Winston Rowe & Associates has prepared this article about private money commercial loans to provide prospective clients with a better understanding of private money commercial loans as a financing tool that many businesses overlook when they need financing.
For more information about private money commercial real estate loans, you can contact Winston Rowe & Associates at 248-246-2243 or visit them online at http://www.winstonrowe.com
How Private Money Loans Work:
Private money loans are provided by private investors, hence the term. These private money lenders wish to loan out their money at a higher interest rate than they could get from another type of investment. Private money lenders are not licensed to loan.
Applying For A Private Money Loan:
When you apply for a private money loan, the application process is going to be quite a bit different than what you are used to with a bank. You will have to fill out an intake form with basic information about you and your business. However, they use their own criteria when deciding whether or not to invest in your project. They may or may not use all of the financial ratios that typical lenders use. The approval process is usually very quick. You often do not have to go through multiple layers of the business to get approval. The lender decides individually if they want to give you the loan.
Understanding Private Money Criteria:
Often the most important criteria for the loan, is the condition of the property that you are buying. If you are buying a piece of commercial property, the private money lender will want to know everything about it. They will want to look at the property and make sure that they could resell it if they needed to. Because of this fact, they will often offer you a low loan-to-value LTV ratio of between 45% to 60% as compared to other types of traditional lenders, which offer LTV’s of up to 90%. This ensures that they can get their money back out of the loan if you were to default.
Winston Rowe & Associates has an excellent knowledge based resource for commercial real estate valuation and market analysis located at:
Winston Rowe & Associates has a core focus on building long-term relationships, delivering exceptional and individualized customer service, and positioning loan products that best achieve their client’s goals. Their preemptive problem-solving approach is perfect for clients with credit and time sensitive issues.
Winston Rowe & Associates
31408 Harper Ave
Suite 147
Saint Clair Shores MI 48082
248-246-2243
Winston Rowe & Associates has no upfront free private commercial loans in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming
