Frequently Asked Questions

What is Hard Money?
Private money, used primarily for asset based lending secured by real estate; short-term “bridge” lending (bridges gap between now and event which will pay off loan).

What property types will ESC consider?
Most commercial and investment real estate, including raw land, vacant buildings, mixed use, multi-family, office, restaurants, retail, hotel/motels, and medical.

Will you accept collateral other than real estate?
We fund only loans secured by real estate.

Why are the interest rates higher than bank rates?
We quickly close loans with our own cash, which has a much higher cost to us than banks pay for their funds.  So your cost of money is more expensive than a bank but much cheaper than a partner or lost opportunity.

Are there any other fees besides the lender points?
Yes, the third party fees are title, appraisal, and legal.

Do you offer 100% acquisition financing?
We do not offer traditional 100% acquisition financing, but have done so non-traditionally through cross collateralization and when lease option acquisitions make sense.

Who orders the title and appraisal?
ESC controls the title and appraisal process. Opened title and recently completed appraisals may be accepted, subject to review by ESC.

What type of income verification do you require?
Borrower states income and assets on loan application and provides financial statements and rent roll (if applicable) for support.  Properties do not need to cash flow.

What are your rates?
Rate Sheet