Private Hard Money Commercial Loans
Category : Hard Money Loans
Are you looking for funds to build or purchase a commercial real estate property like apartment complex or strip mall. Not to worry, now you can apply for hard money business loans. All you need to do is to have all your financial documents prepared and provide the lender with all the information they require to finance your project.
Private hard money lender are not traditional banker or financial institutions. They are a completely separate lender and their clients are higher risk from a traditional borrower. Mostly their interest rates vary an upwards range of 20 % as compare to other lenders. Most of the lenders that offer hard money business loans are helping clients that are close to financial distress on your commercial real estate venture.
Below are some of the things that Private hard money lender put into considering you for hard money business loans:
• Corporate credit rating. This shows a lender how you have handled your previous debts and how you have repaid them in a timely manner.
• Business plan. What is your business and how are you planning to make money? Since you are dealing with commercial real estate, you need to have other businesses committed to the building and leasing space. This shows the lender your investment is not going to lose money.
• Financial projects. Provide the lender with financial projection so they can see how timely you will be able to repay the loan.
Hard money lenders are typically found through the form of hedge funds and private equity groups.