Whether you are running a business in NYC, NY or taking on projects in the commercial real estate market, working capital is essential. Sometimes ventures require large loans. NYC hard money loans are designed to help entrepreneurs cover immediate expenses while larger financing is still being processed.
NYC Hard Money Loans For Commercial Real Estate
In the local commercial real estate market, NYC area investors and developers are constantly purchasing, renovating, and building. Most projects require substantial loans to cover the cost of acquisition and construction. But when those loans are still in the pipeline, NYC hard money loans are used to cover time-sensitive expenses. With NYC hard money loans, local commercial real estate investors can cover closing costs, inspections, permits, demolition, groundbreaking construction, selling preparations, and even line up contractors. Some clever investors and developers in the NYC area roll the amount needed from bridge loans into their requests for larger funding. This way, once the big loans are processed and the funds are disbursed, a portion of the financing is used to pay off the balance of the hard money loan.
NYC Hard Money Loans For Businesses
Hard money loans are not just for commercial real estate transactions. Businesses across all industries in NYC also use hard money loans. For example, during a merger, buyout, or expansion, there is frequently a need to cover time-sensitive expenses while maintaining operations during the transition. NYC hard money loans provide the capital necessary to keep things moving forward. For this reason, hard money loans are often referred to as “bridge loans.” Hard money loans are used to bridge any gaps in financing until a project or venture is completed. Hard money loans are the ideal short-term solution for growth projects, and can be used for equipment, hiring additional staff, rolling out new products, advertising, purchasing large assets, moving into new facilities, and more.
Learn More About NYC Hard Money Loans
At Express Capital Financing, we help entrepreneurs fill in any gaps in funding with our comprehensive program for hard money loans. If you own a business or work in commercial real estate, contact our offices. Our team will work with you directly to understand your goals, and we will create a funding strategy and solution to ensure success.