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My Local Funding FAQs

Do you have questions about My Local Funding? See if the answer is in our Frequently Asked Questions.

Common FAQs

My Local Funding provides funding solutions to local businesses that are unavailable at banks.

We provide funding options for anyone who needs a local business loan. If you are a real estate investor, small business owner, or investor in general, My Local Funding can provide you with a quick and easy loan.

If you have bad credit or are going through foreclosure, you may still be able to get funding for your business from a hard money lender such as My Local Funding.

These lenders are much more flexible than traditional banks, and they will assess your loan application based on the value of your property and the amount of your down payment rather than your credit score or past financial history.

If you have a good business plan and some assets to back up your loan application, My Local Funding may be able to help you get the funding you need to start or grow your business.

My Local Funding is willing to work with self-employed borrowers. We understand that your income may be inconsistent, and we are willing to work with you to develop a loan that works for both of us.

The key is being honest with us about your income and what you plan to use the loan for. Be sure to provide us with as much information as possible so that the lender can make an informed decision.

If you are self-employed and don’t have a steady income, don’t worry – options are still available. Talk to My Local Funding today to learn more about your options.

You can still get local funding even if you have several investments already. Banks often limit the number of loans an investor can have (to an arbitrary number of four), but My Local Funding does not. We will look at other factors when assessing a loan request. So even if you have four loans already, you can still get a loan from My Local Funding.

A loan from My Local Funding is a good option if you’re looking for quick and easy money. You can usually get the money you need in a matter of days, and there are no restrictions on what you can use the money for. However, you will likely have to pay back the loan with interest, and you must repay it on time to avoid debt.

If you’re looking for long-term financing that will help your business grow, then getting a financial partner might be a better option. A financial partner will typically invest in your business in exchange for a share of the profits, which means they have a vested interest in seeing your business succeed. Finding the right financial partner can take time and effort, and you may give up some control over your business.

The most obvious advantage is the speed with which we can approve your loan. We can typically approve your loan within days, compared to the weeks or months it can take traditional lenders to approve a loan.

Our loans are also available to people with bad credit, no income history or other situations that might prevent them from qualifying for a traditional loan. We understand that not everyone has perfect credit or an extensive income history, and we are happy to offer our financing to those who need it.

A My Local Funding loan can help the buyer negotiate a better price. Because traditional lenders are often more hesitant to finance a purchase than a hard money lender is, buyers can use our financing as leverage to get a better deal from the seller.

If you’re looking for a fast and reliable loan for your next real estate project, My Local Funding is here to help. We offer short-term hard money loans that can be approved and funded within days so that you can get started on your project as quickly as possible.

Our loans are also flexible, so they can be tailored to meet your needs. Contact us today to learn more about our products and how we can help you get the funding you need for your next project.

The interest rates and points charged by My Local Funding hard money lenders vary depending on the borrower’s credit score, borrowed money, and loan terms. However, our company typically charges an interest rate of around 10% and between 2 and 4 points. Other charges may include a processing fee, a document fee, and an origination fee. In addition, the borrower will need to pay for escrow, title insurance, notary and recording fees.

My Local Funding is a lending marketplace that provides small businesses, startups, and entrepreneurs with various easy financing options that can help you cover your expenses and make investments to help you scale your business.

We offer funding options for expansions, talent acquisition, new tools or equipment, real estate investments, marketing, payroll, and virtually anything else your business may need.

My Local Funding also offers personal funding for individuals who want to consolidate debt, pay off loans like college tuition or credit card debt, or make investments.

At My Local Funding, our super easy process allows you to get pre-qualified without impacting your credit score in just a few minutes.

My Local Funding is the best place to turn if you want more options than banks can provide. Click the link below to apply for a loan today.