In the state of Maryland, what you’ll find is that North Bethesda, MD hard money lenders are able to provide a critical service to borrowers that have really low credit scores. The city of North Bethesda is a town of about 40,000 people, which translates over to about 4,300 per every square mile. The city’s situated in the central region of Maryland.
North Bethesda, MD hard money lenders are really only able to provide North Bethesda hard money (you know, by definition). And so when people talk about hard money lenders in North Bethesda, what are they really talking about? They’re really talking about borrowers with low credit scores, not being able to take out loans are get approved for any sort of financing. That’s what we’re talking about here. And when we consider that, we have to figure out, how these hard lenders are able to provide loan facilities to borrowers with such poor financial contexts.
They’re able to do this by using real estate, or so called hard assets as an anchor. See, the borrower will have to come up with something that they own, outright, and they’ll be forced to put that up as the collateral to any loan that’s presented to them by these lenders (that is, if they want to get approved for the loan). And on top of that, that something that they own, that’s going to have to be real estate. Nothing else, other than real estate, will be acceptable to these lenders for collateral to a commercial construction loan.