When it comes to searching for and obtaining funding for commercial real estate loans, you barely need to leave your house anymore. Much, if not all, of the loan eligibility process can be done from the comfort of your couch, with your computer handy — here’s how to find the right one online.

Today, nearly anything is attainable online — even finding commercial real estate loans. No longer is there a need to meet with your bank in person. There are multiple options when it comes to seeking out a loan, and these alternative choices are often more likely to take a chance on a first-time borrower, someone without an established credit history or even someone with several “dings” on their credit.

However, it should be noted that sometimes these loans come with a higher interest rate, they can still be a great solution for those in need. And again, it can be done without leaving home. Utilizing one of the modern day’s greatest tools — technology and the internet, you can do a lot of the research, application and the entire process online. This can be convenient since you can do the process on your time – beyond the typical banking hours of a traditional lender.

To find commercial real estate loans on the internet, go to an online marketplace lender. These options allow borrowers to receive funding via an online platform, and are particularly forgiving for those that don’t have perfect credit or an established credit history. All the sourcing, underwriting, services to the loans happen via the site – then it markets the loan to investors to obtain your funding. Most of the commercial real estate loans via the online marketplace lenders are short-term loans, however, it is possible to obtain a more traditional long-term loan in this manner.

There are some benefits to using an online marketplace lender.

Of course there are pros and cons to be weighed with any kind of loan. However, going through the online marketplace can be very advantageous to the borrower. The process is very streamlined and efficient — i.e. quick and simple. It’s also an opportunity for high-risk borrowers to obtain a loan when otherwise they may have been rejected from a conventional lender. Generally, you will also know whether your loan got approved or denied in a much shorter amount of time than a conventional loan.

There are also some disadvantages to trying to obtain funding via an online marketplace lender.

Since the risk is greater, interest rates often tend to be higher to compensate lenders for taking a chance. Because there is higher risk involved in loaning to a borrower in this fashion, there are some drawbacks including higher interest rates. This is to compensate the risk factor for the lenders that are taking a chance on this non-traditional loan. All in all it’s important to weigh the pros and cons of seeking a loan via the online marketplace. As with anything, there are advantages and drawbacks but for those that have a unique lending situation, this can be a very viable option to seeking commercial real estate loans.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Tel:  (623) 582-4444
Texas Tel:      (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701

About the Author:  Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.

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