As a commercial correspondent lender in Massachusetts, we come across many lenders that want to do business with us. It is very hard to become a lender on our list, especially in the current economic climate that we are in.
I have found however a new source for commercial hard money, located here in Massachusetts, and that deals specifically within the state. They will occasionally go to a surrounding state.
They are primarily looking for Massachusetts commercial Real Estate ONLY. We need the following upfront to submit to this lender:
·Deals that have cash flow
·50 % collateral, preferably on property other than the subject.
That’s right; there are a few products that allow you to receive quick money in commercial. One of the hottest is a securities loan. These loans allow someone to get money at incredible rates with no verification of income, credit, etc. There are no strings on the money you can use it for anything. All you need is a substantial amount of assets in stocks, bonds or treasuries.