Business | SPONSORED
Another Choice for Financing
Alternative lending partners look at equity rather than income.
February 5, 2019
It’s an increasingly apparent reality in the business world that the rules for obtaining loans from traditional financial institutions are tougher than ever, with one’s credit history and net income being two of several areas of intense scrutiny.
While such criteria are important, Freedom Capital embraces an old-fashioned concept. “Certainly we examine the numbers, but we really look at the asset in total to get a bigger picture of what’s going on,” says the brokerage firm’s founder, Pip Dhaliwal. “That is the basis of our operating philosophy and something I saw a distinct need for in the business world when I founded Freedom Capital eight years ago.”
Freedom Capital specializes in commercial, construction and private financing options by providing the best alternative route to each client’s unique private financing needs, and by providing loans from $50,000 for a mortgage to over $150 million for major construction projects. “Our private financing experts create custom solutions, even in the most challenging of cases,” says Dhaliwal.
In his earlier career work as a loans officer and then as a mortgage specialist in his native England, Dhaliwal became increasingly frustrated by banks catering less to investors and entrepreneurs and more to fully employed clientele. “The entrepreneurial community could only obtain financing based on their income, which of course doesn’t take into account their earning potential over the long run,” he says.
Banks’ lending policies also restrict developers by confining them to one build and withholding further financing until that project is paid out; they also will not issue a land-only mortgage if the developer is purchasing land that has not yet been rezoned.
As a broker, Freedom Capital operates on two levels: it provides financing to entrepreneurs, which in turn allows it to generate income. “We also help people with problems such as health or divorce, something I became passionate about back in England when I saw responsible and hard-working families lose all their assets due to foreclosures,” says Dhaliwal.
“We also help people with problems such as health or divorce, something I became passionate about back in England when I saw responsible and hard-working families lose all their assets due to foreclosures,” says Dhaliwal.
Because Freedom Capital works with alternative lending partners, the refinancing of loans can be obtained based on a family’s equity rather than income. Dhaliwal notes: “To us, denying a financing application is not an option as we believe every person deserves a second chance to make the right financing decision.”
Unlike many private financing firms that claim to provide easy access to money but charge extremely high interest rates or fail to understand their clients’ financial situation, Freedom Capital’s success has depended on providing quick access to money without delays—and its competitive interest rates reflect the fact that Dhaliwal and his colleagues are loyal to their client base.
“Private financing is becoming an increasingly important option in the business community across Canada and it enables those with financing problems to build back their credit and pay off credit-card loans. We often view it as spearheading the new and upcoming era of financing.
“Freedom Capital has no hidden costs, no hidden compounding fees, and no lengthy agreement terms and provides easy access to money, which makes us ideal for private financing needs.”