Private Hard Money Lender in California, Texas and Arizona: Don’t Like The Risks That Come With Many Commercial Lending Options? Then Give One Of These A Try!

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Tuesday, March 14, 2017

Don’t Like The Risks That Come With Many Commercial Lending Options? Then Give One Of These A Try!

page3-img1Different commercial lending options come with different levels of risk. But there are other routes you can take to finance your venture if you don’t feel good about any of them.

When we think about financing, we tend to think about banks, credit unions, and places like them. They are the traditional lenders; the ones most people are aware of—but not the only ones. Luckily for many with the entrepreneurial spirit, there are more commercial lending options available than the banks and credit unions.

But no matter which option you choose, there is going to be a certain level of risk you may or may not be comfortable with having. Does that mean you are screwed? Does it mean you can’t go into business for yourself? Absolutely not!

Alternative And Inexpensive Options To Traditional Commercial Lending Choices

The bank doesn’t see you as worthy of a loan, and you don’t like the idea of having to accept the terms you are being quoted from local hard money lenders. Some would say oh well, take the best of the bad deals they are getting, and hope for the best.

But you don’t have to do that. There are options other than whatever the commercial lending industry is giving you:

• Credit Cards: Crazy, right? But aren’t the interest rates kind of high to be using credit cards to finance a business? Depending on how bad your credit is—yes, but if it isn’t terrible, you can get cards with APR’s around 16 percent when the only loans you were seeing from alternative lenders had APRs in the 40 percent range.

• Business line of credit: this can be a very good option if you can get approved for it. You’ll have access to the funds you need and will only have to pay interest on whatever money you use. A business line of credit can save you when you incur an unexpected expense and help you navigate the lean times without having to tighten the belt too much.

• PayPal working capital: Many people are not aware of this as a financing option, but if you allow customers to make payments to you through PayPal, it can be a great option. Rather than do a credit check, they will take a look at your transaction history and loan you up to 15 percent of annual PayPal sales. It can be done quickly, and you don’t have to make payments. They take a cut from your daily sales.

• Square Capital: While PayPal is a great option for e-commerce businesses, Square is a great one for retail establishments. The company began as payment processing service but has expanded into the world of small business loans. Like PayPal, it will look at your sales history to determine how much you can be approved to receive. Also, like PayPal, they will simply deduct a percentage of your daily sales, so you don’t have to worry about making payments!

Traditional Commercial Lending Options Are Not Always The Right Options

We’ve been conditioned to accept the traditional ways are the right ways, and you must do things the traditional way to succeed—but that is not true. Many of the most successful business people thought outside the box to create their product. So there is nothing wrong without going outside the box to satisfy your financing needs.

Happy senior business man making his notes at workDennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender

Arizona Tel:  (623) 582-4444
Texas Tel:     (512) 516-1177
Dennis@level4funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

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About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.


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