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Showing posts with label Arizona home loan home loan Arizona Blog 16: Hard Money Loans with Your Arizona Mortgage Broker. Show all posts
Showing posts with label Arizona home loan home loan Arizona Blog 16: Hard Money Loans with Your Arizona Mortgage Broker. Show all posts

Tuesday, May 22, 2018

Tips to Secure a Business Loan Arizona

Securing a business loan Arizona can be challenging. But following a few tips can greatly improve your chances for a fast approval.

Securing any type of loan can be a very stressful process. But the application process for a business loan Arizona can appear extremely overwhelming. Unlike a personal loan application which is fairly simple and straightforward, a business loan application requires a great deal of information about the business and even the personal finances of the owners or principles of the company. To ensure that you are investing your time in a successful loan application, you will want to be sure to follow a few simple tips that have been found to produce successful results.

The business finances are critical to any loan approval as you might expect. The company should have been profitable for at least two years to have a good chance at securing funding. Having financial statements and credit reports in good order before requesting a loan is very important and will save you a great deal of time when completing application. Also having the owner’s information readily available will make the process less stressful.

In addition to financial information, lenders want to have a good understanding of the company, its history and the experience level of the owners and senior management team. This means detailing the birth and growth of the company as well as explaining the business plan and reason for the loan request. Simply stating that it is for growth or expansion is too vague. Explain what the funds will be used for, how they will benefit the company and the expected return on the investment. Details about how the loan will help the company achieve goals in the five and ten year plan will demonstrate strong and experienced leadership and increase the lenders confidence in your business.

Think Local

Unless you have a very large and well established business, a local lender might be a better option for a business loan Arizona. Local lenders tend to place more value on business history, involvement in the community and the local economy. Large national lenders work more from a very strict formula for loan approvals where a local lender has the ability to “bend” the criteria slightly to process loans that are less favorable. Knowing this though, be certain to have a very well prepared and detailed loan application for local lenders. They will be even more motivated to learn about your business and the professional history of the management team.

Be Well Prepared

When seeking any business loan Arizona, detailed preparation is your best tool for success. Detailed financial information and history about the business will help to establish the creditworthiness of the business. This information presented to a local lender in a professional format is going to create a good first impression for you and for your business. And though the process might take some time, you will find that you stand a much better chance of getting your application approved.


Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027


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Wednesday, May 9, 2018

If You Find Experienced Hard Money Lenders, You’ll Have an Easier Time Getting Your Loan Approved

When you are looking to get your loan application approved, working with professional and experienced hard money lenders will ensure a smooth process. Level 4 Funding offers the following tips to find the right lender.

In the world of loans, finding someone that has a reputable name and that you can trust can mean the difference between a smooth application and approval process and a… not so smooth one. When you are putting the fate of your potential new business or property in the hands of a lender, trust is never more important.

Do your due diligence before you sign on any dotted lines. Look for lenders that have experience in your specific niche, and that have testimonials or references they are willing to share with you. Look online or with the Better Business Bureau to see if you can find out anything about the hard money lenders that is not on their website. You want to make sure that the company has the professional experience to do what it takes to get you the best loan for your needs. This will ensure a smooth and easy transaction.

Give credit to the lender that thinks outside the box.

A fresh or different perspective on the way the loan should be done is always worth considering. If your hard money lenders are willing to get creative to get you the best loan, take that into consideration!

It’s not just about getting the best loan rates.

While rates and your repayment schedule are obviously very important, there are other things that are important too. Sometimes it’s true that you get what you pay for, and you want to make sure you feel good about the advice that your lender providing you with. Look for a local company that is available to speak with you and answer any questions until you feel comfortable with all aspects of the loan contract. Ultimately, it will come down to trust and your gut instinct. Oftentimes, just having a “good feeling” about someone is enough to make your decision about the right lender to get your loan with. The process should be a win-win situation for both the borrower and the lender and if you are both open and honest with one another, that is a great way to ensure the agreement is ideal for all parties involved. So depending on your needs, it’s not always experience, or a local company or fresh creative thinking that wins the day — it’s more about trust and who you really feel can get you the best loan for your needs. Level 4 Funding is a reputable and trustworthy company that would love to be your reliable hard money lenders. Level 4 agents are available for online live chats or give them a call to see how they can be of help to you as you navigate the sometimes unchartered waters of trying to obtain a loan.


Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC 
Private Hard Money Lender
Arizona Tel:  (623) 582-4444
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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Wednesday, March 28, 2018

Why small town businesses are finding it hard to get commercial loans

Lenders are withdrawing from less populated areas, and small businesses in rural areas are facing difficulty finding sources of commercial loans.

Local banks have been consistently closing in rural areas. The in-person service, which was once so crucial for small business financing, is quickly becoming a thing of the past. Banks are relocating to more populated areas, and larger banks continue to consolidate smaller community banks. These larger banks use algorithms, rather than personal relationships to evaluate a borrowers creditworthiness.

This trend is making it harder for many rural borrowers to qualify for business loans.The value of small business lending in rural areas is now half of its 2004 peak. Much of this decline is a result of the recession, but the amount of small business lending in urban areas only declined by a quarter over this same period. The numbers demonstrate that business owners in more populated areas are not facing the same difficulties as their rural counterparts.

The decline is having a drastic impact on business activity in less populated areas. Research by Colorado State University economist Stephan Weiler demonstrates a link between the reduction in small business loans and new business formation in rural areas two to three years later. His research did not reveal a similar pattern in urban areas.

Community banks have been leaving rural areas for decades, making commercial loans harder to find

There has been a measurable decline over the past 20 years in the number of smaller community banks in rural areas. These community banks were once the sole source of credit for many small businesses in these areas. 625 of Americas 1,980 rural counties have no locally owned community bank. 35 rural counties in America have no bank at all, and 115 have only one branch.

Lenders cite specific difficulties in rural areas."It's very hard to find highly competent commercial loan officers who want to live in these small towns and can produce an adequate amount of production," said Jerry Rexroad CEO of Carolina Financial Corp.

Rural businesses also lack the detailed information which is used by many larger banks to assess the creditworthiness of borrowers. However, economic difficulties in rural areas make it harder for banks to do business.

Economic difficulties are making commercial loans harder to find in many areas

Rural areas face unique economic challenges. Employment growth suffers due to weak school systems. Local businesses suffer due to competition with big-box stores and few small business owners have seen their credit situation improve since the recession. Business lending in rural areas has not picked up since the recovery began. Although new small dollar loans have been on the rise, rural areas have only seen a modest increase.. Only 10 percent of new small business loans, roughly 22 billion, have been issued in rural areas since the recovery began.

It remains unclear whether the banks themselves or the economy in these areas are to blame these hardships. Nonetheless small town businesses will face difficulty securing financing for the foreseeable future.


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
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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.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Saturday, March 24, 2018

How to Find Hard Money Lenders

There are various reasons that people turn to hard money lenders, but knowing the benefits is only half of the challenge. Now, you have to find the one that is right for you.

Hard money loans are often issued by individuals or companies. At one time, they were considered “last resort” loans for people or businesses with imperfect credit. In today’s world of fix & flip investors and contractors in need of quick funding, they are a part of most businesses and individuals lending portfolios. People often turn to hard money lenders when they are in need of a bridge loan that keeps them afloat until a property sells or is renovated. Other’s use this type of loan due to time constraints and when initial capital is required in a matter of weeks instead of months, such as when a hot property hits the market.

So, just where do you go to get these quick-to-fund loans? Ideally, it’s best to work with a lender that specializes in your specific business model or real estate segment. For instance, a hard money lender that understands construction loans will offer monthly quick-payout draws as well as interest-only payments, both of which are designed to take the stress off you and your company as you progress through the building process.

There are also hard money lenders that specialize in the fix & flip or buy-and-hold real estate segments as well as multifamily, office, warehouse and storage complexes. If you do not have a direct reference from a fellow business associate, you can turn to the many listings on the internet. If using this approach, be sure to look for recommendations from established businesses and don’t be shy when addressing your concerns. If you find a qualified lender that you can trust and has a large rolodex of private lenders to draw on, you will most likely find yourself turning to this funding source time and again for many of your capital needs.

Things to Consider When Interviewing Lenders

There are a few basic questions that you will want to address when undergoing an interview with a potential lender. One of the most important is their loan-to-value ratio (LVR). Because hard money loans are asset based, the loan value is determined by the appraised value of the property. Some lenders will use the potential value of the property once renovation has been completed, otherwise known as the after-repair-value or ARV. This approach, however, is very risky and, for those lenders willing to take this chance on you and your abilities, will often mandate a higher-than-average interest rate. Many lenders stick to about a 70 percent loan on the value of the property.

At Level 4 Funding, our loan-to-value goes as high as 90 percent with 100 percent of rehab for fix & flippers.

Of course, loan-to-value is just part of the equation. The other all-important consideration is the interest you’ll be paying on your loan and the terms the lender offers. At Level 4 Funding, our interest rates start at 7.99 percent with terms anywhere from 3 months to 5 years. Call us today for a no-obligation quote.


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
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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.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Saturday, March 17, 2018

How to Raise Your Business Credit Score for Commercial Loans

Your business credit score will play a role in approval for commercial loans. If your business is just starting out, you might not have an impressive credit score, but there are things you can do to boost your credit score to avoid denial.

Credit score is reflection of your financial history and that means you want it to be great because it says a lot about your business’ credibility and stability. It also plays a part in getting approved for extra funding and is a good way to avoid having to pay higher interest rates or higher fees.

There are things you should do to boost your credit score. One of the easiest ways to do this is to always make payments on time to creditors. Making payments early will boost your credit score even more. Those with perfect credit scores are known for having a track record of making payment early. Start doing this sooner rather than later, the longer you do this, the better your score. You want to use your credit cards, this can help increase your credit score, but avoid hitting the maximum limit.

Keep in mind that public records will also play a role in your credit score on top of getting approved for commercial loans. Things filed like judgements, liens and bankruptcies are public record and could have a negative impact on your credit score. That means all of the hard work you have put in boosting your score could go down the drain. You want to avoid having anything financially wrong on your financial record.

Borrow from the right lenders, ones that actually report to credit bureaus.

It is okay to be picky when it comes to choosing the right lender. Commercial loans can boost your credit score but making payments on time, but they need to be reported to the credit bureaus. That is why you should always ask your lender beforehand if they report. Banks usually always report, but it is not a requirement for lenders to do so.

Building a better credit score has its many benefits.

Having a good credit score will help with many things like lower interest rates on commercial loans or credit cards. Plus, you will usually be able to come to better terms with supplies, attract new customers and establish a good reputation with existing customers. Of course, credit scores can be calculated in a variety of ways and can vary, but always try to keep as up to date as you can on your current credit score.



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
clip_image002clip_image004clip_image006clip_image008

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.

Technorati Tags: commercial loans,commercial lending,commercial mortgage

Tuesday, April 15, 2014

Time to Talk to Your Arizona Mortgage Broker?

Traditional soft money loans are great. When you can get one. Banks are especially tight fisted
Home Loans
Arizona Mortgage Broker, Arizona Home Loans
right now when it comes to giving money to those who want to use it for property. Banks are, as everyone knows, currently under a lot of scrutiny.
Arizona Mortgage Broker
Trust Deed Investing, Arizona mortgage broker
However, so are you. In order to even get in the door of the office of a loan officer at a bank you need an impeccable credit score and that’s a little difficult to acquire. It may not even really exist anymore. People have had such a difficult time lately because the economy has been rough. You may have already spoken to your Arizona mortgage broker about how hard it has been for you. They might have told you not to get a traditional loan, they might have told you that there is another way. That’s when a hard money loan would come in.
Your Arizona mortgage broker might say to you that you don’t need to worry about your credit because with a hard money loan you don’t need to even think about your credit. It shouldn't be a blip on your radar because you will have a private money lender happy to hand over the money with a lot less of a fuss than what it takes to get a traditional loan.
Your traditional loan is going to also take a lot longer to receive than your hard money loan, which will be quite fast and give you the amount of time you need. Not a shortened time frame like a traditional loan. Don’t fear the term ‘hard money loan’ because you will see that it could be the best thing that ever happened to you and the property you are trying to flip, purchase, or save. Remember to look into hard money loans.

Arizona Hard Money

Arizona Mortgage Broker

Arizona Mortgage Broker
Arizona Mortgage Broker
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC

Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027