Commercial Lenders California: Hard Money is In
Commercial lenders california, hard money is in. California is currently experiencing rising economic growth, as a result, businesses are expanding and are in need of more space. The real estate and rental leasing industries accounted for nearly a quarter of California’s economic growth in the second quarter, according to a report released Monday by downtown’s City National Bank and consulting firm Beacon Economics. What does this mean? The market for mortgage financing is expanding, and the need for financing commercial real estate projects is growing along with it.
Overall, the state’s economy grew at a 4 percent annual rate in the second quarter, according to the report. That’s up from a 2.5 percent decline in the first quarter and puts California more in line with the U.S. economy’s 4.2 percent growth. The state, in addition to a surge in commercial real estate construction, is experiencing a rise in energy production investment and indirect growth in the flow of goods due to increased defense spending resulting from conflicts in Iraq and the Ukraine. This rise in logistics and the flow of goods fueling them will likely result in the development of commercial and warehouse space.
Commercial hard money loans represent a very useful tool in financing commercial real estate ventures. Because conventional mortgage loans require a lengthy and rigorous application process, those looking to capture the financial benefits of California’s economic growth and commercial development will find solace in hard money loans as it provides a more flexible and quick alternative to conventional commercial lenders California.
Contact the specialists at HML Investments today for further information regarding commercial hard money loans.