Frequently Asked Questions

What is Hard Money?
Non-institutional private money; primarily real estate asset based lending; short-term “bridge” lending

What property types will ESC consider?
We consider all property types. While our specialty is raw land, we also provide loans secured by vacant buildings, multi-family, restaurants, retail, mixed use, office, industrial, hotel/motels, medical, mobile home parks, and any other non-homestead real estate you can imagine.

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

Will you accept collateral other than real estate?
We fund only loans secured by real estate; however, we use a wide variety of real estate as collateral.

Why are the interest rates higher than bank rates?
We quickly create loan opportunities for borrowers who are unable or unwilling to meet certain restrictive requirements of a bank. Cost of money is more expensive than a bank but much cheaper than a partner.

Are there any other fees besides the loan commitment and loan discount?
The other fees associated with a loan are third party fees - title, appraisal, and legal.

Who orders the title, survey, and appraisal?
The borrower, with our guidance, orders title and survey. Old surveys are accepted, provided accurate. Appraisal is ordered by ESC. Recent appraisals are accepted, subject to review by ESC's appraiser.

What type of income verification do you require?
None. The borrower simply states income and assets on loan application and that's it - no income verification. For properties that generate income, we ask for rent rolls and leases, but property does not need to cash flow.