Category Archives: hard money lender in arizona

Hard Money Business Loans

Are you thinking about obtaining a hard money business loan? You might be surprised at the cost of the money.

Have you been turned down for a conventional business loan? Many people shy away from a hard money business loan because of higher interest rates and other fees that are locked into the loan. For short-term loans, however, they can be the saving grace in circumstances such as seasonal lows or when needed inventory is hard to come by. Many lenders also offer no prepayment penalties which can reduce the cost of the loan significantly. If you are a business that needs inventory or equipment or funds to hold you over until peak season, this could be the type of loan to consider.

If you are flush with hard assets, hard money business loans may not look at credit scores because these types of loans are often based on the collateral rather than credit ratings or other financial requirements. For lenders, there are fewer regulations but greater risks, which explains the increased interest rates. Almost anyone who has extra cash can offer hard money loans, so you should always research who you plan on doing business with.

You will need to offer up your assets to the lender. The lender will not loan one hundred percent of the value of the assets, rather up to 75%. If you have assets of $100,000, they may lend you $75,000. Interest rates vary widely so you might want to search out other lenders and compare interest rates before you agree to a loan. Almost totally determined by the collateral, usually commercial real estate, the loan-to-value is determined by the hard asset. In the case of a business, this could be equipment or receivables. Some business owners choose to use their home as collateral in order to obtain a hard money business loan.

Quick to Funding

Often quicker and easier, hard money loans give business owners a solution in a financial pinch when they cannot wait for the approval of a conventional loan process. If you have a poor credit score and lack the time to rebuild before launching your business, then you might want to consider these types of loans. You will need to weight the costs and benefits of this type of loan. Some of the advantages of this type of loan are, easy to apply for, easy to qualify for, and fast access to cash. Some of the disadvantages are the increase costs and risks you assume when financing a business.

Interest rates for these types of loans are slightly higher than traditional loans. For the lender, these types of loans are much riskier than traditional loans.

Since these loans are riskier than traditional loans, the interest rates you will pay could start at 12% and go all the way up to 29%. One drawback on these types of loans are that they are short term in nature and usually carry a balloon payment after 1 – 6 years. You will need to consider all your financing options before proceeding with the Hard Money Loan. Make sure you do your research before placing your signature of the line. Make sure the lender is honest and trustworthy. See if there are any complaints at the Better Business Bureau and read all reviews from past borrowers before you proceed. Make sure you help your business, not hurt it! At Level 4 Funding, we have worked with hundreds of businesses and offer rates as low as 7.99 percent with 90 percent LTV. Call us for a no-obligation quote.

Dennis Dahlberg
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444 NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

Tips to Obtaining Hard Money Loans Fast

Hard money loans are used for short-term projects, usually ranging from as little as 30 days to 5 years. But these loans also come with higher interest rates. But if you need to get extra finances quickly, this type of funding is the right choice for you.

Fast approvals are usually quite easy when it comes to hard money loans. On top of quick approvals, these loans also come with high flexibility and less documentation is required for approval. Usually they are used as a last resort when unable to get a mortgage, but it can be well worth it.

If you are looking to finance a real estate investment, this type of funding is very beneficial in its own ways. The application process is much shorter compared to other loans. Financial history of course does play a role, but other factors come into play as well. Many lenders aren’t concerned with the present value. Their main concern is to see that in a short time, they will be able to make their money back on the investment, including interest.

Since lenders are looking more at the final project, making plans for the property plays a big part and can help you get hard money loans even faster. Most of the time, funding is provided in just a couple of weeks. But if need be, you sometimes can get the funds as little as just a few days, all depending on the lender and certain circumstances.

The first thing to do to obtain a loan quickly is to gather all of the important documentation.

Gathering all of the important documentation and information needed for lenders is one of the most basic factors for a speedy process. Things that lenders are looking for include: what kind of property you are looking to invest in (residential, commercial, industrial or land), the estimated value of the property, the requested loan amount and how the loan with be paid back (this includes the terms of loan, the length and monthly payments).

Not only is the process of getting funds quick, so is the application.

Unlike other loans, hard money loans come with much easier applications. In fact, the application is only 5 pages long. The entire process will even go quicker if you are able to present all of the information that the lender needs sooner rather than later. This is why organization of all of your documents and plans come in handy.

Dennis Dahlberg
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177 NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

What is hard money? Benefits of a Hard Money Loan.

What kind of Arizona Arduous Money do I would love?

There are two completely differing types of Arizona hard money that is obtainable to you. Every are exceptionally associated, nevertheless they each have completely totally different benefits to the borrower. The two kinds of Arizona hard money are Arduous money lender Arizona and private money lender Arizona. It is simple to get confused by the two, they’re every smart kinds of loans, nevertheless the following will make clear how they’re completely totally different.
It shouldn’t shock you to look out out that hard money lender Arizona and private money lender Arizona are every primarily based totally on property and have further to do with the true property you’ll want to put money into than collectively along with your credit score rating ranking. These are every moreover loans that are not monetary establishment affiliated, in order that they’re less complicated to amass than your standard monetary establishment loan.
However, hard money lender Arizona and private money lender Arizona do have some variations. 
For example, hard money lender Arizona happens to be a gaggle of people, whereas private money lender Arizona is just one explicit one who gives out the loan. Generally, with a private money lender Arizona, you acknowledge the person loaning you money, nevertheless that’s not always the case with the group of patrons in a hard money lender Arizona.

Every loans have quick turnaround no matter their higher fee of curiosity, nevertheless attributable to this quick turnaround, the speed of curiosity makes little to no distinction. The loans are moreover further versatile than your standard monetary establishment loans, significantly as soon as you utilize a private money lender Arizona.

Take into consideration quite a lot of these loans as you identify on rehabbing a property. It might make the entire distinction to your endeavor and stress you out far a lot much less inside the interim. Take into consideration the versatile and safe Arizona hard money loans. Whether or not or not you go private money lender Arizonaor hard money lender Arizona, you will be happy with the tip end result.
Dennis Dahlberg
Stage 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112
Phoenix AZ 85027