It is hard to get loans from banks to purchase properties. People are usually unhappy at how long banks take to process loan applications and it is the reason why most prefer Atlanta commercial private lending. Financial institutions are normally apprehensive to make a loan that will enable you boost your business. This is because there will be a lot of paper work to be done.
One advantage of borrowing money from a private lender is that you can easily get the property you want in the shortest time. It is because you are sure that the money will always be available. It makes you able to tap a deal whenever it is presented to you. This puts you at a better competing position than those who are busy at the bank trying to apply for loans.
Loans from private individuals have little paper work. The lenders do not give too much concern to your income or your credit but have their eyes set on the hard assets that you have especially real estate properties. They lend you money with favorable terms which you can easily meet.
Because the lenders of money do not rely on your personal finances, it makes it easy for an individual to qualify to borrow money. Nothing will stand on the way for you to get your loan approved. Not even an income verification. Provided you have hard assets to your name, then you are at a great shape to get money from lenders.
Prepayment penalties that financial institutions impose on borrowers of money can be very inconveniencing especially when your business has increased in value. Commercial lenders invest in your property but they do not take advantage of your success. The hefty penalties by banks makes private lending a better option. This will cushion you from incurring losses.
To the lender, it is a good form of business because there will be very little to worry about. There will not be any difficulties when making a decision on which application to fund. All the work is usually done by a professional underwriter who will keenly scrutinize all investments of borrowers.
There is more capital protection when you borrow money from individual commercial lenders. It is because they will only offer you a loan that is less than the value of your business. Here, the loan to value ratio is small. This means that the loan will never be funded more than seventy percent of the property value.
One advantage of borrowing money from a private lender is that you can easily get the property you want in the shortest time. It is because you are sure that the money will always be available. It makes you able to tap a deal whenever it is presented to you. This puts you at a better competing position than those who are busy at the bank trying to apply for loans.
Loans from private individuals have little paper work. The lenders do not give too much concern to your income or your credit but have their eyes set on the hard assets that you have especially real estate properties. They lend you money with favorable terms which you can easily meet.
Because the lenders of money do not rely on your personal finances, it makes it easy for an individual to qualify to borrow money. Nothing will stand on the way for you to get your loan approved. Not even an income verification. Provided you have hard assets to your name, then you are at a great shape to get money from lenders.
Prepayment penalties that financial institutions impose on borrowers of money can be very inconveniencing especially when your business has increased in value. Commercial lenders invest in your property but they do not take advantage of your success. The hefty penalties by banks makes private lending a better option. This will cushion you from incurring losses.
To the lender, it is a good form of business because there will be very little to worry about. There will not be any difficulties when making a decision on which application to fund. All the work is usually done by a professional underwriter who will keenly scrutinize all investments of borrowers.
There is more capital protection when you borrow money from individual commercial lenders. It is because they will only offer you a loan that is less than the value of your business. Here, the loan to value ratio is small. This means that the loan will never be funded more than seventy percent of the property value.
About the Author:
Tom G. Honeycutt is a full-time real estate entrepreneur in Atlanta, GA. Tom helps readers by providing practical and useful knowledge to better understand lending choices. If you are looking for Commercial Lending Broker he suggests you click here for more information.
