We have the privilege of working with property investors throughout Salt Lake City and the entire state of Utah. Among the many reasons they come to us is speed. Indeed, that was the case with one particular investor who recently contacted us in need of fast cash. We were able to approve and fund his loan within 48 hours.

A similar loan made by a bank would have taken at least a couple of weeks to complete. Deals that are just slightly more complex can take weeks, if not months. Hard money has an advantage in that lenders like Actium Partners can move a lot more quickly. If you are a property investor, you might be interested to know how we pulled off this particular loan.

A Property Investor in Need

The property investor involved in this particular deal is a veteran. This wasn’t his first rodeo. He called us on a Wednesday afternoon in need of quick cash. Being familiar with him already, we knew he owned a portfolio of rental properties throughout SLC. The only question was the property he was offering as collateral.

He provided an address and description of the property. By that afternoon, we had someone on-site. Our representative was satisfied with the value of the collateral compared to the amount of the requested loan. Our next step was to contact our title company, which we did the following morning.

The title company provided a preliminary report that very same day. It offered all the information we needed to make a decision. And by the way, we approved the loan. We sent the title company the necessary documents and funding on Friday morning.

How We Did It

Our clients are often amazed at the speed at which we work. As we like to say, speed is one of the advantages of working with hard money lenders. We can do what banks cannot. The question is, how do we do it? There are a few fundamental differences between hard money lenders and banks, differences that really matter when it comes to speed.

First of all, Actium Partners generally completes all documents in-house. We can get to work preparing documents as soon as a loan request is in the pipeline. We are not shuffling paperwork from one office to the next across state lines. We also don’t have to get half-a-dozen people involved. That alone saves us a tremendous amount of time.

Second, collateral is the primary determiner of whether or not a loan is approved. We do not need tons of paperwork that takes clients weeks to compile. We do not look into every minute detail of the client’s financial background. Not having to go to such lengths saves us additional time.

Finally, we have total control over all of our funds. As demonstrated in this particular case, that gives us the freedom to send funds where they need to go along with completed paperwork. The money is actually sitting there, just waiting to be lent. It is only waiting on the completion of the paperwork.

When Time Is of the Essence

Hard money is an excellent option when time is of the essence. Real estate investors know that all too well, which is why they are among our most frequent clients. But really, you don’t have to be a real estate investor to take advantage of hard money and bridge loans.

You may have financing needs for which your business cannot wait. If you are facing time-sensitive deadlines banks cannot meet, we want to speak with you. Contact Actium Partners and let’s talk.