True Hardmoney Lender are they a dinosaur?

[Warren Hoehn]

The question out there before you, is there any true hard money lenders out there for commercial real estate anymore? ( in Indiana )

[Don Konipol]

Don't know about Indiana, but we lend in Texas on commercial and investment property.

We are a "true" hard money lender in the sense that we do not run a credit check or examine the buyer's financials.

However, we have tightened our criteria in the last 3 years, by lowering our LTV maximum, requiring significant buyer capital contribution on purchase deals, and checking collateral's capacity to meet interest payments. So the easy money, nothing down, high LTV loans are gone.