Commercial hard money loans are primarily based upon the borrower’s real estate assets. Such loans are also called no-doc loans, private hard money loans, bridge loans etc. For a commercial hard money loan, the lending decision is based on the commercial asset as opposed to relying heavily on a borrower’s credit, financial etc. By relying on an asset, private money lenders are able to fund transactions that might not fit traditional lending guidelines.
A commercial hard money loan is a good alternative to traditional bank financing. This alternative financing can be very beneficial to the borrower in many circumstances. Below are just a few of the reasons when a commercial hard money loan might be appropriate:
- You need a loan quickly and can’t wait the 4 to 6 months for a traditional bank loan approval
- You need a Bridge Loan
- You are not able to qualify for traditional financing for whatever reason (income, tax returns, unique property, etc..)
- You don’t have enough credit score to opt a traditional loan
- You or your property has liens, judgments, unpaid bills, etc. that cash is needed to resolve
- You need business working capital
- You are trying to avoid foreclosure and restructure your debt
- You need a loan without documentations
- You are a foreign national
- You need a creative solution to a loan that doesn’t fit other lenders
- You need a complex loan with multiple pieces of collateral
- Your property is occupied by your business, and your financial don’t tell the full story
Why Magna Capital Group, Inc For Commercial Hard Money Loans?
Magna Capital Group, Inc is one the most trusted and premier source for hard money commercial loans. We provide custom loans to fit the needs of investors for all types of commercial properties, including office buildings, shopping centers, restaurants, industrial properties, apartments or any income producing properties. We underwrite in-house without any upfront fees for due diligence, etc and this allows us to provide honest answers quickly without the thousands in out of pocket expenses typically required for a commercial loan.
We can quickly provide the funding you need for a successful commercial real estate acquisition or refinance. We have some of the most favorable commercial hard money terms in the industry and understand how important it is to offer our clients fair terms. We understand all kinds of loan situations and work with all types of borrowers. We have the proven track record as a premier hard money commercial lender to help. Our rates vary depending on the type of property, term of loan and general situation.
Here are some of our hard money commercial loan features:
- No documents requested
- Loans Ranging from $250,000 and up.
- Loan to Values(LTV) up to 65%
- Fast Turn-Around Time
- All Credit Accepted
- 1-3 year Terms / Interest-Only
- Flexible Underwriting
- Competitive Interest Rates
If you need any assistance with a commercial hard money loan, please give us a call at (310) 734 4044 or email at email@example.com We will customize a loan to fit your exact situation.