Searching for hard money lenders in Los Angeles can become intimidating. Even when you do not have the time to wait for a bank to answer a loan request, you cannot afford to get in over your head with a disreputable company that is vague about specifics. Here are four ways to make sure a lender is right for your business and/or personal needs.
1. The terms are clear from the start
When you cannot get a clear picture of a loan’s terms from the launch, you should think twice about moving forth. Honest lenders give you an outline of a loan from the get go. If you feel like you are still in the dark after several meetings, find a more professional and transparent lender.
2. They offer a straightforward timetable
Experienced hard money lenders in Los Angeles know that time is of the essence; especially in this line of work. Before you get involved with the particulars, ask for a timetable that indicates the process and when exactly funds will be delegated if your application is approved.
3. You don’t need a perfect financial history
Only in rare situations will you find someone approach a hard money lender with perfect credit and no danger of foreclosure or bankruptcy. These lenders exist to service loans for people with compromising credit. While terms will differ from a traditional bank loan, do not let a lender take advantage of your situation because your financial history is imperfect.
4. The lender has a solid reputation
When you are dealing with a hard money lender, make sure that they are a reputable company in the community. Read up on customer reviews to make sure customers satisfaction is a strong aspect of the company and ask for references for assurance. PB Financial has been in business since 2006 and has funded over 1,500 private money loans since.
PB Financial Group is one of the leading hard money lenders in Los Angeles and has a sound reputation with solid track record. For more information on how we can help you reach your goals please contact us at 323.935.5555 or visit www.CalHardMoney.com.
PB Financial NMLS #357614/DRE #01522495