As a leading provider of hard money loans in Los Angeles County and other California Counties, we’re often contacted by business owners who are unsure if a hard money loan is right for them. Maybe they’ve been through the rounds with a traditional lending institution or they’re just exploring their options or funds are required to expand business dealings, but either way business owners aren’t always aware of the immense benefits provided by opting for a hard money loan over seeking traditional financing.
With that in mind, here are three big advantages to working with a hard money lender:
Working with a bank requires weeks of back and forth. Because the bank is checking your credit, analyzing your investments, trying to understand your business plan, and actively looking for reasons to decline the loan, you’re often faced with long waiting periods. Waiting, as you know, is a huge disadvantage if you’re trying to harness a new opportunity or need to make a major investment in your business. With a hard money loan, you’ll receive funds faster and with less hassle because there are fewer hurdles to overcome and WE make the decisions.
Flexible Financing (We are Not Credit Score driven)
Banks and other traditional lenders are not nearly as flexible as hard money lenders. Since hard money loans have more to do with the equity of your property than anything else, hard money lenders can overlook troublesome credit histories and other little problems. Working with a hard money lender is the best way to ensure your financing options are based on your future instead of your past.
Variable Amounts and 2nd position loan options
It’s possible that the amount of money you’re seeking for business expansion or renovations is either too low or too high or subordinate financing (2nd or 3rd position loan request) to fit a traditional lender’s protocols. Hard money lenders, however, have more options when it comes to loan size and loan options. PB Financial Group has carved out a spot among hard money lenders in Los Angeles and other California areas by providing loans between $50,000 and $2 million — whatever amount you need, in either 1st, 2nd or 3rd positions loans, chances are good we can help.
Overall, working with a hard money lender gives you the ability to move quickly and take advantage of opportunities as they present themselves. For more information about our services and how we can help you please visit www.calhardmoney.com or contact us at 323.935.5555.
PB Financial NMLS #357614/DRE #01522495