It is hard to get loans from banks to purchase properties. People are usually unhappy at how long banks take to process loan applications and it is the reason why most prefer Atlanta commercial private lending. Financial institutions are normally apprehensive to make a loan that will enable you boost your business. This is because there will be a lot of paper work to be done.
One advantage of borrowing money from a private lender is that you can easily get the property you want in the shortest time. It is because you are sure that the money will always be available. It makes you able to tap a deal whenever it is presented to you. This puts you at a better competing position than those who are busy at the bank trying to apply for loans.
Loans from private individuals have little paper work. The lenders do not give too much concern to your income or your credit but have their eyes set on the hard assets that you have especially real estate properties. They lend you money with favorable terms which you can easily meet.
Because the lenders of money do not rely on your personal finances, it makes it easy for an individual to qualify to borrow money. Nothing will stand on the way for you to get your loan approved. Not even an income verification. Provided you have hard assets to your name, then you are at a great shape to get money from lenders.
When your business is thriving and is earning you a lot of revenue, the last thing you want to incur are penalties that come up due to a loan. Banks usually penalize money borrowers heavily unlike private lenders. The latter pays more attention to your assets instead of your success. This is beneficial to you as the borrower because you are able to avoid the financial losses that comes with prepayment penalties.
The lender will not need to worry much when contemplating which loan application to fund. This is mostly challenging when several applicants come to you to borrow cash. Professional underwriters will always be there to keenly evaluate the investments of applicants which makes the work easier for the individual lending money.
There is more capital protection when you borrow money from individual commercial lenders. It is because they will only offer you a loan that is less than the value of your business. Here, the loan to value ratio is small. This means that the loan will never be funded more than seventy percent of the property value.
One advantage of borrowing money from a private lender is that you can easily get the property you want in the shortest time. It is because you are sure that the money will always be available. It makes you able to tap a deal whenever it is presented to you. This puts you at a better competing position than those who are busy at the bank trying to apply for loans.
Loans from private individuals have little paper work. The lenders do not give too much concern to your income or your credit but have their eyes set on the hard assets that you have especially real estate properties. They lend you money with favorable terms which you can easily meet.
Because the lenders of money do not rely on your personal finances, it makes it easy for an individual to qualify to borrow money. Nothing will stand on the way for you to get your loan approved. Not even an income verification. Provided you have hard assets to your name, then you are at a great shape to get money from lenders.
When your business is thriving and is earning you a lot of revenue, the last thing you want to incur are penalties that come up due to a loan. Banks usually penalize money borrowers heavily unlike private lenders. The latter pays more attention to your assets instead of your success. This is beneficial to you as the borrower because you are able to avoid the financial losses that comes with prepayment penalties.
The lender will not need to worry much when contemplating which loan application to fund. This is mostly challenging when several applicants come to you to borrow cash. Professional underwriters will always be there to keenly evaluate the investments of applicants which makes the work easier for the individual lending money.
There is more capital protection when you borrow money from individual commercial lenders. It is because they will only offer you a loan that is less than the value of your business. Here, the loan to value ratio is small. This means that the loan will never be funded more than seventy percent of the property value.
About the Author:
Tom G. Honeycutt is a full-time real estate entrepreneur in Atlanta, GA. Tom helps readers by providing practical and useful knowledge to better understand lending choices. If you are looking for Commercial Lending Solutions he suggests you click here for more information.
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