What is the definition of a hard money or equity loan?
‘Hard money’, also referred to as equity loans, or private money loans, are asset based loans that are privately funded by individuals seeking security and substantial return on real estate loans. Traditional lending institutions, such as banks and credit unions, lend ‘soft money’, as opposed to the ‘hard money’ lending alternative SC Financial provides its clients who may have special equity loan requirements or previous credit problems, eliminating conventional financing.
