What types of property will we lend on?
Protek lends on all types of good quality California real estate.

What types of borrowers will you lend to?
We will lend to any type of borrower including partnerships, corporations, limited liability companies, trusts, estates, non-residents, and regular people.

Do you fund lend to people in foreclosure?
Yes, we lend to people who have received a notice of default as well as a notice of sale.

Do you lend to people in Bankruptcy?
Yes, borrowers in bankruptcies' are OK.

How about loan sizes?
Our loans are between $250,000 and $10,000,000.

What are your intrest rates?
Every deal is unique and therefore the interest rate is determined on a case by case basis.

Do you require an appraisal?
Yes, we always require an appraisal.

What state do you lend in?
Currently, we are only lending in California.

Are you a true equity lender?
Yes equity is very important to us.

Does Protek lend to borrowers with poor credit?
We do not have a minimum fico requirment.

If a borrower has good credit, why come to protek?
Usually speed in closing to take advantage of an opportunity. We have far less red tape than banks and much easier to get cooperation in structuring a deal with easy income documentation.

Why choose protek over another hard money lender?
We really want to help you make deals! Protek specializes in the business of maximizing opportunity for our clients. With 25 years of providing private funding solutions for all real property, Protek offers a loan approval process that is one of the speediest and most responsive in the industry.

Do you charge prepayment penalties?
In most cases, however we will work around the clients needs.

What is protek's philosophy?
Protek's mission is to meet the real property financing needs of the public and real estate professions by employing an effective plan of service, creative solutions and timely closings.

How about title and escrow, who orders and where?
We prefer to close through the escrow company of the title company insuring our loan.

How quickly can you make decisions and turn a deal?
Most Loan decisions are made within 24 hours. Protek can close most loans within two weeks of receipt of a complete application. In some cases we can fund as fast as 48 hours.

How tough are you on income verification?
Although all of our loans are stated income, we do require that the borrower disclose income from all sources. The stated income must be reasonable for the line of work. It is imperative that the borrower demonstrate the ability to service their debt. We expect a complete loan application disclosing employment history, debt obligations and assets. Please provide us with a summary "loan story" stating how the proceeds of the new loan will benefit the borrowers(s). We require all loans submitted to be in compliance with all applicable State and Federal regulatory disclosure lending laws.

Will you allow cross- collateral to make a deal?
Yes we cross-collateralize all the time, sometimes taking several properties to make the equity requirements work.

Do you make section 32 and cal 32 loans?
We look for alternative ideas to avoid them. Brokers must be aware of the liability all parties, including themselves, carry when originating these loans and we are very cautious.

Do you require customer contact?
We lend to people first, and we prefer to meet, or at least speak with folks before we lend them money. There are some situations where we think this is more important than others. In no event, would we ever call your borrower without your permission.

Do you provide 100% of cost financing?
Not often unless there is other collateral. For instance, if you are looking to finance the entire purchase price of a property you are "stealing", we may be a little more flexible if you credit is great, but usually will apply our standard loan to value ratios against the purchase price. Unlike other lenders we will accept the apprised value of the property regardless of what the purchase price is.