Overview
Second Chance Capital fills a niche for investors with credit issues or unconventional deal structures that institutional hard money won't touch.
Second Chance Capital is based in Chicago, IL and was founded in 2019. They operate in Chicago metro and offer fix-and-flip, bridge, private notes financing. Their loan amount range runs from $50K to $1.5M.
Key terms at a glance
| Loan type | Private money / relationship-based |
|---|---|
| Products | fix-and-flip, bridge, private notes |
| Geographic coverage | Chicago metro |
| Loan size | $50K – $1.5M |
| Interest rate range | 11% – 14% |
| Origination points | 2 – 5 |
| Max LTV | 65% of ARV |
| Max LTC | 80% of cost |
| Term lengths | 6-12 months |
| Typical close time | 5-10 days typical |
Strengths
- credit-flexible
- experienced rehabber programs
- fast close
Ideal borrower
Investor with credit hair or unconventional deal
How Second Chance Capital compares for Chicago investors
For Chicago metro investors specifically, Second Chance Capital has direct local presence and deep knowledge of Chicago neighborhood dynamics. As a private money operator, their underwriting is relationship-driven — track record and deal-specific characteristics matter more than templated criteria.
Common alternatives in Chicago
- Renovo Financial — Chicago-based, deepest local knowledge
- Kiavi — Tech-forward national leader
- Lima One Capital — Broad product suite, BRRRR-friendly
- Easy Street Capital — STR-DSCR specialist
Second Chance Capital FAQ
Yes — Second Chance Capital is based in Chicago, IL and serves Chicago metro. As a private money lender, deal-by-deal underwriting applies.
Second Chance Capital's indicative rate range is 11%–14% with 2–5 points. Pricing depends primarily on funded-deals history, deal leverage, and exit certainty.
Second Chance Capital's typical minimum loan is $50K, with maximum loan size up to $1.5M.
Second Chance Capital's typical close timeline is 5-10 days typical. Fast-close depends on documentation quality, title clarity, and underwriting load.
Second Chance Capital offers fix-and-flip, bridge, private notes financing.
Investor with credit hair or unconventional deal
This review is an independent directory listing. Hard Money Chicago is not affiliated with Second Chance Capital. Rates, terms, and eligibility are determined by the lender and subject to change. Always verify current pricing directly with the lender before relying on any specifics.