Do you need money for many reasons ? Looking for lending programs guide? Interest rates: The interest rate should be affordable for a business owner. Hard money lenders have higher rates than traditional commercial real estate loans but are easier to obtain. Identify a solution that is most feasible for your business’s needs.
Why are you seeking a personal loan? Is it to renovate your house? Is it to repair your car? or is it for an event such as a wedding? Knowing exactly how the funds will be spent will help you narrow down potential lenders. Not all lenders give you the freedom to use their funds in any way you like. Some lenders tend to limit or restrict the use of funds for certain purposes. For example, Payoff only allows funds to be used for credit card debt consolidation. See extra info on Property refinance.
Flexibility: Personal loans are flexible in nature. You are under no obligation to use the loan amount in a specific way. You can use it for supporting your business expenses, go on a vacation, pay for a wedding, make a major purchase, or renovate your home. Such flexibility from personal loans makes them a preferred choice for a number of situations, especially where unexpected expenses arise. Though they are a lucrative tool for personal financial needs, personal loans can potentially land you in serious debt and associated troubles. We have compiled a list of the important factors that should be considered before applying for any type of personal loan.
The classic security for a loan is property, but in fact a wide range of things can be used as loan collateral. These include equipment, vehicles, inventory, accountants receivable and even old fashioned cash although this is a rarity. Both residential and commercial property can be used, as well as agricultural land. Even the open market value of the business itself can be used as security in some instances. Loan providers will perform their own independent valuations of the collateral you’re offering. You can still sell the asset you’ve offered as collateral during the running of the loan, but only if you’ve got another form of security to offer in its place.
What is a mortgage? It is a loan from a bank or building society that lets you buy a property. You then pay back the amount you have borrowed plus interest over a period of around 25 years, although you can take them out over longer or shorter terms. The mortgage is secured against your property until you have paid it off in full. This means the lender could repossess your home if you fail to repay it. You can get one either on your own or held jointly with one or more people.
Greenlight Funding is a full service loan servicing firm offering a variety of consumer and commercial loan products including multi-family, business acquisition, rental property, working capital, construction, fix and flip loans, and residential mortgages. We are dedicated to helping you throughout the process. Submit your inquiry today and see how much lower our rates are than the big banks. Then fill out our short application to see if you qualify and obtain a pre-approval letter.
Business Name: Greenlight Funding, Manhattan
Address: 99 Wall Street, Suite 1605, NY, NY 1005