When can you get a Bank Loan vs When can you get a Hard Money Loan

While it is true that most business lending takes place through traditional financial institutions such as banks, sometimes traditional criteria can be difficult for a business or individual to meet. Creative borrowers and lenders can streamline their own loan criteria and terms, evading the formalities and statutes that traditional lending institutions must follow. A typical loan being funded through a certified lending institution can sometimes be referred to as a “soft loan.” Contrary to that, a “hard loan” is generally awarded by a private individual or investor, therefore its terms and interest rate can be less rigid and more flexible than those of a commercial lender. Continued