Why is it called Hard Money?

"Hard Money" is the name given to a loan scenario when the parameters of the deal is outside the typical bank lending guidelines.

If the bank will not make a loan due to problems with the property or the borrower, the loan will fall into the "hard money" realm of lending.

Unfortunately, many people think that the term "hard money" means the same thing as "stupid money." This is not the case.

It's called "hard money" because it is a hard/difficult/impossible loan for the average bank to do.

Often times a "hard money" loan is far EASIER to obtain than a normal bank loan, because most hard money lenders will NOT require all the financials/tax statements/bank verifications/employment verifications blah, blah, blah...

Got a hard money deal? For Land or a commercial.