Hard Money Loan
A hard money loan is typically used for real estate investments. It is provided by private investors or companies rather than traditional banks or lenders. The loan is secured by the property being purchased and is usually for a higher interest rate than traditional loans. The terms are also shorter, often ranging from six months to a few years. This type of loan is popular in the real estate industry because it offers quick financing options and can be used for projects that may not qualify for traditional loans due to their risk or unconventional nature.