A Guide to Lending Without Credit Checks:Asset Based Lending Options for Individuals

It can often be difficult for individuals to secure the investment capital they need to pursue their goals. If traditional lenders are not offering favorable terms or one's credit history is less-than-perfect, it is possible to secure capital through no credit check hard money lenders. This guide offers an overview of asset based finance.

What Are No Credit Check Lending Options?

Lending options requiring no credit check, also known as hard money lending, are forms of private finance secured on a particular asset or collateral. Generally, loans are manageable in amount and incur a higher-than-average interest rate. The duration of the loan is also cycled to reflect the shorter repayment period that should follow such a loan.

What Assets May Be Used As Collateral?

The mark of hard money lending is accepting a borrower's asset as collateral. Different creditors offer different options, but no credit check hard money lenders have been known to accept vehicles, houses, land, jewellery, or businesses as collateral, provided the asset is sufficiently valuable.

What Are the Criteria for Effective Borrowing?

It is important that the collateral is valuable enough to cover any potential losses incurred by the creditor in the event of a borrower defaulting on the loan. The capacity to make regular, timely loans should also be taken into consideration when determining eligibility for financing.

What Types of Financing are Available?

It is possible to secure investment capital from no credit check hard money lenders for personal and business needs alike. Whether for startups, expansions, refurbishments, purchase of residential or commercial properties or any other purpose, asset based lending for individuals is a burgeoning option.