Three Types Of Loans A Hard Money Lender Won’t Do
This is Corey from Private Money Utah, I’m a private money lender and today I’m going to talk to you about three types of loans that a private money lender won’t do.
OK the first one. Personal loans, often called signature loans. In most cases a private money lender is not going to do that type of loan. Private money lenders like myself we like real estate, we like hard assets that we can use as collateral.
Seed capital loan business
So what’s the second type of loan that I’m not going to do.
• A start up,
• A seed capital loan.
• A business idea,
• Somebody who has an invention
• Somebody who has a business idea,
• They want to be a startup.
That’s not the type of loan I’m looking to do.
I want to make a loan which is also called debt, a private equity investor or lender is going to give you a loan in exchange for equity. So that’s more of a loan that you’re going to see with a private equity investor or private equity lender we are a debt private debt lender.
So now the final and third type of a loan that I’m not going to do any loan to a nonprofit organization.
So anything that’s on Go Fund Me for example or another one of those fund raising sites for people doing things, people that want to travel people that are raising money for a cause or for somebody that needs help. That’s another type of loan that a private money lender is not going to do. In most cases.
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