When a loan for commercial purposes is deemed to not be bankable or bank-approved, it is considered a commercial hard money loan. In these instances, the business, for whatever reason, does not meet the banking standards that are required for commercial loans, but it has property or assets sufficient to secure the loan for investors or lenders. 

So, financing alternatives are reserved for private lending. An investor looking to remodel and flip commercial properties usually utilizes these loans. You can also visit taylormadelendingllc.com to consult real estate hard money lenders

How Do Commercial Hard Money Loans Really Work? - Hard Money Lenders California

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It is typical for commercial loans to carry greater risk, not just to the borrower, but to the lender too. Thus, these types of loans tend to be more costly in comparison to loans for commercial purposes. The interest rates for these kinds of loans may differ among the various lenders and also the risk they're considered to take on.

Finding commercial lenders is not always an easy task. Hard money commercial lenders have funds easily accessible and available. If the borrower is too high of a risk, private money lenders may deny loans even though they are there for the sole purpose to assist those who are rejected by banks and are not able to access other financial resources available.

The commercial hard money lender adopts different approaches from traditional banks. They tend to approve (or reject) rapidly and less paperwork is required from the applicant. 

The credit history of the borrower isn't always considered in the process of obtaining a loan. If he or she is able to convince the lending institution that their proposal is sensible from a business perspective and is a good idea, then there's more chance of approval.


Croydon is a town in Melbourne, Victoria, Australia found approximately 28 km east of Melbourne's main business area. Croydon has a population of nearly 27,000 individuals. The land that became Croydon was initially utilised back in the 1840’s by colonists for the grazing of farm livestock. The initial road in the area was known as Sawmill road because of a sawmill close by. Later it was altered to Oxford Road and in the 1900’s it was modified as to what it is identified today as Mt Dandenong Road. The area itself was initially referred to as White Flats because the place was greatly populated by a rough silvery-white grass. The naming of Croydon was given to it through the Lacey family who came from Essx, England who called it after the Croydon in the UK which was Mrs. Lacey's hometown. Nearby the current Main St shopping area is a street named after the Lacey family.s

Packages of property in the area were initially mapped in 1868 and the place was first formally habituated with the location working on the farming of sheep, beef and dairy. There were also some sawmills set up. After that, there have been orchards which incorporated cherries, apples, pears, peaches and plums which flourished. A number of the existing street names close by Croydon now mirror that early development. In 1874 Cobb & Co began a service through horses and carts to the area. A rail track to the region was opened on 1 December 1882 and the train station was referred to as Warrandyte that was not actually in Warrandyte which was inaccurate as that region was a horse and coach trip 10km away. On 1 August 1884 it had been redubbed to become known as the Croydon train station. From the mid-1880s Mr James Hewish developed his home and started a few other business ventures that included a general store, news agency, butchers store as well as a hotel. Also, he set up several orchard trees. The Croydon Postal Service was exposed on 1 December 1883. The nearby Nelson's Hill Post Office opened up in 1902 and it was later relabeled Burnt Bridge in 1979. On Mt Dandenong Road in 1908 Croydon Hall had been constructed. Croydon was ultimately announced and gazetted to be a city in 1912.

In 1920 a Monday marketplace was began in Croydon that included livestock, chickens, birds along with other small animals. It was really a known landmark in the region and a favorite assembly place for locals from neighbouring areas prior to the site was re-constructed in the 80s. It was eventually shut down in 2012. Administratively, Croydon was at first part of the thing that was then the Shire of Lillydale, but in 1957 a demand was processed by officers for Croydon to go out of the Shire of Lillydale and be its own governing body. The City and Shire of Croydon was incorporated in May 1961 and was announced as a City in 1971. Later, it was merged, along with the City of Ringwood to become the City of Maroondah in 1994. Today, the Main Street of Croydon is a flourishing community heart that has almost 200 store.