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3 Ways to Use Hard Money Loans

Looking to start a commercial project in 2022? The first thing you need to check is if your company has the budget for this project. Many companies have been struggling to manage their financial condition in 2020/21, and the economic crisis has drained the money out of the pockets of Canadian corporations.

Amidst this difficult financial situation, private lenders are here to help you out. Many reputable private lending companies in Canada offer excellent hard money loan deals to help you complete your projects.

Let’s find out how you can use hard money loans.

Commercial Real Estate Investment

Many Canadian companies are looking to get their hands on commercial properties with the boom in the real estate market. You should get a hard money loan to get into the real estate market. Private lenders offer bridge loans to help you purchase a property without selling your existing real estate.

Construction Projects

It’s no secret construction prices have skyrocketed in Canada. If your company wants to start a construction project, you’ll need hefty funding. While you can use conventional bank lending, is that really a good idea? We don’t think so!

Banks can take an eternity to approve your loan application, which can delay your construction. You should reach out to Canadian private lenders to get hard money construction loans. Here are the different types of construction loans you can opt for:

  • Land development loan
  • Interim construction loan
  • Takeout loan
  • Acquisition and development loan

Acquisition Financing

Want to acquire another business but don’t have the funds? It’s time to get a hard money loan to finance your acquisition project. Private lenders can help you acquire various businesses and properties like hotels, restaurants, raw land, warehouses, and multi-family commercial buildings.

A private lender analyzing a client’s paperwork

Hard Money Loan Deals Available In Toronto And Vancouver

If you’re looking for an extensive hard money loan deal to finance your commercial projects, you should visit Global Capital Partners Fund LLC. They help clients in Toronto and Vancouver with their hard money loans.

They’re known for providing quick loan approvals because they’ve got an in-house underwriting team. Canadian companies prefer them as they offer multiple commercial lending options. We’ve listed some of their commercial financing options you should know about:

  • Acquisition financing
  • Asset-based loans
  • Construction loans
  • Permanent financing

You can get in touch with the team at Global Capital Partners Fund LLC to learn more about their hard money loans.

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