Access funds for your renovation with Boomerang is simple. Update your budget spreadsheet, send photos of the work and receipts, and the approved funds can be in your account by the next business day.
Accessing Renovation Funds with Boomerang
Minimal paperwork, minimal site visits. Our three-step hard money loan draw process makes it easy to access your renovation funds, so you can keep your project moving smoothly through each stage.
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01
Fill Out Your Draw Form
Put the line items from your statement of work into our Excel template and enter the amounts you're claiming. The total at the bottom is the figure you'll request.
You'll follow this same process each time you have a draw request.
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02
Send Your Request and Photos
Send your request to draws@boomerangcapital.com with the total you're claiming and at least 10 photos showing the completed work. We review anything that arrives by 2 p.m. Arizona time the same day.
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03
Receive Your Funds
Your request goes to our approval team for review. They’ll either confirm your draw or let you know if there’s anything missing from your request. Once you’ve received final approval, the money will land in the bank account on file.
No Credit Check Needed
We hold a first lien on the property and size every loan to its value, so the asset covers us if a project ever goes sideways. That security is why we don’t need to complete a credit check as part of our hard money loan process.
- We lend a portion of the value: On a $300,000 property, that's typically around $240,000, leaving a cushion between the loan and what the property is worth.
- You sign a personal guarantee: This sits alongside the lien as your commitment to repay, and it's standard on every loan we write.
- First-timers are welcome: With the value there to back the loan, a short track record is no barrier to getting funded.
What Happens After Funding?
Your journey from here depends on the type of loan. But whatever happens, you’ll have the same experienced team in your corner.
- Acquisition loan: Short-term funding holds the property while you line up long-term financing or a sale. When you're ready, pay us off and move onto your next project.
- Fix and flip loan: As you finish each stage of the work, you request a draw and we pay you back for what you've completed.
Meet Your Draws Contact
Letisha Thompson
Letisha is an invaluable part of the Boomerang team. Always enthusiastic and attentive to loan customers, she's quick to jump in and help, including translating when the situation calls for it, and her skills make for a smooth customer journey through the draw process. In her spare time, she enjoys morning runs and time outdoors.
Finance Your Next Fix and Flip
Complete the online form and send over the details of your project to receive your personalized quote.
Have a Few Questions for Our Team?
Call us on the number provided to discuss your project, the draw process, or anything else you’re unsure about.