Indian Trail, NC hard money lenders have been lending to folks in this area for a very long time. Indian Trail is a town that is a part of the county of Union. The town was founded in 1861 and has a population of 12,000 people.
Throughout this state, borrowers are being denied their requests for loans at both the bigger banks in the area, but also at the smaller credit unions as well. The fact of the matter is, is that banking institutions and facilities are and have tightened up on lending practices, some would say, to an unreasonable extent. The net result of it all is a situation in which the economy’s sort of struggling to catch a breath, struggling to breathe by these gridlocked credit markets.
And so what we’re seeing is that some of this congestion is getting eased through what are referred as Indian Trail, NC hard money lenders. These lenders are able to get folks approved for loans, despite whatever negative financial situation they might be in. They might have a very low credit score, and even then, will be able to get approved for a Indian Trail hard money loan. This is possible because of the fact that hard money lenders in Indian Trail don’t need a high credit score to issue a loan; they diversify the risk of lending to a borrower of this class by requiring the borrower to secure the loan with real estate. And that’s the hitch of it: any commercial construction loan is going to require real estate to secure the debt.