Gap funding, often overlapping with bridge lending, provides the capital that fills the space between what a primary (senior) loan covers and the total funds a deal requires, frequently the down payment, renovation reserve, or the difference between purchase-plus-rehab cost and a hard money...
Log in to followAn operator I've done business with before wants 65k behind a 480k senior on a 7 unit. Three units are offline, plan is to finish them, season the rents about four months, and ref…
I've been reading gap deals for a few months without funding one, and the two lenders I've talked to sort the world in opposite ways. The first one underwrites the collateral almo…
I've got a set amount I'm willing to put into private lending this year and I keep going back and forth on which seat teaches me more. Option one is small gap pieces behind other…
I've been reading a gap funding term sheet that a lender publishes as an example, and two lines on the same page seem to point in different directions. One says the loan is secure…
Bridge and construction has been the fastest growing corner of private credit for a while now, something above 12 percent a year in what I've read, and the demand side makes sense…
I've been reading gap funding from both ends because I'll probably need it before I ever lend it, and the two versions of the protection story don't line up. Version one is that t…
Reading a junior participation draft where the standstill runs 120 days from the senior's default notice. During that window I can't accelerate, can't start any enforcement, can't…