Piqua, OH hard money lenders work out of the Miami County (not Florida), of the state of Ohio. The current mayor there is Lucinda Fess, and the total population of the city is at about 21,000 to 22,000 people, while the city itself has a population density of about 1,939 people per square mile.
Piqua, OH hard money lenders are popularly considered the ‘secured credit card issuers’ of the lending and financing world. The analogy is apt, and for a few valid reasons that we’ll get into. For one, the secured credit card is different from the traditional credit card, in that it requires collateral of the borrower. More specifically, it requires that the borrower transfer funds in the way of a security deposit, to the card issuer.
Without these funds, the card issuer will not, absolutely will not, extend a line of credit to the borrower. If the borrower doesn’t have funds to put down, then nothing else will be accepted as collateral, as this is the card issuer’s hard, fast rules. The same thing goes for hard lenders, except for one key difference. Their stipulation about the collateral put toward Piqua hard money, must be a “hard” asset. In other words, hard money lenders in Piqua require real estate to be put up as collateral. Without this, without the borrower securing the line or the loan, there will be no issuance of funds. This is the way these lenders are able to bypass credit checking when it comes to residential hard money.