Here at PLG Commercial Lending our professional goal is to customize our programs to meet the specific needs of our customers, not just fitting you into a one size fits all program, but finding a product that meets your personal, or business needs. We are a multifaceted financial corporation capable of handling all loan sizes, and funding aspects: Home Mortgages (state of Michigan only), and Commercial Loans, such as Hard Money, Conventional, and Stated Income Stated Assets. Simply apply today and receive your approval within 4 hours.

PLG Commercial Lending specializes in lending to middle market companies with credit needs for growth capital, refinancing, recapitalization and turnaround situations. Our team of experienced lenders will assist you in quickly unlocking the working capital hidden in your accounts receivable, inventory and machinery and equipment.

What is asset-based lending?

Asset-based lending (ABL) allows businesses to borrow against their current assets (Real Estate, Precious Gems, Hard Assets in the ground, and above ground)

The business's assets are combined to form an asset pool. The lender applies an advance rate against the value of this pool to determine an amount to lend. The value of the current assets can be determined on a daily, weekly or monthly basis. The timing is dependent upon the borrower's credit worthiness.

Typically all cash proceeds from sales flow to the lender to pay down the current asset loan. As new receivables are provided, the borrowing pool increases again and additional money can be borrowed back to meet working capital needs. New borrowing availability under the accounts receivable line is generated from the sale of goods. Inventory advances are determined by the amount of eligible inventory in the possession of the borrower. The borrower must be able to report inventory levels on a perpetual basis. The value of machinery and equipment is determined by appraisals.

Established companies with proven management, sound assets and well developed financial controls are prime candidates for asset-based lending.

Why use asset-based lending?

Companies using asset-based lending are looking for flexibility. Most borrowers have grown weary of bank restrictions and are seeking funding based on entrepreneurial spirit, good books and records and the strength of collateral. With these parts in place, most asset-based loans are made with few, if any, financial covenants. This flexibility allows the borrower to operate the company to the maximum benefit of the stockholders. This includes tax as well as estate planning.

Asset-based lenders can be aggressive in pursuing leveraged and high growth companies based on the reliance upon assets and the monitoring of the collateral to mitigate risk. Many financial institutions are turning to asset based lending to allow them to move into markets which have been ignored in the past. Bank regulators recognize the mitigation of the risk within asset-based lending groups thereby allowing them to operate utilizing a bank cost of funds within various banking entities.

The combination of flexibility with a low cost of funds allows PLG to operate as the premier asset-based lender within our market and offer programs which are competitive with banks and superior to other asset-based lenders.

With our Market Street product we are able to fund projects up to 100% of the cost of the project. The product is designed for the following:

• Developments (Commercial, Industrial, or Residential)
• Hard Assets in the ground (Gold, Copper, Silver...etc....)
• Hard Assets (Gold, Precious Gems, Real Estate)
• Oil Fields (With proven reserves)
• Start Up Business with Humanitarian interests

Loans are qualified on three basic principals:

1. The experience and qualification of the borrower
   • The Borrower must demonstrate his/her experience in the field of interest and their proven historically documented experience in performing the task in conjunction with the loan request.
2. The project and purpose.
   • The project must either be of a humanitarian nature or must benefit society as a hole either by creating Jobs, Homes, or Industry.
   • The project must not be associated with Adult Entertainment in any way.
3. The exit strategy.
   • The Borrower must demonstrate a clear an proven exit strategy for his project within 5 years.

All loan proceeds are disbursed on a draw basis, based on certain parameters reached in the project as outlined by the borrowers schedule and approved by PLG. The processing and underwriting period can take as much as 90 days with disbursements on the loan occurring in no less than 30 day after the completion of the due diligence .

Loan Parameters are as follows:

1. Minimum Loan Amount: $10MM
2. No Maximum (Currently our  Credit Platform is able to handle up to $20B at a time)
3. Minimum Term 2 years
4. Max Term 20 years
5. Rates as low as Prime plus 1 (Prime is as published in the Ney York  Wall Street Journal)
6. Processing and underwriting Fee:
   • A minimum of $50,000.00 and $50,000.00 for each additional $100m there after.
7. LTV 's:
   • Development Loans: Up to 100%
   • Real estate Acquisitions: Up to 100%
   • Crude Oil and Oil Reserves: 50%
   • Hard Assets (Gold, Gems) 80%
   • Hard Assets in the ground: 33%
   • Humanitarian Projects: 100% (May include Churches, Clinics, Hospitals)

Here at PLG Funding Corp. we pride our selves in being able to provide the fastest and most accurate quotes in the industry. Our staff of underwriters and processors will quickly find a program that will suit your particular lending need.

Our Small Business Lending staff and loan amounts from $100,000.00 to $6,000,000.00, we are designed to work for you.

Small Commercial Real Estate Lending (Not So-Good Credit)

• Minimum loan amount of $100,000.00
• Maximum Loan Amounts $6,000,000.00
• Maximum Loan to Value of 90%
• Terms up to 360 months with no balloon
• Minimum Credit Score of 600
• Seller seconds allowed, with as low as 10% down
• No seasoning refinancing  
• Some commercial leases can be treated as seller financed mortgages.
• This program allows you to use the available equity in the building you are leasing towards down payment, closing costs, or cash out for business use.
• Favorable Interest rates
• As low as 1% above prime
• Up to $1,000,000 for stated income transactions
• No tax returns, or bank statements required.  
• Minimum Loan Amount of $100,000.00