Lanyard Group of Companies, Vancouver, BC

Lanyard's lending program focuses on interest-only loans with a term of one year, extendible for one additional year at the option of the borrower. Lanyard offers no penalty on pre-payment subject to minimum interest in the order of six months. A reserve to cover interest not payable from cash flow can be arranged from loan proceeds for real estate assets such as land or hotels (during months of low occupancy). A project reserve to cover development costs can also be established from loan proceeds for development projects in certain circumstances. Second mortgage loans can be arranged in cases where lending value is relatively low in regard to the value of the underlying security. Fees are payable by the borrower from the proceeds of each loan arrangement.