WHY because as hardmoney lenders they have more control over there capital.I have been one over the last 30 years my last shop was 35 million so we were not tiny but we were not SEattle funding either.. more on the line of East side or vestus.Borrowers just don't jump ship for 1% or a little cheaper.. they will stick with who will allow them to scale.so when I want to do a 100% deal for one of my long time borrowers no problem. your not going to be able to compete.. the day of 20% plus rates are gone of course.But the portals all want to make 14 to 18% apr just like the HML companies.Can you take market share no doubt but you will have to build it just like I built my companies excellent customer service and flexibility.. right now the Portals like RS have very stringent underwriting they cannot compete with many of the local guys in this market that have 10 to 30 mil to lend. and there is only so much hard money demand in a given market as we know.Vestus and East side get a lot of their business by providing capital to buy at courthouse steps this is highly complicated and lots of moving parts your portals will no way be able to compete at that level.Were I can see a portal doing well though is with bigger funding deals that the HML won't take on.. like larger credit type lines etc we have had some interest from portals for this.. and its not at all competition with the local guys.

@Sernel Joseph there is one tonight at the houstons grille in the city center hosted by Jet lending.. usually a pretty good turnout. starts at 6pm. 

Even if your lending officer says this will work, you'll get denied down the line when they get the documentation required to close the loan.

If it gives them a stronger lending position, they may be into it. 

I need to set up a bank account for a Series LLC, anyone know which financial institution would best understand this kind of LLC and is easy to work with for a business?

Any thoughts on recommendations for lenders that will lend smaller amounts?

I've been here close to 2 years now and have and have found that lending here is quite comparable to the US......but without the hustle and bustle of the good ole "rat race".  

They will also happily loan you pretty much all of the difference as a home equity line ... lenders make their money from lending. 

Lots of stress through the lending process2.

Account ClosedEmail me on what you're looking for and I can certainly lend a hand.