Michael Mackay

Cincinnati, OH (USA)
Role(s):
Founder/Owner/Principal

Global Equity Alliance

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Location: West Chester
Industry: Finance
Year Founded: 2008
Number Employees: 250-500 people
Business Stage: Growth (profitable)
Entity Type: Limited Liability Company
Description: Global Equity Alliance is a funding source for asset-backed purchases of residential, commercial and mixed-use properties and other worthwhile collateralized projects. The cash proceeds of these loans will be used to fund private investments by real estate investors and other related business entities on a short-term basis. The type of loans made are primarily asset-backed loan notes and first trust deed notes for small and middle market real estate and other business-use or commercial properties. Many of the clientele of Global Equity Alliance usually transition to permanent financing or a sales approach to realize the exit of a successful investment. Asset-based and private lending is in greater demand now more than ever before in history and the current credit markets cannot keep up with the demand for the loan requests. Global Equity Alliance is receiving more applications each and every day and the growing need for financing creates a demand that exceeds our current ability to fund all of the qualified requests. 2010 we originated 58 Million in loan requests. General Funding Policy Guidelines: Rehab Lending & Purchase Only Lending Typically, the average funded transaction amount is up to $150,000, not to exceed $300,000. The average advance rate is not to exceed 70% Loan-to-Value of the collateral. However, the company prefers to fund average amounts of $80,000, or a 50%-65% Loan-to-Value, based on the costs, or costs plus repair of the collateral. The general term for these notes range from 3 months – 9 months, with an option to renew not to exceed a total of 9 months. The average term is 6 months; options to renew are subject to internal underwriting approval. Transactional Flip Funding (ABC Funding) Typically, the average funded transaction amount is up to $125,000, not to exceed $300,000. The advance rate is to never exceed 70% of the as-Is collateral value, or 100% of the contract purchase price. The transaction term is never to exceed 90 days, with no options to extend. General Underwriting Guidelines specific to a General Investor or LLC  Fund, LLC to designate specific markets (City, State, general area) not to fund transactions.  First Lien to Global Equity Alliance only, no second liens of any kind by any party (immediate default of note).  Full Appraisal or BPO & Site Inspection by Global Equity Alliance via various third party vendors.  Global Equity Alliance retains the service of Fund, LLC & Affiliate companies to sell default note property.  Global Equity Alliance to service notes and defaults via third party vendor.  Global Equity Alliance will allow a web based portal for the investor to track performance on a Real-Time basis. (released at a future date)  Property valuation will be determined by third party with a strict set of guidelines. (please see attached underwriting guidelines)  Loan servicing by third party.