When traditional financing is not an option, hard money loans are. Traditional finances evaluate an individual's credit and borrowing history to determine if they are approved for a loan or not. Sometimes an individual doesn't have credit, or their credit history is poor. If you are in a circumstance like this, get the loan you deserve with a hard money loan.
Hard money loans don't evaluate a borrower's credit. Instead, they look at the individual's property. A hard money loan amount is determined by the value of a property, whether commercial or residential. Hard money loans are ideal for small business owners or individuals in need of money, fast.
Hard money loans are based on property, so there is a loan to value ratio to take note of. This ratio is typically around 70 percent, depending on the investor who is providing the loan. In other words, a person can receive a hard money loan that is about 70 percent of their property's value. Borrowers should also note that hard money loans have interest rates between 10 and 30 percent, depending on your resource.
Sometimes it is difficult to qualify for a business loan, especially if you're just starting a new, small business. Instead of dealing with the difficulties of a traditional bank loan, consider a hard money loan. There is no need to hassle with raising your credit score or negotiating with a bank when you select this option for financing your business expenses.
If you feel like a hard money loan is the way to go for your company, reach out to AHL Hard Money Network today! You can text or call us at 813-516-5210 to learn more about our services. We are also available by email at firstname.lastname@example.org. We look forward to helping you finance your business expenses!