Spending and waiting months or years to qualify for a loan can be difficult and costly. Thankfully, there are many solutions available to entrepreneurs that don’t require extensive financing and lengthy wait times. If you’re looking to get funding quickly, consider applying with BridgeWell Capital LLC as your commercial hard money lender florida BridgeWell Capital LLC has helped small business owners in need of funding in the Florida area secure loans of varying amounts since 2002.
Importance of Commercial Hard Money Loans
Commercial hard money loans are beneficial for those who need extra capital to finance real estate. These loans are easier to obtain and typically come with lower interest rates. They offer a quicker approval process, too. It’s also easier to use commercial hard money loans as security on a loan, which means that lenders don’t need any other collateral like home equity to secure the loan.
Advantages of these Loans
Private loans are typically more expensive and can have complicated application requirements, like additional security to be put up by the borrower. Hard money loans provide short-term funding, usually in a matter of days with little or no credit check. Instead of securing the loan with one asset, hard money loans often use a combination of assets to secure the loan. Commercial hard money lenders florida BridgeWell Capital LLC
Commercial Hard Money Loans
There are a number of disadvantages to getting a commercial hard money loan that needs to be considered. First, since the term of a commercial hard money loan is generally less than 1 year, the interest rates are often higher than what you might find with traditional loans. Second, this type of loan is generally only good for businesses who need funds quickly – they cannot be used to start a business or get credit-worthy customers. Third, these loans cannot be used for some types of properties such as residential or industrial land.
Loan Process
BridgeWell Capital LLC is a commercial hard money lender with offices in Florida and Georgia. We offer unsecured loans of all sizes at competitive rates and terms. We focus on not only providing financing for real estate projects, but also working with our borrowers to establish an ongoing relationship. That means you can get the funds you need to start your project today and access more funding in the future, if needed. To learn more about how we work with entrepreneurs who need financing, please contact us today!
Documents Required
commercial hard money lenders florida BridgeWell Capital LLC. No matter what your reason is for needing funding, you will find it easier to work with a commercial hard money lender than a traditional bank. A commercial lender has the experience to see beyond bad credit and defaults. They can make a decision in a day or two rather than dragging out the process for weeks on end.
Types of Lenders
BridgeWell Capital is a commercial lending company that provides hard money loans to small and mid-sized companies in the form of asset-based financing. BridgeWell has been a leader in the industry for over 20 years, backed by its deep knowledge of loans and close relationships with investors. It’s a family owned business, as each member of the Bridges made their own decision to pursue lending opportunities together.
Tips to Avail the Best Deal
Consider what type of property you want to buy and how much you’re able to put down. Be willing to provide a significant portion of the down payment in order to qualify for better rates and terms. Find out how much cash flow the property generates and make sure that your total monthly payments are affordable in relation to the cash flow. Seek the help of commercial hard money lenders Florida bridgewell capital llc if it’s difficult for you to meet those standards.
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