Find Answers to Frequently Asked Questions about Great Energy Capital real estate loans
Great Energy Capital is a San Diego-based alternative lender that offers quick and straightforward financing options to businesses throughout the United States.
While we cannot guarantee approval for every applicant, Great Energy Capital is committed to thoroughly reviewing each application we receive as part of our dedication to providing personalized financing solutions.
At Great Energy Capital, we focus on making borrowing better. This means offering a streamlined process, personalized customer support, and, crucially, quick funding—many applicants receive their funds on the same day.
Great Energy Capital offers loans ranging from $7,000 to $250,000, depending on your business qualifications and requirements.
At Great Energy Capital, we evaluate each application individually. Generally, approved applicants have a personal credit score of at least 600, a minimum of one year in business, and generate monthly revenue of $30,000 or more.
The initial application with Great Energy Capital will not impact your credit score. After you are connected with a representative, you can choose whether to allow a credit pull. Keep in mind that opting out of a hard pull may limit the financing options available to you.
Your rate is determined based on several factors, including your personal credit score, business history, revenue, and industry type.
No, there are no penalties for early repayment with Great Energy Capital. In fact, we encourage it and offer a discount for paying off your loan or advance ahead of schedule.
After you’re approved for a loan, discuss early payoff options with your representative to find out what you may be eligible for.
Once the process is complete, you will receive your funds via ACH bank transfer. Alternatively, we can wire the funds directly to your bank account, though a small fee may apply.
Repaying your loan is easy—payments are automatically drafted from your business checking account.
You can review your payment progress by referring to the terms outlined in your loan documents. If you have any questions or need further clarification, feel free to contact your representative via email, phone, or text message.
Invoice factoring is another service offered by Great Energy Capital. It allows you to access cash from your accounts receivable much quicker than usual, helping you continue investing in your business without the delay of waiting for payments.
Great Energy Capital’s asset-based lending program allows business owners to borrow cash based on the value of their equipment, all while continuing to use the machinery. This provides access to funds at competitive rates without disrupting your operations.
Yes, Great Energy Capital provides a comprehensive equipment financing program with competitive rates, fast approvals, and prefunding options. We can finance or lease both new and used equipment for various industries, tailored to your needs.
Yes, you can! We’re happy to help you add to or renew your loan once you’ve started the payback process. Just reach out to your representative for assistance.
If you need assistance with your loan, we’re always here to help. Simply reach out to your representative with any issues or questions you may have.
Go ahead and apply here to be connected to a representative. Or, email us at admin@greatenergycapital.com
In the fast-paced real estate loan industry, reliability is the most crucial factor for our clients. If a lender alters terms or withdraws from a deal, it can cause the investor to lose the opportunity. To prevent this, we emphasize transparency throughout the entire funding process.
Most real estate lenders, particularly hard money lenders, do not charge excessive upfront fees. If a lender is asking for significant fees for underwriting or other services before providing funding, it could indicate that they are not fully committed to funding your deal.
Yes, we are pleased to offer a Proof of Funds Letter to our clients and potential clients. If you need one, simply reach out to us. Before issuing the Proof of Funds, we conduct a brief analysis to ensure the deal is eligible for funding.
Yes, we do. As long as we are confident that the investor can manage the project, we are open to lending to them. Typically, we prefer not to see first-time investors' rehab costs exceed $75,000.
If a project takes longer than anticipated and the borrower needs more time, we are open to granting 90-day extensions. Extensions are usually not a problem as long as there are valid reasons for the delay. Typically, we charge an additional point for the extension, along with continued monthly interest payments.
Definitely! Our team reviews hundreds of deals each year, and we will not fund a deal if we believe our client won't be able to make a profit.
Yes, all owners of the LLC receiving the loan are required to sign a personal guarantee.
Yes, we do, as long as the borrower has relevant experience.
While we typically prefer that someone on the team has a credit score of 620 or higher, the most important time for good credit is when you plan to hold the property as a rental. If the plan is to refinance our loan with a bank, we need to be confident that you meet the necessary requirements for a bank loan. However, there are usually ways to work with borrowers who don’t have strong credit.
The most common reason for turning down a deal is that it doesn’t provide enough profit for the borrower to make money. Even if the borrower is fine with a small return, that doesn’t mean we are. Deals with small profit margins leave little room for unexpected issues, which can make the project riskier. In these cases, we typically encourage our clients to keep searching for a deal with more potential.
Yes, we do! For buy-and-hold deals, the key factor is having a plan to secure bank financing. We pay closer attention to the borrower’s credit and finances in these cases to ensure that banks will be willing to fund the deal.
Yes! We are generally available during the day and make an effort to have our team accessible at night and on weekends if needed. Real estate is a 24/7 business, so as lenders, we understand the importance of being there for our borrowers whenever situations arise.
While choosing the cheapest option makes sense when everything else is equal, rate should not be the only factor when selecting a lender. Other important factors like reliability, speed of closing, transparency, capacity, service quality, and flexibility often outweigh the rate itself. For instance, if you secure a low rate but the lender is unreliable and backs out or changes terms at the last minute, you could lose the deal. Availability of funds is also crucial; smaller lenders using only their own funds may run out of capital and be unable to complete your project. Lastly, when choosing a lender, consider how they’ll support you if a deal encounters challenges. A lender who is willing to work with you and offer guidance during tough situations is invaluable.
