Commercial property owners may be familiar with hard money financing if they have been in business for a while, but new commercial owners or those looking at their first properties may not be familiar or comfortable with the idea of hard money loans. Let’s take a look at some facts about commercial hard money:
Private money lending has become more popular as conventional banks tighten their procedures for approving residential and commercial loans. A conventional loan might be turned down for any number of reasons including credit problems, self-employment, previous foreclosures, bankruptcies, or other issues. Private money investors may be more flexible for approving your loan, but there are […]
Business is tough and it is even tougher when you go to a bank and ask for a commercial loan, only to be turned down. To avoid the adage about doing the same thing over and over with the same result, do some investigation into the matter and do some basic sleuthing to discover the […]
Hard money commercial loans from Shop Commercial Mortgage are revitalizing the commercial lending market, and here are five reasons why this is happening:
Getting a loan for your business can be exciting because you will have the funds to improve your existing business or perhaps purchase a new property for expansion. The downside is that the commercial loan process is significantly different from a residential loan familiar to most business owners.
When you apply for a mortgage or loan you may hear the word “collateral” used by the lender. What is “collateral” and what is its purpose? Let’s look at the use of collateral in loan processing.
When your business needs to grow, you will be entering the commercial real estate market. Part of the process, once you have an idea of the property you need, is to secure a commercial real estate loan. It may sound easy but it’s not quite the same as obtaining a mortgage for your home.
Shop Commercial Mortgage is not your typical commercial mortgage lender. We offer many advantages over conventional commercial lenders, with the primary advantages being the ability to get commercial lending without credit or if you are self-employed. There are many others:
Shop Commercial Mortgage can normally provide money to approved borrowers in two weeks. To get a better understanding of our loan criteria and terms, they are summarized below:
There are many good reasons why a commercial investment firm is a better choice than conventional lending when dealing with commercial property. Let’s review some of them:
"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"
Mikle / Broker