Hard money lending refers to a specialized type of lending in which a “hard” asset (such as a piece of real estate) is the collateral for the loan. Hard money loans tend to be for shorter periods of time (a 1-year loan vs a 15-year loan or a 30-year loan).
These types of commercial loans or bridge loans are generally “non-conforming” loans, which means that (for any number of reasons) the borrower might not have been able to qualify for traditional financing from a bank or mortgage company. The interest rates are typically higher with hard money lending, but the approval process is often quicker and easier.
As “hard money lenders,” we take pride in making it easy for our clients to borrow money. We offer quick loan funding at competitive rates, and our loan approval process is streamlined. We can provide loan approval within as little as a day, and fund the loan within as little as 48 hours.
While our commercial loan rates and bridge loan rates tend to be higher than traditional commercial lenders in the Portland area, we can lend in situations that don’t “check all of the boxes” for a conventional bank loan.
The commercial loans and bridge loans that we offer clients are often used for:
TriTalent Funding Group
See related topics: