Commercial Property Loan
If you are in the market for a commercial property loan you have probably already found out how difficult it is to get a loan from a bank or conventional lenders in the current marketplace. For those who cannot get approved for a commercial property loan from a conventional lender, there are lenders that focus on private money lending. Private money lending deals with private investors and the use of asset backed loans. These private loans are commonly referred to as “Hard Money” loans and are backed by a hard asset such as a piece of property.
Commercial hard money loans are offered by private lenders such as HML Investments in order to meet the rising demand for private money among borrowers. While loan terms vary between different lenders, HML offers commercial hard money loans up to 50-70% LTV with interest rates varying from 8-14%. Factors such as credit history and experience often have an effect on interest rates, although credit is less of a concern when dealing with private. Hard money loans mainly look at the value of the property because the loan is secured by the hard asset (real estate). In the event the borrower is unable to meet the debt obligations laid out by the loan terms, property acts as collateral for the lender. Hard money commercial lending offers many benefits for both borrowers and lenders. The rising commercial real estate market makes it possible for borrowers of private money to move towards success with their commercial ventures.
Contact the specialists at HML Investments today for more information about the commercial property loan process.