It’s been a year since you decided to be your own boss. The year spent establishing your business venture after bidding adieu to a 9 to 6 routine. Now your mind is working overtime with all the ideas that may elevate your business and its revenue streams. Your market analytics shows a high demand for your product. However, you are unable to move ahead until you address the elephant named capital in the room. Consider the following advices before proceeding ahead:
Commercial lending is an open field
Commercial lending is not the prerogative of any particular financial institution. The majority of commercial banks, mutual companies, private lending businesses and hard money lenders offer a broad range of commercial loans, i.e. bridge loan, hard money loan, commercial real estate loans, joint venture loan, etc.
You have to peruse all the opportunities – what they offer and at what rate they offer – with due diligence to finalize upon the one closest to your commercial lending needs.
Notwithstanding above, the lending opportunities are primarily linked with the overall health of your business. Before going on a lender finding spree, it’s highly admissible to take a good critical look at your business affairs. If they look credible to you, they will validate the strength and future viability of your business to your lender too!
Good Credibility = Many Options
Once you’ve ascertained that the credibility of your business is in good hands, don’t feel obliged to run to the bank straight away. They may charge less but will persuade you to apply for more than you need. Explore around, if your business credibility is built more on promise than returns then a hard money lender is a realistic commercial lending option.
Lastly, in a world more connected than we realize, going online and browsing around is also endorsed to see the market offerings and to compare and analyze different commercial loans to find the one that fits your bill.
Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.