Worcester Financial is an asset based, hard money lender offering our borrowers creative financing when a traditional bank loan is not an option. Our loans are short term and generally do not exceed 18 months. The loan is collateralized by real estate or a physical asset. We generally lend up to 70% of the after renovated value of the collateral. Our team underwrites the opportunities in-house and evaluates the risk based on borrower history and market conditions. Upon approval from our underwriting group, we send the opportunity to our group of over 150 accredited investors, allowing them to participate as a co-lender. Once a loan is closed, Worcester Financial acts as the servicing agent to the borrower and investor, collecting payments and issuing distributions monthly.
Worcester Financial escrows rehab funds at closing and releases them on a draw basis as work progresses. That escrow-and-release structure is the published mechanic, but Worcester does not state the inspection method (physical or virtual), a per-draw turnaround, or how many draws a project allows, so those specifics should be confirmed for a given project. Worcester also does not publish a closing timeline. A distinctive feature is its funding model: Worcester funds through a group of more than 150 accredited co-lenders, then acts as the servicing agent, collecting payments and issuing monthly distributions. For rehabbers, the takeaway is a straightforward escrow-and-draw structure with in-house underwriting, but with the draw turnaround and inspection steps left to confirm directly. Investors on a defined schedule should ask Worcester how quickly approved draws are released before closing.
Worcester Financial is an asset-based hard money lender based in Kansas City, Missouri, founded in 2016, lending in Missouri, Kansas, and the greater Kansas City metro, with fix and flip, bridge, and BRRR rehab-and-refinance loans.
• Fix and flip: up to 65% LTV or up to 70% ARV.
• Bridge: up to 65% LTV, with rehabilitation loans up to 70% ARV.
• BRRR (rehab-and-refinance): up to 70% ARV.
• Terms of 6 to 12 months (generally under 18 months) at 10.5% to 16% with 2 to 4 points, on residential and commercial investment property.
• Worcester funds through a group of more than 150 accredited co-lenders and acts as the servicing agent, collecting payments and issuing monthly distributions.
Worcester Financial is an asset-based hard money lender headquartered in Kansas City, Missouri, founded in 2016, lending in Missouri, Kansas, and the greater Kansas City metro. It offers fix and flip, bridge, and BRRR rehab-and-refinance loans (generally under 18 months) to residential and commercial property investors, funding through more than 150 accredited co-lenders while acting as servicing agent.
