A Private Money Loan is a type of loan provided by private individuals or companies rather than traditional financial institutions like banks or credit unions. 

These loans are typically secured by real estate and are often used for short-term financing needs, such as real estate investments, property flips, or renovations.

Key Characteristics of Private Money Loans at Funding Alternatives:

1. Speed: We can often approve and fund loans much faster than traditional banks, sometimes within a few days.
2. Flexibility: Our loan terms and structures are tailored to meet your specific needs and the unique aspects of your property.
3. Collateral-Based: Approval is heavily weighted on the value of the property being used as collateral rather than your credit history or income.
4. Short-Term: We offer short-term loans, often ranging from a 12 motnhs to a few years, ideal for real estate investors and developers.

Funding Alternatives provide a flexible and efficient financing solution for those needing quick access to funds, especially when traditional loan options are not viable.

At Funding Alternatives, we understand that not every borrower fits the "traditional" mold, which is why we don't have a strict minimum credit score requirement for our private money loans. 

Instead, we focus primarily on the value and equity of the property being used as collateral.

Key Points:

1. Flexible Credit Requirements: We are willing to work with borrowers who have lower credit scores or even those with poor credit history.
2. Property Value and Equity: Our main consideration is the value and equity of the property you are using as collateral.
3. Overall Financial Situation: We also take into account your overall financial situation, including income and assets, rather than just your credit score.

While a higher credit score can potentially help you secure better terms and rates, our flexible approach allows us to cater to a wide range of borrowers. 

Contact us to discuss your specific situation and financing needs.

At Funding Alternatives, we aim to make the loan process as smooth and efficient as possible. 

While we typically ask for much of the same documentation that a bank would require, our approach is different. 

Unlike banks, we don’t use this documentation to look for reasons to say “no.” Instead, we use common-sense underwriting principles to evaluate the character, experience, and capacity of each borrower, allowing us to be flexible with our documentation requirements.

Your online pre-approval letter will include a list of the specific documentation requirements applicable to your loan request.

 If you have any questions or need assistance with the required documents, our team is here to guide you through the process.

At Funding Alternatives, we understand that time is often of the essence, especially in real estate transactions. That's why we prioritize speed and efficiency in our loan process.

Typical Funding Timeline:

1. Initial Consultation and Pre-Approval: Once you submit your loan application, we can often provide a preliminary term sheet within 24 hours.
2. Documentation Review and Underwriting: After receiving the required documentation, our team will review and underwrite the loan, typically within a 48 hours of receiving the package.
3. Funding: Once the loan is approved, we can fund the loan within 2 business days.

In many cases, the entire process from application to funding can be completed in as little as 7-10 business days. This fast turnaround time sets us apart from traditional lenders, making us an ideal choice for borrowers needing quick access to funds.

If you have an urgent financing need, please contact us directly, and we will do our best to expedite the process to meet your timeline.

At Funding Alternatives, the collateral on the loan is typically real estate property. 

We specialize in providing private money loans secured by various types of real estate, including:

• Residential Properties: Single-family homes, condominiums, townhouses, etc.
• Commercial Properties: Office buildings, retail spaces, industrial properties, etc.
• Land: Undeveloped land or lots.

Key Points:

• Value-Based Lending: Our loan approval is primarily based on the value and equity of the property being used as collateral, rather than your credit score or income.
• Flexible Terms: We offer flexible terms and structures tailored to your specific needs and the unique aspects of your property.
• Quick Approval and Funding: We prioritize speed and efficiency, often providing pre-approval within 24-48 hours and funding within 5-7 business days after approval.

If you have a property that you would like to use as collateral or have questions about the collateral requirements, please contact us for a personalized consultation.