Two Main Categories of Hard Money
Hard money is a lending product used by individuals and businesses. It can be used to finance acquisitions, recapitalizations, or growth projects. When looking to use hard money, it's important to understand the different types available.
There are two main categories of hard money: term and non-term. Term refers to loans that have a set expiration date, while non-term loans can last indefinitely. You can look for the best South Floridas #1 Hard Money Lender & Private Money Lending from online sources.
Non-traditional borrowers who may be best suited for hard money include entrepreneurs, small business owners, and real estate investors. These types of borrowers often have no access to traditional credit or bank financing and need short-term liquidity to grow their businesses or investments.
Hard money is a type of asset with intrinsic value that can be used for collateral in financial transactions. Hard money assets are typically coins, precious metals or other forms of currency that are generally not controlled by central banks.
Term loans offer a number of advantages over non-term loans. They're typically easier to get approved, since lenders know there's a finite amount of time for the loan to be repaid. Term loans also provide stability for investors, who know the terms and conditions of the loan in advance.
If you're considering using hard money, it's important to consult with an experienced lender. Lenders who specialize in hard money products often have more flexible terms and are able to provide customized solutions for borrowers.