Rural Area commercial real estate financing

[Pratap Bhandari]

good afternoon,

Does a private/ hard money lender Lend money in a rural area?

I have a commercial office building under contract for 375k with 75K down. i have tried conventional, private lender/ hard money.

Everybody  says it is a rural area of only 1700 people year round but it is a Tourist town. So everybody said NO.

I have hard time funding this deal!

[Nick Belsky]

@Pratap Bhandari

That's a tough one.  I have trouble finding lenders who will lend in Gatlinburg, TN... Huge tourist presence, but the population on the books is around 6,000 and its a no go at the zip code to most...

Typically, your best best in rural areas is going to local banks or credit unions.  They are more likely to lend in the communities they are located in.

Cheers!