Commercial Hard Money Loans Without All the Paperwork?
A rumor about commercial hard money loans is on the rampage. More and more business owners are starting to believe it.
What is it? Likely you already know.
They say hard money business loans require very little to no documentation (a.k.a. red tape) from direct hard money lenders.
But is this true? What's the real deal? Here's …
Your Question
Can I get hard money loans without all the supporting documentation requests (a.k.a. red tape)?
Real Answer
Can I get commercial hard money loans without all the supporting documentation requests (aka red tape)?
It’s vital to realize that all lenders are in this business to make money while minimizing risk. So while hard money lenders do work with high risk individuals, they don’t lend on blind faith.
They still perform rigorous due diligence based on underwriting guidelines of their own.
Although they request much of the same documents as traditional lenders, their underwriting is based on different criteria. For example, they request business tax returns, but don’t frown upon low or negative income.
Also, they request personal tax returns with a view to making certain that you file the. Not so much to review your personal income.
You can still expect a measure of red tape on hard money loans.
If you're looking for a quick commercial loan with fewer documentation requests try also for a stated income/asset commercial loan.
These loans have tremendous benefits that hard money loans don’t, including..
- Lower rates
- Longer terms, and even
- Less red tape
As a seasoned buisness loan broker, guide-to-business-loans.com can direct you to the best lenders
for these hassle free, low red tape commercial loans.To learn more information or to get started with a hard money or stated commercial loan, feel free to
contact us
(630) 755-6979
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