Property Improvement Plan ( PIP )
Benefits of using Property Improvement Plan (PIP financing):
1. 100% financing if you have adequate equity in the existing property.
2. Can be used to renovate the interior or exterior of your investment .
3. Purchase new equipment, renovate your property or purchase inventory .
4. Add additional rooms to your hotel or increase the size of your tunnel car wash
5. Expand or improve existing parking.
6. Bring the building up to meet City code due to past changes in City requirements
7. Other items may qualify but not listed – contact us with specifics and we can inform you if your improvement will qualify.
8. Typical loan amount ranges from $500 K up to $2 M (legal total limit is $5 M.) If the loan exceeds $2 M it may be wise to refinance the original loan and include the improvements. Please contact us for specific details for your property. If requested, we will provide you with a free loan review and pre-approval at no cost or obligation.
PIP loans are a great tool to finance improvement needed to remain competitive with your competition.