North Ridgeville, OH hard money lenders have been operating in this city since the city’s founding. It has a population of 23,000 people, and an urban density of about 955 people per square mile. The city is located and situation along the northern border of the state of Ohio.
North Ridgeville, OH hard money lenders have been able to consistently capitalize the borrowing needs of borrowers in Ohio and North Ridgeville for years and years. They’ve been able to do this for borrowers that have very low credit scores. They’re able to do this, because North Ridgeville hard money is a lot like a secured credit card. With a secured credit card company, you have a lender that will lend, only as far as there’s a security deposit made by the borrower. Same goes with hard money lenders in North Ridgeville, they won’t issue a loan unless a borrower’s able to secure the loan.
And the only way a borrower’s going to be able to secure a loan with a hard lender, is by putting up real estate as collateral. Real estate in this sense is considered the “hard” (asset) in “hard money.” Without real estate, the lender absolutely will not extend a line, will not extend a loan out to the borrower. There are a number of reasons for this. One, the borrower’s already a high risk, by having a very low credit score. And two, the lender will have no exit, no recourse, in case the borrower should just leave, simply, with the lent construction home loans.