Definition of Private Equity Loans (“Hard Money”).
Hard Money is a short term, high interest and high cost loan based on assets, such as land, homes, or other Real Property (Real Estate).
Hard Money Lenders are private lenders bringing private funds to the Borrower.
Unlike a bank or lending institution that requires an application, paycheck stubs, tax returns, copies of bank statements, appraisals from their specifically approved companies, etc.,
Hard Money Lenders are more lenient, more efficient and require far less paperwork.
There is no qualification process, therefore, Hard Money Lenders move quicker than banks and mortgage companies and the money can be used for any “non-consumer” purpose.