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.
When dealing with lenders, you get hold of that property you intend to buy faster than when you try to get a loan from a bank. It is because the money from private money lenders is readily available. It enables you to tap a good deal when it comes your way. This may not be the case if you were among those applying for a loan in the bank.
Private loans have substantially less documentation. It because they do not rely on the income or credit of the borrower. Instead, they hedge their bets on the hard assets that you have most of them being real estate properties. They offer an alternative financing with better terms.
For you to qualify for a loan from a lender, the only thing you need to have are assets that will back you up. Individual money lenders do not check your personal finances or income verification. The major thing that they mostly concentrate on are the assets. Therefore, you will not meet any difficulties while you are trying to borrow money.
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.
Private money lending, through a lender leaves very little for you as an investor to worry about. The most challenging part of this is deciding on which loan applications to fund. Even if this is so, it is simple because expert underwriters will have thoroughly screened all the potential investments.
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.
When dealing with lenders, you get hold of that property you intend to buy faster than when you try to get a loan from a bank. It is because the money from private money lenders is readily available. It enables you to tap a good deal when it comes your way. This may not be the case if you were among those applying for a loan in the bank.
Private loans have substantially less documentation. It because they do not rely on the income or credit of the borrower. Instead, they hedge their bets on the hard assets that you have most of them being real estate properties. They offer an alternative financing with better terms.
For you to qualify for a loan from a lender, the only thing you need to have are assets that will back you up. Individual money lenders do not check your personal finances or income verification. The major thing that they mostly concentrate on are the assets. Therefore, you will not meet any difficulties while you are trying to borrow money.
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.
Private money lending, through a lender leaves very little for you as an investor to worry about. The most challenging part of this is deciding on which loan applications to fund. Even if this is so, it is simple because expert underwriters will have thoroughly screened all the potential investments.
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 Best Atlanta Commercial Construction Lending he suggests you visit his friend's for more information.
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