Commercial Hard Money Loans
If you need to purchase a commercial property before refinancing it with a long-term mortgage, a commercial hard money loan can be an excellent solution for you. This loan can also be used for renovating owner-occupied commercial real estate. This type of loan allows invest-only payments and can be closed fast. We at Mid-Atlantic Commercial Capital, LLC offer some of the most favorable commercial hard money loan terms in the industry.
What is a Commercial Hard Money Loan?
Commercial hard money loans are a source of capital provided by private lenders to meet fast real estate financing needs. Usually, the interest rates are higher than traditional bank loans, but this is offset by the big advantages:
- Flexibility in underwriting criteria
- Quicker funding
If you are seeking to refinance, purchase, or generate cash from a real estate investment, you can take advantage of this type of commercial loan. It is much more efficient, faster, and evaluates the asset more than the borrower. If you are a commercial lender with credit challenges or need to secure short-term loans, this is an excellent option for you.
Some of the key features of commercial hard money loan are as follows:
- Qualify for a loan within 24 hours
- Loan approval within a few days
- Zero upfront costs and no contracts
- Acceptance of most types of real estate
- Acceptance of applications with low credit
There are many advantages to applying for commercial hard money loans:
- Faster Approval: Whilst traditional loans can take months to close, these loans can be closed within a month at the most.
- Lower Interest Rates: The interest rates start from 8%.
- High LTV: These loans can provide up to 80% LTV. You can get access to maximum equity within your asset and make the most of the investment.
How Can Commercial Hard Money Loan Assist You?
Most small businesses lack the collateral or revenue source to achieve their business goals to the next level. A hard money loan can be helpful in such situations and even when you have bad credit.
These loans get approved within 5 to 10 days at the most. If you are seeking quick access to funds, this is an excellent choice. It can make even greater sense when thinking of making an investment. The commercial hard money loan is also a reasonable financing option for start-ups. Start-ups with a short sales history often find it difficult to secure traditional loans.
Hard Money Loan as Short-Term Funds
Commercial hard money loans make the most sense when it comes to short-term investments. We recommend applying for these loans through us when you must make an initial purchase or make a quick investment. It provides an excellent business opportunity if uses the funds for sound investments and ensure due diligence through the lending process.
When you choose Mid-Atlantic Commercial Capital, LLC for your hard money loan application, you will never have to worry about unreasonable terms or exorbitant fees for paying off the loan. If you are seeking an immediate commercial loan, feel free to call us at (540) 825-9800 or send us an email at email@example.com.