Private lending is an essential tool to propel the real estate investor to the next level. The private loan is less restrictive and offers, among other things, greater flexibility in terms of time, loan conditions, credit history, processing time …
In many cases, the flexibility of the private loan may prove to be the best solution for your project.
When to do business with a private lender?
- You want a short term loan
- You’re buying a property that traditional banks and lenders refuse to finance
- You’re buying a building with little income
- You need financing in a very short time
- Your income prevents you from having a traditional mortgage
- Your credit history makes banks deny your request
- You want to finance work at your building
- You want to make a 100% acquisition
- Mezzanine financing
- 2e mortgage
However, the private loan must remain an alternative or a solution to a constraint for the most risky projects. It must not become a must for all your projects. High fees and interest rates are not beneficial in the long run.
Commercial Group does business with several private lenders throughout Quebec with the best market conditions. In just 24 hours, Commercial Group is able to meet your needs and make your projects come to an end.