Jaken Finance Group · Updated
Choose a Chicago hard money lender whose written terms fit your building and available cash. The loan must also match your rehab schedule and planned sale or refinance. A two-flat in Bridgeport, a Naperville house flip, and an Aurora warehouse need different financing. Start with lenders that explicitly serve your property type and location, then compare their total costs.
Below are seven providers with published Chicago or Illinois lending information: Archwest Capital, Chicago Hard Money and Bridge Loans, Fairview Commercial Lending, Jaken Finance Group, Renovo Financial, The Hard Money Co., and Tidal Loans. Their order is alphabetical and carries no ranking.
How this comparison was prepared
Publisher disclosure: Jaken Finance Group publishes this guide and offers loans discussed here. We have a commercial interest in borrowers choosing us. The possible fits below are our interpretation of each company’s published programs, not independent ratings, endorsements, or verified borrower outcomes.
Sources checked September 6, 2026: Competitor details link directly to lender websites. Advertised limits and turnaround times are conditional; a written offer for your address governs. We did not obtain private quotes, test closing speeds, or verify available lending capital. “Not published” means not stated in the linked pages reviewed, rather than unavailable from the lender.
For our own local offer, use the Chicago hard money loan guide. For a renovation project, see Chicago fix-and-flip financing. The comparison focuses on investment property, so disclose any planned personal occupancy before requesting terms.
Chicago lender shortlist by project
| Lender | Possible project fit | Important qualification to confirm |
|---|---|---|
| Archwest Capital | Residential flips, including small multifamily | Experience requirements and financing limits for the exact unit count |
| Chicago Hard Money and Bridge Loans | A local, equity-backed investment property loan | Property within its Chicagoland service radius and sufficient collateral value |
| Fairview Commercial Lending | Chicago-area office, retail, or light-industrial property | Commercial eligibility; its Illinois offer differs from residential programs elsewhere |
| Jaken Finance Group | Chicago metro purchase-and-rehab projects, with a sale or rental exit | Eligibility for maximum financing and the separate after-repair value limit |
| Renovo Financial | Rehab-to-sell, rehab-to-rent, or multifamily projects | The right residential or multifamily program and borrower requirements |
| The Hard Money Co. | Cook County renovation, flip, or rental acquisition | Eligible property types, borrower experience, and project financing amount |
| Tidal Loans | Illinois flips or acquisition-and-rehab followed by a rental refinance | Whether financing uses one loan or an approved second lien |
Archwest Capital
Archwest’s Chicago page markets residential renovation loans. Its fix-and-flip program advertises $200,000–$5 million or more, 6–30 month terms, and up to 95% loan-to-cost. It lists non-owner-occupied houses, condos, townhomes, two-to-four-unit buildings, and multifamily properties up to nine units.
The Chicago page advertises interest on drawn funds only and availability of full rehab financing. Confirm draw inspection costs, release conditions, experience thresholds, points, and extension fees; a complete fee schedule is not published there. The Chicago page contains differing leverage figures, so get the applicable purchase advance and total loan limit in writing. This is a candidate for an experienced residential investor to compare, not a promise that every small multifamily project qualifies.
Chicago Hard Money and Bridge Loans
This Wicker Park lender says it lends its own funds within Chicago and roughly an hour of the city. It excludes properties borrowers occupy or intend to occupy. Its published ceiling is 65% of the value it determines, with terms usually up to 18 months. That value-based limit is not directly comparable to a percentage of purchase-plus-rehab cost.
It states there is no minimum holding or interest period. Rates are quoted per transaction. Minimum credit score, origination points, and rehab draw timing are not published on the reviewed page. Ask how it values a building needing work and whether renovation funds can be reserved. Its stated local inspection approach may suit an investor seeking a direct property discussion.
Fairview Commercial Lending
Fairview’s Illinois program focuses on Chicago metro income properties such as office, retail, and light industrial. It states that it uses its own capital and retains servicing. Its FAQ identifies Chicago coverage as commercial lending and says pricing depends on the transaction.
Fairview reports no upfront fees before issuing a commitment. That does not establish the total closing cost. Obtain the commitment fee schedule, valuation basis, repayment terms, and any renovation advance agreement. A standard Illinois residential flip program or rehab draw schedule is not published in these sources. Include Fairview when comparing a commercial property loan; confirm eligibility before treating it as an option for a house or two-flat.
Jaken Finance Group
Jaken Finance Group is headquartered at 2300 Barrington Road, Suite 400, Hoffman Estates. Our published fix-and-flip program has these parameters:
| Program item | Published parameter |
|---|---|
| Interest rate range | 8.99%–13.5% |
| Loan-to-cost limit | Up to 100% LTC on qualified files |
| After-repair value limit | Up to 75% ARV |
| Typical term | 6–12 months |
| Closing target on complete files | 7–10 business days |
| Minimum credit score on select programs | None; credit review and approval conditions apply |
These ranges are not a rate lock or an approval. Property value, borrower experience, available cash, and the renovation plan still affect the offer. Rehab funding is released through draws; ask for the required inspections, reimbursement timing, and fees in your written terms. Full cost financing does not automatically cover closing expenses or the cash needed before a draw.
Review loan eligibility requirements and points and fees. If you intend to keep the property, review Chicago rental refinance options separately. Offering both products does not guarantee the refinance will qualify or repay the entire renovation loan.
Renovo Financial
Renovo’s Chicago team page identifies the city as its headquarters and offers rehab, rental, construction, and multifamily financing. Its rehab program lists one-to-four-unit residential loans with 12–18 month terms and a separate multifamily program for up to 30 units. Published amounts are $100,000–$2 million, with larger requests considered individually.
The rehab page advertises access to draws in 24–48 hours. Confirm when that clock starts, required inspections, fees, and eligibility for the specific project. Numerical rates, points, maximum leverage, and minimum credit or completed-project requirements are not published on that page. Renovo is a candidate when comparing a residential rehab and rental plan or a larger multifamily project with a Chicago lending team.
The Hard Money Co.
The Hard Money Co.’s Chicago location page describes a Milwaukee-based lender expanding in Cook County. It markets financing for flips, buy-and-hold investments, and purchase-rehab-rent-refinance projects. The page states that it finances renovations and offers interest-only payments. Its process includes an internal comparative market analysis before issuing a loan disclosure.
A numerical rate schedule, maximum leverage, minimum credit score, experience threshold, and detailed draw policy are not published on that page. Request the amount available at closing, the rehab reserve, draw charges, and a confirmed timeline. It is a relevant Cook County candidate, particularly when you want to compare how lenders value the same renovation project. Confirm coverage for any collar-county address.
Tidal Loans
Tidal’s Illinois lending page advertises up to 90% of purchase price plus all approved repairs on qualifying deals. It also describes structures using a seller or another lender in second position. Its Chicago page discusses conditional financing of all purchase and rehab costs within its stated after-repair value limit.
Those structures create different debt and cash requirements. Confirm whether the quote uses one lender or two, each lien’s cost, and how the loans will be repaid. The Illinois page states that credit is reviewed without a hard score cutoff. A complete origination, draw, inspection, and extension fee schedule is not published there. Tidal also advertises rental loans; obtain separate refinance terms if the intended exit is to hold the property.
Compare costs using the same Chicago property
Give each lender the same purchase contract, photos, contractor budget, completed-project history, and target closing date. Include the legal unit count, current tenants, known violations, and your sale or rental assumptions. Otherwise, different quotes may describe different projects.
Ask each lender to separate the purchase advance, rehab reserve, and total loan commitment. Loan-to-cost, or LTC, compares the loan with eligible project costs. After-repair value, or ARV, is the estimated completed value. A lender can cap both; the smaller resulting loan amount controls.
For an illustrative $280,000 purchase with $95,000 in approved repairs, purchase plus rehab is $375,000. A $337,500 loan is 90% LTC. Financing 90% of the purchase plus all repairs instead totals $347,000, or about 92.5% LTC. Those offers leave different cash gaps even though both may feature “90%” in the headline.
Under a hypothetical 75% ARV cap and $440,000 completed value, the total loan could not exceed $330,000. The borrower would then need at least $45,000 toward purchase and rehab, plus other expenses. The lender’s appraisal or valuation and eligible-cost rules may further change the result.
Worked example: lower interest can still cost more
These are hypothetical offers, not quotes from the lenders above. Assume $300,000 is fully funded for six months, simple interest, and points charged on that amount. One point equals 1% of the loan.
| Financing cost | Offer A | Offer B |
|---|---|---|
| Annual interest rate | 10% | 11% |
| Six months of interest | $15,000 | $16,500 |
| Origination points | 3 points = $9,000 | 1 point = $3,000 |
| Interest plus points | $24,000 | $19,500 |
Offer B costs $4,500 less in this limited comparison. Neither total includes inspections, draw fees, title, legal expenses, insurance, taxes, extension charges, or any minimum-interest requirement. For staged rehab funding, calculate interest on the balance specified in each contract. Do not assume it applies only to money already released.
Questions that matter for a Chicago two-flat or suburban flip
- Cash before the first draw: Must you pay the contractor first? Can deposits or materials be funded? How much working cash remains after closing?
- Permits and inspections: Which work must be completed or approved before funds are released? Who schedules inspections, and what happens if work fails one?
- Existing tenants and unit count: Will the lender accept the current occupancy and legal use? Provide leases and a plan for work in occupied space.
- Borrower qualification: Is there a credit pull, minimum project history, personal guarantee, or liquidity reserve? How do terms change for a first project?
- Early repayment and delays: What would payoff cost in month three, six, and twelve? Is an extension discretionary, and what fee and rate apply?
- Rental exit: What happens if the refinance proceeds fall below the bridge payoff? Request assumptions for rent, taxes, insurance, value, and closing costs.
Use the Chicago Department of Buildings permit and inspection records to start checking a city property. For a suburban property, identify the actual municipality and its building department. A postal city or neighborhood label alone does not establish the permit jurisdiction.
Our two-flat financing guide covers property-specific questions. The illustrative Bridgeport refinance scenario shows why loan payoff matters alongside property value. It is an educational model, not verified evidence of a funded transaction or a promised return.
Build your shortlist, then request written terms
Choose two or three lenders whose published programs match your building and exit. Send one consistent package, compare cash required through the first rehab draw, and model both an on-time exit and a delay. Ask for recent, relevant project references where available, with enough detail to distinguish funded transactions from illustrations.
To include Jaken Finance Group in your comparison, submit your Chicago fix-and-flip project or call (833) 264-7776. Include the address, purchase price, rehab budget, available cash, experience, and expected exit date so the proposed terms can address your actual project.