When there is a commercial real estate purchase that requires funding, Atlanta Direct Private Money Lenders can process the loan quickly. They routinely fund loans anywhere from $75,000 for a smaller building up to a million dollars and more. In many instances the upper limit is 65 percent of the value of the property being purchased.
The loan money might be required to stave off a foreclosure, pay a legal judgment or help a business owner overcome a cash flow problem. In the state of Georgia they will provide the loan when other lenders will not do so. Using their extensive knowledge and experience they are able to evaluate and process the loan more rapidly.
Hard money lender will approve high interest loans to land developers, real estate investors and builders. The funds can be used for property acquisition and developing. These loans present a high risk to the lender and thus, have high rates of interest. The primary requirement from the borrowers point of view is the fast approval and disbursement.
If time is of the essence, the private lender can provide a yes or no answer to the applicant very quickly. He is familiar with the real estate market, which enables him to make the quick decision. There are traditionally no application fees. A closing on can be scheduled in a short time and it is structured to suit the borrower.
Examples of some of these types of loans granted in and around Atlanta were for two and a half million dollars for a vacant building, $450,000 for an occupied retail building and $325,000 to refinance a medical building in Savannah. One lender has provided over thirty million dollars worth of loans for commercial transactions in the state of Georgia.
Loans are granted to realtors, brokers, attorneys and real estate developers. They understand the borrowers have a need to move fast to purchase a property for development or rehabilitation. The terms are discussed and structured to suit the needs of both parties. The entire process is done faster than any bank or other lender can manage to do it.
When attempting to avoid foreclosure or if an existing business needs funding fast, the Atlanta Direct Private Money Lenders are the ones who can help. A bank may or may not be willing to grant the loan. However, even if it would, the application and approval process would negate the borrowers ability to close the deal that needs to be closed in a short time. The short term lender will explain all terms and conditions related to the repayment of the loan.
The loan money might be required to stave off a foreclosure, pay a legal judgment or help a business owner overcome a cash flow problem. In the state of Georgia they will provide the loan when other lenders will not do so. Using their extensive knowledge and experience they are able to evaluate and process the loan more rapidly.
Hard money lender will approve high interest loans to land developers, real estate investors and builders. The funds can be used for property acquisition and developing. These loans present a high risk to the lender and thus, have high rates of interest. The primary requirement from the borrowers point of view is the fast approval and disbursement.
If time is of the essence, the private lender can provide a yes or no answer to the applicant very quickly. He is familiar with the real estate market, which enables him to make the quick decision. There are traditionally no application fees. A closing on can be scheduled in a short time and it is structured to suit the borrower.
Examples of some of these types of loans granted in and around Atlanta were for two and a half million dollars for a vacant building, $450,000 for an occupied retail building and $325,000 to refinance a medical building in Savannah. One lender has provided over thirty million dollars worth of loans for commercial transactions in the state of Georgia.
Loans are granted to realtors, brokers, attorneys and real estate developers. They understand the borrowers have a need to move fast to purchase a property for development or rehabilitation. The terms are discussed and structured to suit the needs of both parties. The entire process is done faster than any bank or other lender can manage to do it.
When attempting to avoid foreclosure or if an existing business needs funding fast, the Atlanta Direct Private Money Lenders are the ones who can help. A bank may or may not be willing to grant the loan. However, even if it would, the application and approval process would negate the borrowers ability to close the deal that needs to be closed in a short time. The short term lender will explain all terms and conditions related to the repayment of the loan.
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 Atlanta Hard Money Financing Brokers in GeorgiaHe suggests you check out the website iFund International