18 May Get a Hard Money Loan in Newport Beach, CA
Looking to Secure Commercial Property in Newport Beach, CA? Contact Nelson Funding
When you choose to open a business in Newport Beach, you’re choosing excitement. This beautiful coastal town has miles of pristine beaches, great weather, dozens of specialty shops, close to 500 restaurants, and the best golf resort in the world. With over 50 million tourists flocking to Orange County every year, there’s no shortage of business opportunities.
Because Newport Beach is such a popular destination, the competition for commercial property is fierce. To capitalize on the great investments in Newport Beach, you have to move quickly. Whether you’re looking to start a new business or want to expand your existing one, Nelson Funding can provide you with a quick closing hard money loan in Newport Beach, CA. In many cases, we can provide your hard money loan in a matter of days.
Don’t let your competition take your perfect property, let our team of professionals help you close your loan quickly and move your project forward on your timeline.
Why You Should Choose Nelson Funding Over Other Commercial Lenders
If you’re a little wary of partnering with a hard money lender because of past experiences and are considering going through a bank, contact Nelson Funding first. Securing commercial loans from our company yield so many benefits, but perhaps the biggest benefit of choosing us is saving time. Below, we’ll discuss the process that traditional banks have you complete and how much faster the process at Nelson Funding is.
Whether you’re choosing to open a warehouse, office space, hotel, or travel or tourism-related business, purchasing commercial property is a major financial commitment. As you’re preparing to purchase property, you’ll have to provide banks with a significant amount of documentation. Most banks require you to provide the following records:
- A detailed business plan on how the property is going to be used
- Tax returns from the last five years
- Financial reports and records from the last five years or since inception
- Projected cash flows for the life of the loan
- Credit reports for your business and from each of your business partners and owners
- A copy of your state certification as a legit business or limited liability entity
- Proof of citizenship
Even if you have all this information gathered and ready to submit to a bank, it can still take weeks or months for a lender to process it. If you have poor credit or a new business, the process can take even longer. While you’re waiting for your funds, it’s very probable that another competitor can swoop in and purchase the property you’ve had your eye on. If that happens, you’ll have to look for a new property that can delay your project timeline even further. Only after all this information has been reviewed will you receive your commercial loans.
Here’s how the process at Nelson Funding works:
- Apply. No need to visit us in person. Just fill out our easy online application and submit a copy of any necessary documents. If you have questions, reach out to one of our experienced loan officers. They’re happy to assist you.
- Review LOI. Within a few days of submitting your application, our team of lenders will issue your terms.
- Complete due diligence. One of our investors will come to your site, inspect it, and complete any due diligence. Once this has been completed, our team will complete an appraisal/BPO and title. This whole process usually takes between 7-14 days to complete.
- Funds. Our team will coordinate the closing process so you can stay focused on moving your project forward. Depending on the type of hard money loan you’re looking for, we can usually provide your funds between 10-30 days.
From the application process to closing, our whole process takes at the most a month to complete. There’s no waiting around to hear from one of our team members of being kept in the dark. We’ll communicate with you the entire time and let you know where things are at. Even after we’ve provided your commercial loans, we’ll continue to stay in touch. We can even help you secure a conventional commercial mortgage at the same low interest rate.
Contact Nelson Funding to Secure Your Hard Money Loan
No matter what your business venture is, our team is here to help make it a reality. We provide a variety of low-interest rate commercial loans, including fix-n-flip loans, retail property loans, 10-day bridge loans, construction loans, and so much more, at rates as low as 4.5%.
If you’re ready to purchase commercial property in Newport Beach or have more questions about our process, get in touch with us! You can contact us online or by giving us a call at 573-246-7087. Don’t miss out on your perfect commercial property! Call us today and take advantage of Nelson Funding’s incredibly easy and fast lending process.