Overview
If you’re wondering “can I get a hard money loan with bad credit?” The answer is yes! Below are the approval requirements for business funding with our most basic program, which only requires a minimum credit score of 500, and is a great alternative because you do not have to risk collateral.
Southern Mortgage Lenders, LLC helps borrowers with existing businesses secure private business loans for any type of venture, even if they do not have collateral for traditional hard money loans or they have bad credit. We also have great options for borrowers with good credit. Our application process is fast and secure and approved borrowers are eligible to receive funding fast.
Loan Criteria:
- Estimated Business Loan Term: 12 to 60 Months.
- Rates: 8%.
- Time in Business Required: 4 Months.
- Minimum Credit Score Require: 500.
- Minimum Monthly Revenues: $10,000.
- Minimum Business Loan Amount: $500K.
- Max Business Loan Amount: $20M.
- In-house loan servicing & draws.
- Quick closing.
- Pre-Pay Penalty: N/A.
Loan Programs
Get Funding
How It Works
Loan Process and Requirements
Step 1
Submit a Loan Request
It all starts here… complete our quick and easy online application, whether you have a deal that you need funded or need a pre-approval letter.
Step 2
Submit Supporting Documents
Provide the supporting required documents through our online portal, or email them to us, for our underwriting process. We will quickly turn around a commitment to you.
Step 3
Document Review
We will review the title commitment, appraisal, and all other documents so that your final loan documents can be produced.
Step 4
Closing
Once the closing has been executed, we will disburse the funds. Our average closing timeframe is 7 days
Join the satisfied customers who choose to work with Southern Mortgage Lenders, LLC.
At Southern Mortgage Lenders, LLC we are proud to fund commercial properties, multi-family residential, investment residential properties, fix and flip projects, land, and construction Nationwide
