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Bluestone is a small balance private credit fund manager with a particular focus on issuing commercial real estate bridge loans to real estate investors and small business owners. As a direct lender, Bluestone utilizes balance sheet capital to underwrite, fund and service loans in-house.
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Generally speaking, Bluestone can provide a soft quote after the application on our website is completed. To receive a formal term sheet, a broker or borrower will need to verify the application details with a person financial statement, leases and property financial information.
Once a loan package is submitted to Bluestone, a broker may provide their fee to include on Bluestone’s term sheet. All brokers are protected as their fee is disclosed on the term sheet and paid at closing. Alternatively, brokers may charge a yield spread on Bluestone’s origination fee which will be paid to the broker post-closing.
Bluestone can typically close a loan 14-20 days after the term sheet is signed. In certain cases where third party reports are already complete, Bluestone can close within 5 business days.
A broker may choose how active he or she is in the loan process. Some brokers prefer to provide loan packages and allow Bluestone to communicate directly with the borrower throughout the deal process. Other brokers act as an intermediary and will report back to Bluestone once information is provided to them by the borrower. In either case, the broker and borrower have direct access to Bluestone’s underwriting team.
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