Raymond C. Green Companies

About Raymond C. Green Companies

Raymond C. Green Companies (RGC) is a direct portfolio private money lender focusing on providing short-term, 1st trust deed loans secured by Connecticut, New Hampshire, Massachusetts, Rhode Island and Southern Maine real estate. RGC also lends in Florida but is primarily focused on New England with a concentration in the Boston metro area. RGC lends to business owners, real estate investors, local builders and developers only and does not make primary residence loans. RGC was founded over 50 years ago by Raymond C. Green, a certified public accountant and established Boston real estate financier. Since its inception, RGC has funded hundreds of private money loans in the geographic locations where it lends.

RGC recently funded a $3.1 million loan for the construction of fourteen condominium units in West Roxbury, MA.

Loan Programs

RGC funds short-term loans from $100,000 to $7 million to business owners, developers, builders and property investors looking to purchase, refinance, rehab, construct, renovate, or cash-out of non-owner occupied residential property, commercial property and land. RGC’s concentration has always been on New England private money loans and the company has differentiated itself through a number of unique program attributes outlined below.  

Below are a sampling of reasons why a borrower would take out a loan from RGC:

  • The borrower needs to close quickly (most loans close in 5 to 7 days)
  • The borrower has impaired credit, tax liens or judgments
  • The borrower needs an asset based loan and cannot verify income
  • The borrower needs construction, rehab or development financing without the red tape imposed by a bank
  • The borrower needs to avoid or exit a debtor in possession (DIP) scenario
  • Collateral is complex and requires a blanket or unique structure
  • The borrower is a foreign national with no credit history
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Private Money Loan Program Highlights / Guidelines

A private money loan is a short-term loan that usually assists in bridging a borrower from a less favorable situation to a more favorable situation. For example, a borrower may take out a private money loan to pull cash-out of his property to pay off lingering debt and improve a low credit score, so he can refinance into a permanent loan. Real estate collateral is essential to RGC’s program and borrowers without hard commercial real estate or investment residential real estate collateral are not eligible for financing.   

Loan sizes from $100,000 to $7 million

  • Loans secured by non-owner occupied residential real estate, multifamily, mixed-use, retail, office, vacant buildings, other commercial property, condominiums and land
  • No set minimum credit score requirement
  • Loan-to-value (LTV) up to 70%
  • Interest rates are determined case-by-case
  • No occupancy requirement or minimum debt-service coverage ratio
  • Purchase, refinance, rehab, construction, permitted land development, condo conversions, subdivisions, cash-out, DIP scenarios and note purchases
  • 1st lien position loans only
  • 2.00% loan origination fee
  • 4 month to 3 year loan terms
  • Closings can occur in 5 to 7 days
  • Foreign national loans available

The Loan Process

LendVer did not shadow the application or loan process for RGC but its website offers basic information about how to get started. Applicants are encouraged to contact RGC directly for more information or to start an application.

Because of RGC’s low leverage limit and familiarity with the markets where it lends, it is often able to formulate internal property valuations to save time and money for the borrower. Processing, underwriting and loan approval are all done in-house at RGC, further contributing to its efficiency and ability to close in 5 to 7 days.

Pros

  • RGC specializes in construction, rehab, development, subdivision and condo conversion loans which are financing types often overlooked by other lenders.
  • RGC can fund from $100,000 to $7 million in 5 to 7 days.
  • Unique loans are available for foreign nationals, land development and complex collateral structures.
  • RGC has a great industry reputation, has a BBB rating of A+, and its principals have been lending for over 50 years.
  • RGC is a collateral based lender and does not place emphasis on personal credit scores or income.

Cons

  • RGC’s maximum LTV is 70% which eliminates many borrowers in need of higher leverage.
  • RGC only lends in New England and Florida so borrowers in other states cannot take advantage of its competitive programs.

Why Raymond C. Green Companies is the Best

RGC has operated as a premier New England private money lender for over 50 years and has funded hundreds of loans. RGC’s experience in the markets where it lends enables it to close loans in 5 to 7 days; often no appraisal is required and all processing and underwriting is done in-house. RGC offers loan sizes from $100,000 to $7 million, providing capital to borrowers with a wide range of financing needs. RGC is experienced in providing construction, rehab and land development or subdivision loans, and is a great resource for local builders and developers.

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