Finding a Broker for Hard Money Commercial Loans

Hard money commercial loans are private loans offered to business owners needing immediate cash. There are several types of hard money commercial loans available for various business scenarios and goals. If you're interested in a hard money commercial loan, first you'll need to find a broker, and then you'll need to select the type of loan that best fits your needs.

Search Online

The easiest and quickest way to find a broker for hard money commercial loans is to look online. There are hundreds of hard money lenders eager to help business owners meet their financial needs. Simply use a search engine, such as Google or Yahoo, to find a hard money commercial loans broker that seems trustworthy (not all are). Do not share personal information until you have verified that the lender is reputable and reliable. You can check the Better Business Bureau's website to get a complete overview of each broker's customer service ratings and overall company grade.

Ask For References

Another way to find a broker for hard money commercial loans is to ask around. Visit your local bank, contact your financial advisor, or ask friends and family if they know of a responsible, dependable broker. Weeding out reputable brokers from non-reputable brokers is of the upmost importance, because you don't want to be bombarded with hidden fees or penalties (or worse) after signing the dotted line.

Speak With Them

Just as borrowers get "interviewed" by lenders to assess their needs and potential risk, borrowers should interview lenders to gather information about the company history, policies, and regulations. It's best to speak with your potential broker in-person or over the phone, that way you can easily separate fraudulent brokers from honest lenders who genuinely want to help business owners. If you discover a potential online lender, find a phone number for which you can call and speak with a representative. If the online broker does not offer a phone number or any sort of contact, do not do business with them.

Types of Hard Money Commercial Loans

Once you've found a reputable, honest broker, speak with them about the various types of hard money commercial loans.

  • Hard Money Bridge Loan - This is a quick, short-term loan that bridges the gap until a longer-term loan or financing is in effect.

  • Hard Money Acquisition Loan - This helps business owners acquire property.

  • Hard Money Development Loan - This loan helps business owners develop and improve property.

  • Hard Money Construction Loan - This loan is used to construct a new building or drastically improve existing property. Land is generally used as collateral to back the loan.

Search online or speak with a hard money commercial loans broker today to find out which loan type is right for you.