02 Sep Unique Financing Solutions for Buying Real Estate
There are a lot of options when it comes to purchasing real estate for your business. There seem to be even more options when it comes to financing your real estate purchase. You may need some extra money and are looking at different Utah bridge loans. You may also find that you have some extra money left over for some much-needed renovations. Whatever your situation, Nelson Funding finds the best loan that fits your business.
Calling and making an appointment is the best way to guarantee you are choosing what is right for you. But there are some other options that you can educate yourself on so you know what options are out there.
Here are three different financing options that you may not have thought of that could be a great solution for your business situation:
Short Term Loans
These loans are a great option if you need money fast. There are several different options for short-term financing and each option has both pros and cons. Try your best to avoid payday loans. Short-term loans are the easiest loans to obtain. But, they have extremely high rates and are considered dangerous as a financing option.
When you do get a short-term loan, there will usually be a shorter time frame to pay back the money. This means that while you may not have money right now, you will need to have a plan to pay back the money.
Utah Bridge Loans
Bridge loans are a great way if you are stuck between two places and need some money to bridge the two places. Utah bridge loans are a great option if you have a commercial space. Also, bridge loans are great if you are looking to buy a new space in Utah. Bridge loans in Utah are not just for leasing situations but for all kinds of property situations such as business properties and other real estate investments.
There are both pros and cons to Utah bridge loans. Some pros are that they do not require a lot of documentation. I can help you when you are putting in offers for buying commercial real estate. Some cons are that the interest and transaction rates can be higher than typical loans since it is for a shorter amount of time.
Merchant Cash Advance
This option is a great solution for small businesses that need some extra cash. Small businesses use the extra cash for renovations or even property damage. Since this cash advance is not officially a loan, some of the typical rules of loans do not apply to merchant cash advances. Most of the terms and conditions will be finalized with the APR and money amount lent. This cash advance, unlike a bridge loan or traditional loan, will be paid back by taking a percentage out of sales made.
If you need cash and are looking for a quick solution for your Utah property or business, there are a lot of different options out there for your situation. Do you feel like a Utah bridge loan or a short-term loan is a better fit for your situation? Contact Nelson Funding and give us a call when you are ready to solidify your financing needs.