Cheap hard money lenders for small businesses - less than 10% over 5 years

You wont find a hard money loan between 5% and 10% over 5 years even if the asset is backed by property. Hard money loans are available to people with bad credit who have property, the interest rate will not be low because you have security, the security only approves you for the loan. Also Hard money loans are shorter in duration and I don't think you'll find anything over 5 years, the max term is short term and under 12 months. Most reputable hard money lenders will have a procedure in place if you can't make the repayments and I expect they will give you a few chances before the repossess your property.

To start a business on a hard money loan is risky. Rather than taking out a hard money loan you might be better off improving your creditworthiness. If you can wait 12 months you could significantly improve your credit score with some simple tricks you can find here.