Hard Money Loans for Commercial Property
Hard money loans are available for commercial property owner-users and income-producing properties nationwide.
The impact of the recession on business owners and other unforeseen circumstances have forced the hand of an increasing number of commercial property owners to file for Chapter 11 bankrupcty protection to reorganize their debts. Many property owners are in need of “rescue” or workout loans.
Hard money loans are an ideal solution to provide needing financing under Chapter 11.
Property owners with credit issues can benefit from the qualifying criteria for a “rescue” loan that focuses on the property’s strengths instead of the borrower.
Typical “Rescue Loan” terms are:
- Loan-to-value up to 65% with some exceptions to 75%
- Interest rates from 11-15%
- Loan points from 4-6%
- Interest-only payments for up to 3 years
- Minimal documentation needed to apply
- Fast approvals
- Loan funding in 5 to 10 days
If you are in need of a “Rescue Loan” you can apply using a Quick and Easy online request form at the main site, SmallCommercialMortgageOnline.com. Look for the button at the top of the page, Quick Qualifier Apply Online Now!