Five Reasons Hard Money is the Best Option for Commercial Real Estate Loans
Hard money commercial loans from Shop Commercial Mortgage are revitalizing the commercial lending market, and here are five reasons why this is happening:
- It’s fast — Obtaining a conventional commercial real estate loan is a time consuming and tedious process. Endless documents and weeks of delays can occur while you get qualified, and meanwhile the property is no longer available. Shop Commercial Mortgage can qualify and close your commercial real estate loan typically in 14-21 days. Yes, it’s that fast.
- Your offer will be stronger — A seller who knows you are using hard money to finance a commercial property will look favorably on your offer, because they know it will occur quickly and with less red tape than someone looking to finance conventionally. Sellers don’t want to wait for weeks only to find out you have been denied for a loan.
- Credit problems won’t bog you down — Conventional lenders rely heavily on credit scores and income history, either of which can shut you down for financing if they aren’t stellar. Shop Commercial Mortgage looks instead at the value of the property and secures their loan by using the property as collateral.
- More flexibility in the loan and property type — Conventional lenders operate under strict rules, and any loan or property outside of their comfort zone or rules will be rejected. Hard money investors have much more flexibility in what and how they can support a commercial loan.
- More a partnership than a traditional loan — Our investors want your commercial property to succeed, because you and they both win. Our investors have years of experience in commercial real estate lending and can bring that experience to bear when helping you get the commercial real estate financing you need.
If you are tired of fighting the banks or conventional lenders for a commercial real estate loan, contact Shop Commercial Mortgage today and break out of the conventional loan trap. We look forward to working with you and your commercial real estate transactions.