Interest Rates starting at 8.75%, up to 80% LTV. Black Square's bridge loan is specifically designed for Chicagoland investors that are in the business of buying and rehabilitating 1-4 single family homes and multi-family 5-20 units in and around Chicago, IL.
Offered in conjunction with Black Square's residential bridge loan, Black Square offers up to 100% of the estimated rehab costs to help the seasoned, Chicagoland real estate investor augment their equity and complete more deals.
Black Square provides your ground up construction financing to see your project from ground zero through completion. Interest rates starting at 9.5%, up to 65% LTV and 100% of planned construction costs.
Ensure your financial backing and reduce the funding time by completing our pre-approval process.
Submit your loan request through our website or directly with a Black Square specialist.
We will analyze your loan request and guide you through our in house underwriting process.
Once your loan is approved by the Black Square team members, we can close within 48 hours.
600 W. Jackson Boulevard
Suite 100
Chicago, IL 60661
312-724-8785
807 E South Temple
Suite 200
Salt Lake City, UT 84102
801-364-4375
Black Square is a finance company committed to providing mortgage debt financing to experienced investors who are in the FIX and FLIP and the FIX and RENT business.
Black Square offers 15 to 24 month Bridge loans on non-owner occupied residential properties that will be renovated and flipped or held for rental. We provide the experienced investor an avenue in which they can leverage their own money to do more deals.
Black Square offers the rehabilitation loan in conjunction with the residential bridge loan to help the seasoned real estate investor augment their equity in order to complete more deals.
Black Square will lend on a wide range of single family residences. These include non-owner occupied single family homes, duplexes, triplexes, four-plexes, townhomes, and condominiums.
Black Square will also lend on Multi-Family properties, 5 - 20 units.
Black Square specializes in the Illinois marketplace, but offers financing in multiple states across the United States.
Black Square’s sole focus is to provide lending solutions to the experienced residential investor. Because Black Square offers commercial loans we are able to base our underwriting on the asset and the borrower’s experience allowing us to approve loans that traditional lenders won’t touch. We offer a streamlined, in-house underwriting process with no tax return requirements.
There is no limit to the number of bridge loans a borrower can have with Black Square.
To qualify for Black Square’s Bridge loan the purchase price of the property must be at least $95,000.
A qualifying rehabilitation must not exceed 100% of the purchase price.
The total combined loan amount must be at least $150,000.
The bridge loan, also known as "hard money", offers real estate investors with short-term financing to achieve their fix and flip goals. With rates starting at 8.75% and advances up to 80% of the purchase price, the residential bridge loan has been designed to aide investors to leverage their capital to the fullest.
The rehabilitation loan offers financing up to 100% of the rehab costs to provide investors enough funds to complete their fix and flip projects. This program will further leverage investor's capital to complete more deals and reach their personal and business goals.
The ground up construction loan offers financing up to 65% of the purchase price as well as 100% of the new construction costs. This program allows investors to build up to 20 unit buildings.
Black Square requires that the borrower is a registered entity. This may be a LLC or Corporation.
