What is Commercial Hard Money Lending?
Those searching for commercial properties and real estate may have heard the term “commercial hard money lending” during their property search. If you’re interested in financing your commercial real estate purchases but want to avoid taking out a traditional loan, commercial hard money lending is an appealing option.
Commercial hard money lending is a type of commercial loan where a lender allows money to a borrower based on their hard assets. Hard assets are real estate assets and property. Instead of lenders looking at credit scores and previous loan history, lenders will evaluate an individual’s residential or commercial properties and base their lending amount on the value of this real estate.
Commercial hard money lending is an ideal option for those who may have unflattering credit scores, or no credit score at all. Commercial hard money lending is also a more flexible option than traditional bank loans because of the flexibility of independent and private lenders. If you’re interested in a loan that is untraditional, commercial hard money lending is the perfect option for you.
Other perks of commercial hard money lending include no upfront fees, no loan committee and the need for only minimal documents. Commercial hard money loans are also fast. Receive the money you need in less than 10 days to get right to work with making commercial property purchases for your business.
Interested in a commercial hard money loan? If you are, seek our services at Shop Commercial Mortgage. We are dedicated to helping individuals fund their businesses and purchase properties. Learn more about what we have to offer by visiting our website, or giving us at Shop Commercial Mortgage a call at 813-516-5210 today!