Bank loans are often hard to obtain. Most people are usually not happy with the long time that financial institutions take to process loans which makes them to turn to Atlanta commercial private lending. The bank will mostly be reluctant to offer you money that will enable you to develop your business because they will have to document several issues first.
One major benefit of borrowing money from lenders is the speed at which you get hold of the property that you target. With lenders, the money is always available whenever you need it. This enables you to get hold of a property when such a deal comes calling. It gives you an upper hand over competitors who will be scrambling around the bank applying for a loan.
There is very little documentation when it comes to private commercial lending. Lenders need not rely on your income or credit but their main concern is the assets that you have to your name. This form of money lending offers you another way of financing without strict terms which is beneficial to you as a money borrower.
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.
Prepayment penalties that financial institutions impose on borrowers of money can be very inconveniencing especially when your business has increased in value. Commercial lenders invest in your property but they do not take advantage of your success. The hefty penalties by banks makes private lending a better option. This will cushion you from incurring losses.
To the lender, it is a good form of business because there will be very little to worry about. There will not be any difficulties when making a decision on which application to fund. All the work is usually done by a professional underwriter who will keenly scrutinize all investments of borrowers.
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 major benefit of borrowing money from lenders is the speed at which you get hold of the property that you target. With lenders, the money is always available whenever you need it. This enables you to get hold of a property when such a deal comes calling. It gives you an upper hand over competitors who will be scrambling around the bank applying for a loan.
There is very little documentation when it comes to private commercial lending. Lenders need not rely on your income or credit but their main concern is the assets that you have to your name. This form of money lending offers you another way of financing without strict terms which is beneficial to you as a money borrower.
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.
Prepayment penalties that financial institutions impose on borrowers of money can be very inconveniencing especially when your business has increased in value. Commercial lenders invest in your property but they do not take advantage of your success. The hefty penalties by banks makes private lending a better option. This will cushion you from incurring losses.
To the lender, it is a good form of business because there will be very little to worry about. There will not be any difficulties when making a decision on which application to fund. All the work is usually done by a professional underwriter who will keenly scrutinize all investments of borrowers.
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 Lending Group he suggests you click here to learn more.
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