hard money lender

Learn more about a hard money lender near you!

If you are looking for a loan that allows you to acquire and reposition a retail, office, an industrial property, then one of my hard money loan programs is for you.

 Asset Based Lending is a direct private lender ready to help with your hard money loan needs. With their own money to lend, ABL continues to fund private real estate loans during these uncertain times.

Get Funded!

Our program is borrower friendly!

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    Are you a first time hard money loan borrower? No problem. As investors ourselves, we know what it's like to shop for hard money lenders and we will offer you our full support and expertise. Complete the form and we'll reach out to you immediately.

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    Hard Money Lender Direct offer's the best rate programs in the hard money loan industry. Our programs are ``doc lite`` and very borrower friendly. We require minimal information in order to get your loan approved and issue you a term sheet.

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    Loan approval within 24 hours and we close in as few as 3 days. Our money funds your project, which gives us the ability to make decisions faster than anyone in the industry. Hard Money Lender Direct knows time is money and speed is our commitment to you.

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Hard Money Loan Amounts from $150,000 to $4,000,000

We fund up to 85% of the purchase price, 75% of the after repair value, and we always fund 100% of the construction budget.

Loan terms from 12 months to 30 years!

No prepayment penalties, extensions are available at the Hard Money Lender’s discretion.

Rates as low as 4.99%!

We offer competitive rates to residential real estate investors.

We close in as little as 7 Days!

24 hour streamlined loan approval process, and loan close on average in about 10 days.

The fastest local source for hard money

Our hard money loan programs are tailored to meet the needs of residential real estate investors.
We make your vision a reality

We fund 100% of construction and our draw process is FAST!

Watch the magic happen

Our loan process is fast and efficient. Loans approved in hours, we close in days.

Rinse and Repeat

60% of the hard money loans we close are with repeat clients.

Featured Rhode Island Properties

Look at what ABL's borrowers have been up to!

Why work with Hard Money Lender Direct in Rhode Island?

A hard money loan for new construction provides the builder with capital to fund a portion of the purchase, as well as construction of the house. Typically the hard money lender will fund up to 70% of the lot purchase and hold back 100% of the funds to cover the cost of construction. We always size our hard money loans to cover 100% of the construction costs. This helps because we are underwriting the future value of the completed house. It gives the lender the security of knowing the funds will always be available to complete the project. The construction funds are “held back” and funded as work is complete using an industry standard construction loan draw process. My hard money loan program does not charge interest on the construction hold back. We only charge interest on the outstanding loan balance. As a hard money lender, we understand that time is money so I make sure my hard money loan draw process is fast. The process requires a 3rd party inspector to visit the property and issue a report with pictures showing work complete. Normally, I expect this whole process to take only 48hrs. The approved amount is wired into the borrower's bank account and the project continues forward with the borrower being reimbursed for work performed until completion.
new construction loan
new construction lender

Why choose Rhode Island for your next project location?

It’s easy to get a hard money loan for new construction! Unlike conventional real estate lenders, a hard money lender requires a lot less paperwork. Once you get the lot under agreement, you call me and provide me with a detailed construction budget, plans, and specs of finishes. As a first time borrower I’ll need to get to know you and how experienced you are in building houses, so I'll ask you to provide me with an experience worksheet. We don’t need tax returns or require a lot on the borrower’s financial condition. At this point I now have the ability to complete my underwriting and submit the loan for approval. Loans are approved within 24 hours, and a term sheet is issued to the borrower. Our conditions to close are 1) an appraisal that concludes a value of the completed house that supports our loan 2) we pull credit with a minimum score of 650 3) we ask for proof of liquidity to make sure the borrower has the down payment and working capital for construction.

Get Your Rate Today!

Pre-qualifying does not require you to provide sensitive personal information. No credit pull needed until the loan is approved/committed by your hard money lender!