Segway Funding helps Developer close 12-Month Private Bridge Loan

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 5, 2008 -- A Utah County developer has a wonderful subdivision underway but, due to the slowing economy and housing slump, he needed a solution to keep things viable for the next 12 months. He needed a bridge loan (aka hard money loan).

This borrower contacted Segway Funding, Inc. and the rest is, well as they say, history. Segway Funding met with the developer at his subdivision and discussed the terms of the loan, including various scenarios that would be amenable to both lender and developer. Segway and developer arrived at proposed loan terms and the loan received funding shortly thereafter.

This is currently a common scenario for the hard money lending industry. As conventional lenders are basically unwilling to make any housing related loans right now, it has created a great need in the marketplace for financing. Sure they say that they'll look at loans but merely sting the borrowers out and ultimately not make the loan - even to long time clients. Time is as imperative as it ever has been, but conventional lenders don't seem to understand right now. That's where private loans made by individuals, not institutions, play a vital role in our housing economy.

Companies like Segway Funding, Inc. have become such a valuable resource. There is no doubt that hard money is more expensive than conventional loans, but not as much as a borrower might expect. Besides, the amount of equity that would be given up to a new partner usually out weights the costs of the loan. The decision making ability of the borrower and their projects remain in their control as well. Most of Segway's clients agree, hard money loans sure beat bringing on a partner.

If you have never investigated bridge loans or hard money loans before they can be a great temporary financing solution. A great resource is www.segwayfunding.com to see typical loan terms.

Segway Funding, Inc. specializes in arranging borrowers and lenders to originate short-term, hard money loans. If you would like to contact them about this article or for general company information please contact Charlie Crump at 801-273-7700 or email at info@segwayfunding.com

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