Loan Terms
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As a private hard money lender, New Way Loans, LLC funds all kinds of loans including personal, start-ups or expansion of legitimate business. Our basic terms on private hard money loan includes
- 6% Yearly Interest Rate
- 25 Years Maximum Loan Repayment Term
- 1 Year Grace Period
- Approval within 24 Hours
- Close In 3-7 Working Days
- Loans from $500K to $500M Approval Requirements
- The Loan Is Guaranteed by a Financial Guarantee Surety Bond
- No Recent Bankruptcies
- No Tax Returns/Employment Verifications Needed
- No Prepayment Penalties
- No Upfront Fee
- No Credit Check or Proof of Income Required
- Loans to Personal, Or Company
Funding Procedure
Borrower is to submit the form online or via email alongside his or her valid ID and business plan which will be reviewed. Once the review is successful, we will send the borrower the loan agreement to go through, fill out his/her account details and sign the loan agreement so the borrower can immediately provide the required Financial Guarantee Surety Bond. The loan will be immediately processed to the borrower’s account details provided in the loan agreement and the borrower will get the loan within maximum of 2 working days from when the borrower provides the Financial Guarantee Surety Bond.
Start by completing New Way Loans, LLC online loan application or via email. You can apply online 24/7, and the application takes less than five minutes to complete. To prequalify, you need to have certain information, such as:
- Business plan OR Executive Summary (For Business Loan Only)
- Valid ID
- Filled Application Form
