What is Commercial Hard Money Lending?
We are flexible and respond very quickly to create customized solutions with your specific needs for hard money loan requirements. Pre-foreclosure is a distinctive hard money space. We are a direct investor and we invest our own funds.
A loan is a relationship between a lender (creditor) and a borrower (debtor). Commercial hard money loans can fill the void while you seek longer term funding. This is the time to stop wasting valuable time waiting for the bank to make up its mind to turn you down. We can get you a letter of intent today and get your loan funded quickly.
How is Commercial Hard Money different from a bank loan?
|Basis for loan approval||Income, credit score, tax returns, financials||Real estate assets|
|Minimum FICO scores||Typically 700+||None|
|Required documentation||Significant||Minimal on the property|
|Upfront fees||Inspections, appraisals, application, etc…||No upfront fees|
|Loan Committee||Required||None.We make the decisions directly|
|Loan Money Received||2-3 months||Less than 10 days|
When is a Commercial Hard Money loan appropriate?
- You need either a bridge or short term loan to help link the gap between transactions
- You can’t qualify for traditional financing for any reason (income, tax returns, unique property, etc..
- You’re a small business owner that displays a quantity of expenses to reduce taxable revenue
- Your credit is decreased
- Although you have sufficient equity, you or your property has liens, judgments, unpaid bills, etc. where cash is required to resolve
- You have ample equity in your property and require cash
- Your property is taken care of by your business and financials don’t reveal the entire story
- You need a loan without all the documentation requirements of a bank (stated loans)
- You are trying to avoid foreclosure and restructure your debt or reposition the property
- You’re a foreign national individual; you don’t have “credit depths”
- You require a complex loan with multiple pieces of collateral
- You require a creative resolution to a loan that doesn’t work with other lenders