Finding a Commercial Hard Money Lender in NY
Aug 31, 2016
When you are looking to expand your commercial real estate investments, sometimes a traditional bank loan is not an available option. Perhaps a recent economic bump in the road had made your credit look less than wonderful. Regardless of what your credit history might be you should consider a commercial hard money loan.
Banks and loans have gone together for a long time. They also bring a lot of sweaty palms and other signs of nervousness as a loan officer examines credit histories with a fine tooth comb and makes a judgment based on a specific number (a credit score), leaving a person or business’ hopes and dreams in the balance. These days, scrutiny is hard.
Not only is credit history a factor with banks, there is also tons of documentation to gather, such as tax records and income verification. In order to obtain a loan for commercial property, a credit score of 700 is normally required, and often the decision can take a good deal of time, resulting in that perfect property slipping through your fingers into someone else’s.
A commercial bridge loan is a simpler transaction. There are no credit score requirements. The decision is based on your existing commercial real estate assets, and it is one that goes through much faster than a traditional bank loan.
What Type of Financing Do You Want?
When you are deciding on where to go for a commercial hard money loan, you first need to find the commercial hard money lender in NY State that is in a position to best assist you. Are you purchasing property to use in a retail business, do you want to rent housing out to families, or do you need extra industrial or warehouse space?
Reliable Experience and Service
When you’re entering into a loan agreement, you want to work with a lender who knows what they are doing, and that means having experience in real estate and mortgage industries. At Riverdale Funding, LLC, that experiences surpasses three decades.
Unlike some commercial hard money lenders in NY State who broker out to other lenders, the money we lend comes directly from us, we are a privately funded lender. This means the rules stay consistent throughout your personal process. It also gives us the ability to adjust our loans to work with your situation, and with no one else to answer to, you’ll get the quick decision you need to move forward with your plans.
Riverdale Funding - Commercial Hard Money Lenders in New York
If you’re considering a hard money loan, contact Riverdale Funding. We are leading hard money lenders with over 35 years’ experience. At Riverdale Funding, we work exclusively with commercial properties in the United States, and not individual homes. We clearly outline which types of properties will qualify you for a loan .Call us at 888-368-4983 or apply online.