Your Bank say No! What can you do? as seen in CO Biz Magazine
You need cash and the bank says no. Most small business owners have been in a situation where they have an excellent opportunity but they are short on cash and traditional funding is not an option. Are there non-bank options available to help a business owner get the cash they need quickly?
As a result of this new banking era, many borrowers are unable to obtain traditional financing and are now looking at other sources for their cash needs. Assuming that you have exhausted traditional small business financing avenues (and explored a home equity line of credit on your property) and that you do not want to bring in a partner that could dilute your equity, what are your options?
Fortunately alternatives are available to traditional bank financing. One very broad category of alternative lending is called "hard money". Unfortunately hard money is frequently misunderstood and if one were to ask 10 people to define hard money, 11 answers would likely be given.
Read Full Article written by Glen Weinberg, COO/Partner Fairview Commercial Lending as seen in CO Biz Magazine
Fairview is the recognized expert in alternative lending, also known as hard money lending.
