Personal and Business Loans

Regardless of bad or poor credit history, you can qualify for a bad credit personal loan that will meet not only your funding needs but also help to improve the derogatory appearance of your credit file. A little research on your part can yield great savings on your behalf, as well.

Bad credit borrowers tend to carry a stigma around with them that traditional walk-in banks look at with disdain. Most old-school lenders will not give you the time of day, let alone a personal loan. That is why a lot of borrowers are turning to the Internet for online lenders who specialize in financing those with less-than-perfect credit scores.

Money Now For Things You Need

You can borrow money for any reason. Perhaps you need to consolidate (or catch up on) other bills, take a trip, or pay for education. It will provide you with the money you need when you need it; online lenders also tend to have the best rates because there is more competition online than there is between your hometown lending institutions. Read the rest…

How Do You Market To Private Money Lenders? As I’ve said before, every business on the planet is in the business of MARKETING.

Yes, that includes you.

First and foremost you are a marketer… second you are an investor. You must know how to get leads in order to even have a chance to put your investment knowledge into action.

So, to get private money lenders for your real estate investing business you must find the people who have money.

Who Has Money?

* Your Family and Friends -Do you have family members who have money that they are earning between 0-5% on? I’m sure you do. Do you think they would want to double the rate of return on their money? I bet they would. Read the rest…

Non-Recourse or No-Personal Guarantee Loans: Fact or Fiction

There are a lot of people talking about getting so-called “non-recourse” loans, or loans without personal guarantees for your business. These loans aren’t easy to find, since most lenders require guarantees. So the question is, are personal guarantees the cherry on a lender’s sundae, or an essential part of the business credit deal?

A personal guarantee is when a business owner that has a business credit line agrees to personally be responsible to pay for the loan in the event that the business defaults. Read the rest…

Hard money commercial loans should only be considered after the borrower has done an extensive amount of research with other sources such as banks and conventional lenders. Borrowers should submit their file to at least 10 of these traditional sources (or have an experienced broker run the file) before they consider hard money.

Why? Hard money is very expensive. Market rates are currently 15% interest only with 6 points on the front of the loan. And the term is normally short at 12 – 36 months. Read the rest…

How much collateral is enough to receive a favorable review of your small business loan? Most bankers, or institutional lenders want as much collateral as they can get away with. How do you present the package will control how much collateral you end up forking over to the banker.

How much of a down payment do you need to buy some thing, be it a property or a vehicle?

The rule of thumb is whatever you are prepared to come up with to make the deal.

So, let’s look at this from the lender’s point of view, first, shall we? Thank you, we shall! Read the rest…