Business Loans and Real Estate – Columbia, SC
Obtaining financing for a business is sometimes difficult due to the many qualification requirements that banks need you to fulfill. You have to make a down payment as well as provide collateral for the loan in form of a valuable asset such as equipment or a property. These are things that some small businesses may not have thus end up being denied loans from traditional lenders. But, there is no longer a need to worry about obtaining business loans or commercial reals estate financing as we are here to help you. We provide unsecured business loans Columbia for any type of business, either long term or short term. Also, we have hard money loans. Why not give us a try and finance your project in ways you never knew existed?
Business Loans Columbia
We offer unsecured business loans for existing and startup companies. Our loans cater to short term and long term business needs. The type of loan you acquire will be determined by how you intend to spend the money. We offer several loan products that meet short term financing requirements for small businesses.
When you identify your investment when borrowing money, be it the onset of a new project or undertaking a huge purchase, a term loan would be more ideal for you. A term loan is a loan where you receive cash in lump-sum at once where you are required to repay the loan over a fixed period. The short terms we provide have different term lengths which give you flexibility in repayments.
The interest payable for the loans and the total overall cost is determined by the type of loan you obtain. If you opt for a short-term loan, you will incur a higher interest rate but the overall cost of the loan will be low. A long-term loan attracts low-interest rates but high overall costs in the end.
Another product for business loans is the Line of Credit (LOC) loan. This is an advancement of ongoing, fast access working capital to finance things such as managing cash flow. Our business revolving line of credit allows you to make withdrawals from your credit line and replenish funds while you repay the line. This means that you can use LOC routinely and interest is paid only on used funds.
Hard Money Loan Columbia
We provide commercial and hard money real estate loans in Columbia for investment transactions but not for primary homes. Hard money loans are loans secured by real property. They are seen as ‘bridge loans’ and are mainly used in real estate transactions where companies and individuals are the lenders and not banks.
A hard money loan differs from conventional bank financing. Financing through banks will require more documents and a longer closing time vs hard money which is the opposite, fewer documents and faster closings. Hard Money Loans can be used to fix and flips and rehab projects, another common use is as a bridge, to help secure the property and then work on with a traditional bank which will take more time to refinance the property.
It is also an advantage that hard money lenders such as us are not driven by credit scores or income. We have a streamlined underwriting process and we close the deal as fast as a cash buyer.
So, if you need the funds and are in the market to buy or refinance, we can help you out. Don’t delay and call us today a friendly loan consultant will assist you all the way through.
Address: 136-4 Forum Drive #1050
Columbia, SC 29229