum credit score required, but we have to check credit.

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

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 33484

Primary 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.

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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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?

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