A loan based solely on the property used as collateral. Credit score is not checked.
Hard money business loans are mainly for businesses that don’t qualify for other small business loans. They’re secured with the business’ land as collateral. However, because credit score isn’t taken into consideration, these loans can be very expensive. If you can’t repay the loan, then you could very well lose your business’ real estate.
Interest Rates: Varies
Loan Terms: Varies
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