Searching for new investment capital is a tall task for many business owners. Working with traditional lending institutions is often a headache, especially when you consider the mountains of red tape that come with securing a loan. Simply put, traditional lenders aren’t on any sort of timetable, and thus are reluctant to rush the lending process simply for the sake of the customer. If you’re in a bind or you have a time-sensitive opportunity, traditional lending mechanics most likely won’t support your plans.
In cases like this, hard money loans are an excellent alternative. Hard money is more flexible and adaptable than traditional lending, and features faster closing speeds with greater personal attention. However, before you choose a hard money lender in Orange County, you should consider the following:
What is their experience?
The right hard money lender for you will be one with experience, years of history, and a deep roster of satisfied clients. If you can’t find testimonials or referrals and the company can’t provide them, it’s best to try another provider. There is a massive difference between working with an experienced hard money lender and working with a fledgling organization hoping to cash in.
What is their specialty?
Does the hard money lender you’re considering have specific insurance related to your goals? Has it worked with your industry? If you run a retail business, for example, can you trust the lender to understand your unique challenges and goals? It’s important to choose a hard money lender that has worked in your industry niche before.
What are their requirements?
More than any other factor, a hard money lender’s requirements will determine what they can do for you. Each lender has a different list of priorities, lending caps, and desired business stats. Contact the lender for specific information regarding their loan requirements to ensure you don’t waste time researching an organization that won’t support your goals.
It’s important to find the right hard money lender, especially in Orange County for your individual needs. For more information or to see how PB Financial Group can help you please visit http://www.calhardmoney.com/orange-county-hard-money-lenders.php or contact us at PBroukhim@PBFinancialGrp.com with any questions.
PB Financial NMLS #357614/DRE #01522495