About Commercial Hard Money Loans
Commercial hard money loans are asset-backed loans that are secured by real estate. In these lending scenarios, the borrower is usually an individual or business who needs to purchase or take cash out of equity in a commercial building and the lender is typically a private company that specializes in higher-risk loans. These types of loans can be made on any type of commercial property, including office buildings, warehouses, large residential housing units, and special-use properties like restaurants, churches, and barber shops. They generally carry higher rates of interest than conventional bank loans but can be very helpful for borrowers who need to have access to cash quickly or who have lower credit ratings and therefore do not qualify for traditional loans.
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