As a business owner in the Salt Lake City, Utah, area, you may sometimes benefit from a hard money loan, also known as a swing loan. Talk to the team at RushFire Private Lending to see if we can help you get the short-term loan you need to close a lucrative deal.
Uses for Hard Money Loans
Private money loans are often thought of as tools for real estate developers and house flippers. To be sure, that industry is perfectly suited to hard money loans. However, others can benefit from private money lending as well.
A hard money loan is also sometimes known as a “bridge loan” because it bridges a gap in funding. The reason these private money loans are often associated with real estate is because a developer takes on a large mortgage on piece of property that they must spend tens or even hundreds of thousands of dollars to rehab, but with the intention of selling it immediately thereafter for profit.
So, while the cost of the property and the rehab is high, it’s temporary.
RushFire Private Lending for Salt Lake City, Utah, Business Owners
If you’re a business owner and need a loan quickly to cover expenses, acquire more inventory, purchase a competitor’s business or any other reason, come to RushFire Private Lending. We quickly vet your financial status, verify the value of your real estate collateral and apply to get the money you need — before it’s too late.