More and more Iowa Hard Money Lenders are experiencing less and less attrition amongst its borrowers. Typically, what’s happened in the past, is that Iowa Hard Money Lenders will see a pickup in business during economic downturns or slumps. [ad#ad-top]This is because in such situations these borrowers’ traditional banks and lenders will tighten up on lending practices, freezing up access to capital and cash, and so borrowers will sort of flock to Iowa Hard Money Lenders in droves, driving up business and revenue for these firms. In many cases, even spawning a growth in new firms amongst this sector of financial services and products firms. But, traditionally, what’s happened in the past is that when and as an economy returns to its usual vibrant and happy self, borrowers return to the traditional banks and lenders for whatever reason—perhaps out of the convenience from dealing with just one company, though this isn’t as credible a reason or motivation, as many lenders are quite convenient to deal with, with many having web presences and web based operations.
And as mentioned, many more Iowa hard money firms are finding that customers are sticking with them even as the economy returns and recovers; hard money lenders in Iowa will cite the fact that their loan arrangements tend to sit between the extreme ends of the spectrum of the standard bank loan one end, and the 25, 30 year mortgage on the other. Many borrowers that come into hard money offices tend to already be living quite financially lean and well within their means; they’re just needing a tad bit of capitalization that’s sort of beyond the scope or somehow is inappropriate for a credit card, and is well below what a 25, 30 year mortgage imposes. Borrowers are finding that hard money arrangements are also very customizable, with periodicity having a wider range in options than the usual financial product range of a traditional bank, with terms involving weeks, months, quarters, etc. Borrowers also appreciate the less sterilized, less anonymous feel of the hard money lender than what’s found at the bigger banks, so much so that these borrowers are heading to these lenders for private mortgage solutions when buying new homes as well.