Where to find private money lenders or hard money lenders for business loans?

Does anyone know where to find private money lenders or hard money lenders for businesses? I have been trying to get a business loan from the bank but my credit score is not good enough. I am in the process of repairing my credit but I wanted to get my business off the ground because I really believe in the concept. I need a 10,000 hard money loan from private money lenders or hard money lenders. I don't want to go to disreputable private lenders or companies. What I need to know is where to find private money lenders who are reputable and charge a low interest rate because I have property which I can use to asset-back the loan. If I can get a 5% loan over 5 years with no nasty delinquency procedures I would be extremely happy. Any ideas?

What you are looking for does not exist. A hard money loan although is backed by property has a high interest rate, it is also a short term loan with most loan companies offering 12 months to repay the principle amount and interest. Hard money loans usually lend 60% to 70% of the asset value and the interest rate depends on your credit score. Just because you are offering security does not mean the interest rate will be low. The security just gives you access to the loan and the APR is determined by your creditworthiness.

Private Hard Money Loans and Hard Money Lenders are used for short term credit so getting a 5% loan over 5 years with no nasty delinquency procedures is impossible. I might be wrong and proven otherwise.

I would concentrate on repairing your credit file and then applying for a loan which will be on much better terms. Use 12 months to repair your credit and then start on expanding your business. If you can't wait that long try applying for loans from loan companies for people with cad credit. Some of the places you can try are BadCreditLoans.com, Springleaf Financial, Peerform, and Avant. If you get rejected by these companies you really need to concentrate on your credit score.

Hard money lenders are tough loan options. They have short term loan periods with high interest rates. they generally require some solid security. Instead, look for credit repair options to better your score and then apply for a loan with reasonable APR.