Welcome to Whitecap

Experienced Commercial Finance

Here, at Whitecap Lending, we provide strategic financial services to businesses that need working capital to help them grow. Through our extensive product line, we will find the loan type that best suits your business. Our team of experienced finance professionals work diligently to provide you multiple options for your funding needs at the most competitive rates and terms.

Whitecap Lending also provides commercial property financing options along with hard money loans in the real estate sector.

Consultations are always free, so call us today at (800) 226-9041!

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What We Help Fund

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Business Lending

Equipment Leasing:

The equipment leasing market is a fast growing segment of the commercial lending market. All companies must invest in equipment to grow their business and to improve their company’s overall efficiency. Equipment financing or leasing is an ideal way for corporations to purchase new equipment without investing a significant amount of capital upfront.


Accounts Recievable Factoring:

With the challenging economic environment, Accounts Receivable Factoring has become an important option for many small and medium companies. By offering Accounts Receivable Factoring services, we can help you alleviate short-term cash flow shortages by enabling you to use your Accounts Receivable as security for short-term lines of credit or cash.


SBA Loans:

SBA provides loans for people who are looking to start a business or expand an existing business. SBA participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan.


Business Lines of Credit:

A Business line of credit is offered like a credit card for businesses for a lot of different reasons. A business will have a predetermined amount of credit with one of our banks and can use it over time as needed for working capital. Collateral is not usually required unless the business has poor credit when they apply. The amount issued for a business line of credit depends on the business’s credit rating and cash flow.

Commercial Purchase

A commercial mortgage is a loan made using real estate as collateral to secure repayment.

A commercial mortgage is similar to a residential mortgage, except the collateral is a commercial building or other business real estate, not residential property.

In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers. The borrower may be a partnership, incorporated business, or limited company, so assessment of the creditworthiness of the business can be more complicated than is the case with residential mortgages.

Some commercial mortgages are nonrecourse, that is, that in the event of default in repayment, the creditor can only seize the collateral, but has no further claim against the borrower for any remaining deficiency. The general reason for this is twofold: many laws significantly prevent the creditor from going after the borrower for any deficiency, and mortgages structured for sale as bonds give a higher priority to constantly receiving some sort of income and therefore require a clause which allows the lender to take the property immediately, regardless of bankruptcy proceedings that the borrower might be going through.

Frequently, the mortgage is supplemented by a general obligation of the borrower or a personal guarantee from the owner(s), which makes the debt payable in full even if foreclosure on the mortgaged collateral does not satisfy the outstanding balance.

Hard Money Loan

A hard money loan is a specific type of asset-based loan financing in which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.

Many hard money mortgages are made by private investors, generally in their local areas. Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the maximum loan to value ratio is 65-70%. That is, if the property is worth $100,000, the lender would advance $65,000-70,000 against it. This low LTV provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.

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We can handle any of your companies lending needs throughout North America. Let‘s build your company together!

Whitecap Lending Group

Myrtle Beach South Carolina

813-618-8871

Hours

Mon

9:00 am – 5:00 pm

Tue

9:00 am – 5:00 pm

Wed

9:00 am – 5:00 pm

Thu

9:00 am – 5:00 pm

Fri

9:00 am – 5:00 pm

Sat

Closed

Sun

Closed