Some business owners and commercial real estate investors are challenged with today’s lending restrictions. Alternative commercial real estate financing is not commercial hard money. Opting into a specialty financing loan with a conservative rate is not a bad option if you were declined by your local bank. The bank may not have liked the property type or industry you were purchasing or refinancing. Getting approved for commercial real estate financing is not always easy, perhaps your personal credit scores may have not qualified you for traditional commercial real estate loan. If you are opting to finance your business or commercial real estate property, it is a good to review your credit at Experian or MyFico 60 days prior to any financing decision on your property.
Commercial Hard Money Alternatives
Commercial hard money doesn’t necessarily mean expensive; it may cost a slight higher interest rate than a conventional commercial loan. Consider commercial hard money financing as bridge between two gaps, point A being the starting line, and point B being the exit strategy, refinancing out of your commercial hard money loan or selling the property. Business owners and commercial real estate investors elect commercial hard money for one of the following criteria:
- Distressed Commercial Property
- Exiting out of a balloon commercial loan that has already expired
- Foreclosure or a failed loan modification bail out
- Personal Credit issues, past, present or both
- Specialty Finance
- Unique Property Type
South Florida commercial real estate properties lending criteria click here.
For more information on our alternative commercial real estate loans locally in Palm Beach FL and Jupiter FL, please fill out the online contact form about your concerns or give us a call at 855.477-9007 . Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.
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