Hard Money Terms for Commercial Properties

[Justin Taylor]

I'm considering using hard money to cover some of the holding costs and renovation for an indoor storage conversion project in Davenport, IA. Wondering what kind of terms I can expect when using hard money? I understand terms vary from lender to lender, but what are some typical interest rates, points up front, number of months that you guys are seeing right now for commercial hard money deals?

Also, are you making monthly interest only payments or no payments at all until the end of the loan term?