In a down economy or if your credit is poor, there are still opportunities to get approval for commercial loans Texas. Sometimes working with an alternative lender or going through a broker is your best bet in these circumstances.
There are many alternative options to obtaining commercial loans Texas, so even if you have dings on your credit history or the economy is making banks extra tight with their funding, doesn’t mean you are out of luck. Seeking a hard money loan would be the way to go. Talking to a broker about this route will help you get the best loan regardless of the circumstances.
Sometimes hard money loans have higher interest rates associated with them, however; there are benefits, too. These loans don’t require going through all the red tape and jumping through hoops (aka having a 700+ credit score or perfect credit history) that is sometimes required to obtain a loan through a traditional bank or other conventional lender.
Typically, when trying to obtain a hard money commercial loans Texas, the most important thing alternative lenders look at is if you are going to be able to pay the terms of the loan back. While the interest rate may be higher, you will typically be able to get the money you need for your business — and get it fast. Even though you may have higher interest rates, getting this loan can make all the difference for the growth of your company and taking your company to the next level.
Talk to a broker to figure out is a hard money loan is right for your needs.
Being honest about your situation and upfront about your needs will help your broker understand how they can best help you obtain your hard money commercial loans Texas. They can also advise you on how you need to be prepared to obtain this loan via having the proper documentation available for review. You will likely need to have documents such as credit report, business and personal finances, bank statements and other documents to show.
Getting the loan you need should not be a stressful scenario.
Getting the hard money you need to take your business to the next level can be a daunting task. But it shouldn’t bee too difficult or cause you too much stress. Remember that there are many options — so it you take one road and it doesn’t work out, don’t be afraid to try another avenue. There are a number of alternative choices when it comes to getting the funding you need to make your business a success! So call a broker today and get started!
Dennis 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
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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