Applying for a loan can be a daunting and stressful process and especially so if the bank has rejected you. However, this does not mean your dreams of becoming a business owner are over. Instead, the answer to your problem may reside with private moneylenders.
Private moneylenders provide hard money loans, which are loans that are secured by the equity of a real property. Private Moneylenders are private individuals or organizations that still abide by the same federal and state usury laws that banks abide by; however, there are fewer restrictions governing them.
The truth is that banks can have multiple reasons for rejecting loan applications and it’s not always at the fault of the applier. Not only is the bank’s decision reliant on credit scores and the amount of incoming cash into the business, but also the amount of time the business has been in operation, the amount of collateral the applier can give up, and finally, on how stable the business’s industry is currently in.
While some private moneylenders will analyze FICO scores, most will base their decision on the property value of the collateral. Meaning that there is a much higher chance that your loan application will be accepted.
PB Financial Group Corporation is one such private moneylender. Catering to investors, rehabbers, corporations and other small business owners, PB Financial Group provides hard money loans to those who don’t quite meet the stringent guidelines set by banks. PB Financial Group Corporation works diligently to provide loan applicants a timely and efficient loan approval process. Applicants normally receive their closed loan 5-7 days within applying including paperwork—sans any problematic issues with the loan applicant’s liens or the title arise.
Going through a private moneylender may be the answer to many struggling entrepreneurs’ problems. PB Financial Group is here to help you succeed.
Visit www.calhardmoney.com for more information or call 323.935.5555 to speak with an account executive about your possible hard money loan today and get started on your entrepreneurial dreams tomorrow.
PB Financial NMLS #357614/DRE #01522495