Even though the population is a little bit less than 15,000 people right now, those Rye hard money lenders are doing their job to help the city flourish. As the home of the oldest wooden roller coaster in New England, Rye definitely has a lot of attractions to bring people into town. When the locals want to find the funding to start a business or just get the cash they need to make it through a tight economic situation they may not want to turn to the big name banks that have such a tight hold over the lending market here and that is why they will look into their alternative solution.
Through the Rye hard money lending approach the residents are able to get much better deals on their loans and find the kind of terms and options that are going to fit in better with the realities of their life in this area. Since they have more freedom to alter the terms to fit the borrower, the lenders that offer this service are able to custom fit the loan for the person who is applying for it.
This means that the hard money Rye residents can get a hold of is going to be on much better terms that would never be possible at a large commercial bank which is unable to change their policies to fit a local population of any size. For that reason alone, the locals finally have a greater sense of freedom when it comes to the financial choices they want to make. And that is what commercial hard money is all about.
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