Financing involving non-traditional loan products which carry a higher risk and therefore generate a higher return for the lender or investor.  The loans that hard money lenders engage in are much riskier than a traditional bank loan because of the financial situation and credit rating of the company or the borrower.Most of these types of loans are based on the equity in the property.The lender has no other recourse if there is a default with the loan.These types of loans are typically short term loans.Many of these products do contain pre-payment penalties, others do not. The terms and conditions will vary depending on the nature of the borrower's circumstances and equity position. These types of loans usually can be closed in as short a period of time as 10 days. Many of these loans are used for short term goals to improve the borrower's financial position until permanent financing can be obtained. Most of this money comes from private investors.

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