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05-11-2009, 03:18 PM
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Junior Member
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Join Date: May 2009
1 posts, read 1,517 times
Reputation: 10
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Hard money lenders
I am about 80% complete with building a new type of tanning salon and I have run out of funding. How do I go about finding reputable hard money lenders that would lend about $20K that I could use my new business as my asset? My business plan is very different from the other tanning salons and know it will bring in a lot of money fast and will keep growing.
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05-11-2009, 04:05 PM
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Normal people scare me
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Join Date: Jan 2007
Location: Miami
271 posts, read 226,867 times
Reputation: 175
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Quote:
Originally Posted by tans
I am about 80% complete with building a new type of tanning salon and I have run out of funding. How do I go about finding reputable hard money lenders that would lend about $20K that I could use my new business as my asset? My business plan is very different from the other tanning salons and know it will bring in a lot of money fast and will keep growing.
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Personal Loans and Online Investing | Peer-to-Peer Lending - Prosper Loans Marketplace
Try this website, one of many that makes loans
Good luck |
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05-11-2009, 04:09 PM
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Senior Member
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Join Date: Nov 2008
1,791 posts, read 689,259 times
Reputation: 953
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Quote:
Originally Posted by induhvidual
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Prosper has not been making loans for quite some time now. They had some sort of trouble with their licensing. |
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05-14-2009, 07:13 PM
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Member
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Join Date: May 2009
14 posts, read 5,549 times
Reputation: 16
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When shopping for hard money loans online, there are some things to look for and certain things to avoid. As with any internet transaction, when personal information is requested, you should use caution. This article at ezinearticles.com has some good information:
Where Can You Find Hard Money Loans Online From Reputable, Experienced Private Lenders? |
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05-29-2009, 10:06 AM
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Member
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Join Date: Aug 2008
17 posts, read 20,303 times
Reputation: 10
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Hard money lenders regulated? Ha, that's a joke. They charge an arm and a leg for the money where I live, and if you do not pay, they may literally take an arm or leg. ( most likely they would start with a finger, then move up)
If you are doing private lending, you can charge what ever someone is willing to pay.
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FindSavings is your source for Online Coupons! |
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05-29-2009, 10:42 AM
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Senior Member
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Join Date: Apr 2008
5,745 posts, read 3,204,320 times
Reputation: 1580
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Hard money lenders are LEGAL and they do have standards. In some states there are stricter limits as to what rates they can charge, but in all cases it is ILLEGAL to bring bodily harm to a borrower. That would be "loan sharking". Frankly some loan sharks probably have RATES similar to hard money lenders, so I can understand the confusion, but the reality is that sometimes it does make sense to some people to find money anywhere they can...
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06-04-2009, 02:28 PM
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Competition breeds winners
Status:
"Watching peoples dreams go down the toilet"
(set 26 days ago)
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Join Date: Sep 2007
15,647 posts, read 5,200,450 times
Reputation: 1580
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Quote:
Originally Posted by ZugZub
Prosper has not been making loans for quite some time now. They had some sort of trouble with their licensing.
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Prospers problem is they had no license, they just opened up, and did loans without registering their business. They have closed up, and now going through the process of registering in all 50 states.. |
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10-29-2009, 03:55 PM
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Junior Member
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Join Date: Oct 2009
Reputation: 10
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solid deal five properties I'am willing to encumber for six months owned free in clear to save my business with capital.
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