Commercial Lenders in California
California is currently experiencing rising economic growth, as a result, businesses are expanding and are in need of more space. This presents an excellent opportunity for commercial lenders in California. 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.
Following the recent housing market crisis, many individuals seeking mortgage loans from conventional banks find it difficult to borrow. This could be that the recession gave way to many a tarnished credit scores, or that incomes have fallen due to fallen demand. Conversely, investors might find that this upward trend in commercial real estate demand puts added pressure on immediate settlement of lending arrangements to close the deal and get into the market as soon as possible. Either way, the common thread between owners/operators and investors find that commercial hard money provides them the opportunity to fill a niche market and fill it fast.
Southern California hosts some of the most desirable commercial property space in the country. The thriving consumer market in Southern California makes it a popular destination for companies to develop property and set up shop. Commercial lenders in California offering commercial hard money loans bear a striking resemblance to residential hard money loans (in this sense, lending to those who are unable to obtain more traditional financing due to poor credit, income stream, or other environmental factors). On the other hand, other commercial hard money loans are made to those representing unique circumstances where underwriters are reluctant to provide loans. i.e. churches, retirement homes, x-rated establishments etc. These borrowers represent a unique niche for commercial hard money lenders.
Contact the specialists at HML Investments today for further information about commercial hard money loans.