Canadian Funding Corporation |
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Canada |
About Canadian Funding Corporation
Finance and Mortgage Experts
Led by a group of finance and mortgage experts with skills in varying fields, Canadian Funding Corporation uses diverse resources to close deals. Due to its business principle of maintaining close relationships in the industry, Canadian Funding Corporation is able to coordinate and dole out resources that best match each prospective project. Using a large pool of private funds and resources, Canadian Funding Corporation provides loan services in various areas. The firm specializes in construction loans for building business development, bridge loans for short-term financing, renovation loans for property upgrades, and refinance loans for a variety of uses. Drawing from a considerable network of steadfast contacts, Canadian Funding Corporation provides many different loan types to different clients. The team behind Canadian Funding Corporation has added considerably to the firm’s success. President and Founder Moishe Alexander brings forth his borrower-lender matching experience in all deals CFC undertakes, and Moishe’s team of mortgage agents, market valuations managers, and assets and acquisitions experts help carry out lending plans.
Each Project
Canadian Funding Corporation aims to actualize its clients’ project dreams. With each project it undertakes, Canadian Funding Corporation gives clients individualized attention in order to fulfill their plans.
Contributing Back to the Community
Apart from its business success, the team at Canadian Funding Corporation remains dedicated to helping the community through various charitable efforts. A large portion of CFC’s earnings goes to assisting families in Toronto and beyond. Canadian Funding Corporation supports many organizations that help clothe and feed families and assist in job and housing placement, as well.
At a time when other lending institutions are struggling to regain their financial means and the public’s wavering confidence, Canadian Funding Corporation is wielding $75 million in private funds to finance a multitude of enterprising projects. Comprised of real estate and mortgage lending experts enterprising to fund deals that many regular lending institutions tend to disregard, Canadian Funding Corporation engages a network of dependable contacts from all over North America to fund deals from coast to coast. Canadian Funding Corporation (CFC) is renowned for funding difficult transactions that do not necessarily fit traditional institutional guidelines. They pool the resources of their team to assess risk, analyze options, and look at the big picture to recommend funding solutions that most brokers and lenders are often unaware of.
For the past couple of years, the global economic climate has been fraught with financial failures and instability. As the United States scrambled to revive its major lending corporations and recover its footing, the public’s eyes were opened to the pitfalls of poor lending practices. Faced with the catastrophic consequences of their exceedingly lax policies, financial institutions were forced to tighten the reins and curb their lending until they could recoup enough capital to honor their commitments. And as the value of the U.S. dollar plummeted, foreign investors kept a keen eye on real estate opportunities. Among those reaping the benefits of a weaker U.S. dollar were the Canadians, despite the Canadian dollar holding less value than the American dollar. One of the highest volume investors in American real estate, many Canadian citizens own vacation property throughout the United States, and especially in the state of Arizona. Banking on the American dollar to fall further in value, many Canadians sold their real estate to capitalize on an opportunity to enjoy even lower rates when investing anew.
Canadian Funding Corporation utilizes a large pool of private capital to lend out for a wide range of projects. By fostering close relationships with their borrowers, CFC has built a business that aligns their expertise with their clients’ project needs. Canadian Funding Corporation’s assessment process excels at devising creative solutions for a diverse array of undertakings. Included on the list of loan products that Canadian Funding Corporation provides are construction loans, bridge loans, renovation/repositioning loans, and acquisition/refinance/renew loans. Each of these products help stimulate ventures that in turn cultivate economic growth.
Construction loans are designed to financially back building projects, such as erecting a new office building or home. In considering funding such a project, lenders generally take into account whether or not the borrower will be able to pay back the loan on a monthly basis once the construction is completed and the loan has been converted into a normal mortgage. Lenders calculate the borrower’s projected income and their potential expenses once the edifice has been completed to determine the likelihood that they will see their funds returned to them in due time. In addition to this evaluation, lenders typically require a minimum cash injection from the borrower themselves to ensure they are sufficiently invested in their own project. The average loan to cost ratio is about 85% - the lender will provide about 85% of the funds while the borrower is obliged to provide 15% of the funds themselves. With this 15% cushion, lenders can protect themselves from total loss if the project goes under, and borrowers feel more pressure to honor and uphold their end of the agreement. Comparable to construction loans, renovation/repositioning loans tend to fund property construction projects, typically in the form of upgrading the real estate. Canadian Funding Corporation collaborates with developers to pinpoint the best possible strategy for tackling an endeavor with one of their customized solutions.
For projects that need brief and temporary funding until a longer-term solution is secured, bridge loans are best. Often used to reclaim property from foreclosure, quickly close on real estate, or utilize short-term financing to later obtain long-term financing, bridge loans are typically signed for about 12 month periods. These loans are used to bridge the gap between immediate need for funding and lengthy periods of monetary need. Once that longer-term mortgage is secured, it is usually redirected to pay off a bridge loan. Interest rates generally hover around 12-15% and loan to value ratios run at about 65% for commercial property and 80% for residential property. All rates are contingent upon appraised value, and Canadian Funding Corporation guides their borrowers through varying conditions of different agreements so that they may select the best possible package to plan their prospects.
The first step in CFC’s evaluation process involves forming an understanding of the project’s general infrastructure. Canadian Funding Corporation does not accept applications directly from the general public, so applicants must submit their proposals through a licensed mortgage broker, and all funding originating from Ontario must be processed through a licensed Ontario mortgage broker, specifically. All applications must contain the appropriate submissions, including credit checks, valuations, business plans, etc. Once an application has been turned in and reviewed, Canadian Funding Corporation issues a statement outlining terms, conditions, and maximum amount they can commit to the endeavor. All projects financed by Canadian Funding Corporation are approved by their board of directors. CFC begins document collection and information gathering through the licensed mortgage broker to perform their due diligence. The borrower also has opportunity to review the agreement and retain any legal counsel necessary to provide requested documents. Once terms and conditions have been complied with and due diligence is finalized, attorneys are notified, instructions are given, and funds are provided.
Due to a large quantity of private capital, Canadian Funding Corporation enjoys a remarkable amount of flexibility to endow a plethora of acquisition, refinance, or renewal initiatives. CFC lends up to 85% loan to value on properties including but not limited to raw land, development, single and multi-family residential, hotels and motels, restaurants, retail and office buildings, warehouses and light industrial properties, automotive services real estate, and self-storage facilities.The majority of these enterprises are related to real estate acquisition, though many also involve business establishment. All of them are rife with potential for becoming lucrative investments.