If you can get a loan, you can catapult your business into the next echelon, so why not shoot for the stars? When you are having trouble getting your commercial loan approved, it might be time to seek the assistance of hard money lenders to get you the cash you need.
Whether you are a first time investor looking at purchasing a property or a new business owner that needs cash fast to get your business off the ground, commercial loans can be a godsend. However, sometimes as a first time borrower, traditional lenders might be a little skeptical of loaning funds. That’s when hard money lenders come in handy. Just when you think you might not be able to get a loan at all, you’ll see that they can help you make your business and investment dreams come true.
Just as with any loan situation, there will be challenges that arise along the road. You will need to be prepared to handle any situation by working closely with your hard money lenders to find a win-win solution. Sometimes it's a matter of finding the right lender for the type of investment or business you have. Sometimes it’s a document or statement you’ll need to provide. Be flexible and patient, while the process can at times be frustrating, it’s important to have a lender you can trust to guide you through it all.
For investors and new business owners looking to purchase property, there are many types that these lenders specialize in like foreclosure properties, “fix and flips”, short sales, construction loans and land loans. These loans are also beneficial for business relocation that needs to happen fast as well as for borrowers that do not have the best credit score or history.
These lenders are very different than conventional bank lenders.
It’s important to know that dealing with conventional lenders are a totally different story – their application process is very detailed and often quite lengthy. There is a lot of bureaucracy and “red tape” that can be avoided with hard money lenders. If you’ve applied for this type of loan in the past, you know the road can be long and arduous. Luckily, that’s not the case with non-traditional lenders and alternative lenders offer many benefits – including an easier application process and quicker turn around time.
It starts with the right lender.
The lender is just as important as the loan itself. It becomes something of a partnership, so finding a lender you can rely on is very important. You will want to ensure they can guide you through the process but also won’t take advantage of you either. Ask around to see if business associates or friends can refer a great lender they’ve worked with in the past. Look for a local lender and don’t be shy about meeting with them and asking questions prior to agreeing to move forward. Once you find the right lender, the road to getting your loan will be much smoother!
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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