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How to choose the best loan in Costa Rica

If you want to know how to choose the best loan and the right Equity Loan Company in Costa Rica, then this article is for you.

Gap Equity Loans is a Costa Rican company founded in 2008 by industry experts looking to offer help with accessible equity loans with private lenders for those in need. So, the day’s question is, “Why come to us for help with a loan?”

Here are five reasons to come to Gap Equity Loans for help with your loan:

1. Speed

First, we can help close the loan in 5 days, assuming we have all the requested information. So if you need a loan, submit your application, 10 quality pictures, land survey (Plano catastro) number, and google coordinates. Once we have that and do our preliminary due diligence and valuation, we see the property, give it our appraisal, and present it to one of the many lenders we work with. As soon as one of the private lenders is interested, we coordinate the help to close, and… voila – the money you need is in your hands within days!

2. Rates

The rates the private lenders offer are super competitive! They offer loans from 12-16%, depending on the quality of the loan and the amount requested. We try to be as fair to the borrower as well as protect the lender. Whenever possible, we try to help avoid foreclosures at all costs. Private lenders we work with are just looking for a decent, reliable return on their investment. By achieving this, we create a “win-win” situation. Charging 18-24% – this is not what private lenders do!

3. Amounts

Gap Equity Loans can help with up to $1,000,000 USD loans. These are rare but feasible if the collateral is good enough! The loan amounts are approximately $150,000 USD to $250,000 USD. Although we have closed loans as low as $25,000 USD, the above seems to be the sweet spot.

4. Types of Loans

There are many reasons why private lenders can offer more than banks. For example, we have helped to close loans for solar energy, buy a boat, or renovate a home. We also have helped to close construction loans with some larger companies. These types of loans are more complex. The project must be well underway, meaning 50% completed, before considering the loan.

5. Our Competition

We pride ourselves on being more than just loan originators. We offer people many services through our affiliates, including wills, life insurance, property, and even travel insurance! Borrowers often come to us for business plans and executive summaries if a project involves. With many years of experience in Costa Rica, we know what works here and what doesn’t. We keep a line of communication open at all times for the borrower so they can call us with any concerns or inquiries. We also pay referral fees! After all, a borrower who knows we are here for them will recommend us to other potential borrowers.

In summary, if you need help with a quick loan at a great rate, let’s get started today!

 

-Co-written by Lawsen Parker (Operations Manager) and Glenn Tellier (Founder of Grupo Gap)

info@gap.cr

 

Need a loan? – Fill out a loan request now

Any questions? – Contact us!

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