Business Loans, Financing, and Lines of Credit up to $5 Million
Hard money loans are known as a “last resort” or a short-term bridge loan, and they are backed by the value of the property instead of the credit score of the business. Hard money loans have a much lower loan-to-value (LTV) ratio than a traditional loan.
HOW IT WORKS
Hard money loans are usually sought out by property flippers whose plan is to renovate and sell real estate. This type of loan is appealing because the loan will often be paid off within one year, which is the usual time it takes property owners to resell their real estate.
The approval process for a hard money loan is generally quicker than that of a traditional loan because investors will look towards the value of the property used as collateral rather than the typical documents.
WHAT YOU’LL NEED
Voided Business Check
Profit & Loss Statement
Business Tax Returns
Personal Tax Returns
Business Debt Schedule
- Low LTV Ratio
- Perfect For Real Estate Investors
- Competitive Interest Rates
- Quick Approval Process
- Short Repayment Plans
- May Require Collateral
Hard money loans are easy to qualify for since they look at the collateral instead of credit scores, this also makes the application process extremely easy and funding is immediately available.