We offer San Bernardino hard money loans for rental property. On this transaction we were able to assist a client looking for cash out on a rental property owned free and clear. The cash out was to address some business debts as well as to invest in new machinery to increase their business income level.
On this hard money loan transaction in San Bernardino our clients had purchased the property as a rental a few years prior. The property had a stable tenant and the loan request was for an amount that made the loan to value ratio quite attractive to our investment group. We were able to structure a loan that closed quickly for our clients. This allowed them to take advantage of a timely business opportunity. In addition, we were able to avoid a full appraisal being required due to the low loan to value. Instead we ordered a quick BPO to confirm value and went to docs.
For business owners who also own property, using the equity in property owned as collateral for a hard money loan can often times be a quick way to access needed capital to take advantage of opportunities. Our process is typically very swift. For business purpose loans the main criteria for underwriting is the equity in the home. Small business loans may have more attractive rates, but often times can take too long for small business owners in need of capital now.
We can help with San Bernardino hard money loans for most property types. Our hard money loans are typically interest only, and terms can range from as short as 6 months to as long as 30 years. Wile most of our loans range from 2-5 years in term length, we are flexible and often able to structure a loan to meet the needs of our clients. All of our funds are sourced from private sources, so the underwriting process is on a make-sense basis. For more information, please read more about our San Bernardino hard money lending or call us today at 877 462 3422 to discuss how we can help you access the capital needed to improve your business.