Fix and Flip, New Construction, Cash Out/Refinance
As hard money lenders in Rhode Island, we have full control of our capital and use in-house underwriting and draw management to provide a streamlined loan process from start to finish.
Our team can approve loans within 1 day and provide funding in 10 days or less. We’re in the business of speed and efficiency. We assess each borrower and project individually, and are able to offer loans to both first-time and experienced investors. Asset Based Lending funds 12-month, interest-only hard money loans for fix and flips, new construction, cash out refinances, and rental loans.
The Premier Choice For Hard Money Loans In Rhode Island
Asset Based Lending first formed in 2010, starting as a hard money lender for the tristate area and growing into the premier choice for hard money loans throughout the northeast and Florida. Borrower demand in Rhode Island allowed us to expand our services to the state, offering hard money loans in each county without restriction. Our team are experts in the local real estate markets, understanding that a deal in Pawtucket will be written differently than one in Providence, always offering the same five-star service in each city.
As trusted and experienced lenders, we pride ourselves on the business relationships we built with the best local appraisers, attorneys, and title agents in the Rhode Island real estate industry.
Get approved for your next project, or learn more about our various loan programs below:
ABL Lends in:
ABL offers hard money loans throughout all of Rhode Island
Michael Chadwick joined Asset Based Lending as a Vice President and Area Manager in December 2020, bringing with him over 20 years of real estate and financial services experience in the New England area. Prior to ABL, Michael was responsible for developing and directing the day to day operations for a private lender in the north east where he led the origination and underwriting of over $150 million in loans across 5 states. In addition to Michael’s hard money lending and commercial finance background, Michael has hands on experience as a real estate investor having led a private investment firm through the acquisition and renovation of approximately 150 homes throughout New England.
Michael is an expert in managing hard money loans for real estate, with experience in assets ranging from single-family fix and flips to 7-figure multi-family new construction projects and everything in between. His skillset spans many aspects of real estate lending including underwriting, property valuation and analysis, and even construction draw management. His dedication and personal touch have cultivated strong business relationships with his borrowers throughout the years, meshing perfectly with ABL’s lending culture.
Your Premier Lender for Hard Money in Rhode Island
Fix And Flip Financing Done Fast
Asset Based Lending loves working with real estate investors that know how to transform a mundane property into a beautiful space and sell it for a higher value. We also understand not everyone has the capital available to fund these projects, so we offer our hard money fix and flip loans for new and experienced investors alike. These 12-month interest-only bridge loans allow investors to acquire property and begin renovations with the most competitive rates on the market.
Our team understands real estate investments and works diligently to ensure you never miss out on a deal. ABL offers loan approval as quickly as 24 hours, and can close deals in just a few days with the appropriate paperwork. We offer funding that covers up to 90% of purchase price and 100% of the rehab costs. Click here to learn more about our Maryland fix and flip loans.
New Construction Loans
The low housing inventory occurring throughout the country, including Rhode Island, has brought the demand for new residential construction to an all-time high. ABL provides hard money loans for new construction to real estate investors that require flexible underwriting and fast draw turnarounds. New construction loans are only available to experienced investors, contractors, and builders who can borrow up to 90% of the land value and 100% of the construction costs.
Our team tailors these new construction loans to fit each individual project. ABL assesses the investors experience level and viability of the property to ensure the deal is profitable for all parties. Click here to learn more details about our RI new construction loans.
Asset Based Lending offers the most reliable and straightforward rental loans Rhode Island has to offer. These private rental loans are meant for buy and hold investors that want to secure 1-4 family properties. We offer competitive terms with rates starting as low as 3.75% with leverage up to 80% LTV. Our goal is to provide the most flexible rental loan options to our borrowers including 30-year amortization, ARM, and interest-only options.
ABL’s unique capital structure allows us to provide single rental loans up to $3M and rental portfolio loans up to $6.25M. We offer these loans to investors of all experience levels, assessing each deal based on the income-producing viability of the property. Our team are experts in the local real estate markets and are focused on delivering a five-star experience to each of our borrowers. If you’re ready to grow your real estate business with our Rhode Island rental loans, contact us today.
We are a Local Lender
- We understand your local real estate conditions
- We use local appraisers, title agents and closing attorneys
We are a Direct Lender
- We use our in-house money to fund your loans
- We directly control our approvals and closings
We are Reliable and We Close Fast
- Preliminary approval in 24 hours
- Close in 7-10 days
We Manage the Draw Process Efficiently & Quickly
- We help create and approve your draw schedule
- We use local inspectors to assess your progress
- We quickly release your funds when an inspection is approved
Asset Based Lending, LLC was founded in 2010 and is a leading local source of hard money in the residential real estate market. We have consistently received praise from our borrowers who emphasize our quick, hassle-free closings, favorable terms, and creative financing solutions.
Fill out our Pre-Qualification form to start the process.