Hard Money Loans
Hard Money Loans
Lending Overview
Hard money loans help businesses leverage their long-term assets for short-term business needs. If you have valuable business assets but do not want to liquidate them to generate capital, a hard money loan is your solution. These loans provide funding for real estate, equipment, inventory, and more by using hard assets as collateral. You can choose to secure a loan on the property you already own or want to buy. That means you will not have to liquidate assets to get 90% or more of their value. Hard money loans are short-term financing, meaning they come with terms of several months or just a few years. The opportunity to pay debt early can result in less interest paid and a higher credit score. Hard money lenders focus on the value of your property instead of credit scores, so it is easier to be approved. If you have questions about hard money loans, our brokers have the answers. Reach out and talk to us!
How to Effectively Apply Funds
Utilize hard money loans to swiftly capitalize on opportunities with fast approval and closing, enhancing your business’s capacity to grow and compete.
One of the biggest benefits of a hard money loans is how fast and efficient closing can be. Hard money loans may be approved in a matter of hours. That helps businesses act quickly on opportunities without so you can take advantage of great deals before they disappear. While it is common to use hard money loans to buy real estate, they have a range of uses that include equipment and inventory. Upgrading to more efficient manufacturing equipment, for example, could help you make products faster, increasing your monthly revenue. Waiting until you can buy the equipment without a loan will help you avoid paying interest, but you miss out on the opportunity to earn the increased revenue while you wait. Boosting your revenue now could cover the cost of the loan and grow your business faster. For more examples of how a hard money loan can help your business, contact our brokers today.
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Cash Flow
When your cash flow could use a boost, try a line of credit. Lines of credit let you tap into cash whenever you need to, so you do not have to sweat the slow season. Pay for supplies, materials, inventory, and more when you get a line of credit from our network of professional lenders.
Urgent Needs
Lines of credit give you a low-cost source of emergency cash in case you need it quickly. If you do not have a balance on your account, you will not have to pay interest on it, which means it is easy to have a backup plan in place. When the unexpected strikes, you will not have to wait to get approved.
Low Credit
Having a lower credit score does not mean you cannot get affordable financing for your business’s working capital needs. A secured line of credit lets you leverage your business’s long-term assets to get credit without a high credit score. Paying back into your account on time can even raise your credit score.
Advantages
Hard money loans offer the strategic advantage of speed and flexibility, allowing businesses to quickly secure financing and seize growth opportunities.
Fast access to capital
Asset-based
Versatile use
Easy-approval process
FAQ’s
Got Questions? We Got Answers!
Q. How can a line of credit raise my credit score?
If you have a low credit score, you might be able to bring it up by using a line of credit. Secured lines of credit are asset-based, allowing you to borrow even if your score is low. When you pay back the loan on time each month, you build good credit and raise your score.
Q. What is a secured vs. unsecured line of credit?
A secured line of credit uses your company’s assets as collateral on the loan. An unsecured loan is based on your credit history and keeps your assets off lenders’ radar. To learn which fits best with your plans, contact a broker today.
Q. When should I not consider a line of credit?
Lines of credit are short-term loans that can be accessed over and over again, as you need them. However, most lines of credit are not designed for long-term purchases like real estate and heavy-duty equipment. If you need to purchase these assets, talk to a broker about the many options available.
Q. Is it easy to get a line of credit?
Yes, because there are so many options, it is easy to find a line of credit when you get the help of a broker. You can compare lines, access great deals, and apply through our brokerage.
