In today’s financial and business lending world, it has become increasingly difficult to borrow money from banks. Unless you have the cash in the bank, perfect credit and the ability to make a substantial down payment, you can bet your bottom dollar that most banks will respond to your query with a resounding “No.” The strain of trying to thrive in this type of challenging environment is causing more and more people to seek out real estate loans for their business lending needs via alternative finance providers (particularly for developers).
Kent Hogan’s situation is a ripe example of someone who made the switch from traditional banks to alternative lenders. Kent has borrowed millions and millions of dollars from banks – safely, he assumed. However, when the crash of 2007 hit, he was suddenly forced to think outside the box – and quickly. He found a solution for his business lending needs through alternative finance.
“Alternative finance filled the void that banks could not. I am now able to borrow money faster than ever before. My rates may be slightly higher, but I have minimal red tape. I can close deals more quickly than before, ultimately enabling me to make more money,” says Hogan.
Since then, Dave Knudson at Gravity Capital has been able to provide Hogan with millions of dollars in funding. “Kent is the perfect example of one of our borrowers. He is smart, sophisticated and able to close several transactions per year,” says Knudson. “There is trust factor that we have with many of our investors like Kent – and it’s because of this that we’re able to continually fund their loans successfully.”
Learn more about how Gravity Capital can help you fulfill your business lending needs. Contact us today or by fill out our easy online application.
