Patch of Land Solves Fragmented Funding Industry with Leading Crowdsourcing Solution
When it comes to finding funding for commercial real estate deals, time is of the essence. Patch of Land (POL) provides real estate developers with reliable, fast access to both accredited investors and capital. The industry-leading crowdfunding portal connects accredited investors seeking to diversify their portfolios using short-term investment properties with real estate developers in need of fast funding. State-of-the-art technology is deployed to provide greater transparency to a real estate lending landscape that has often been fragmented and inefficient in the past. Using a "Makes Sense" underwriting process, combined with comprehensive due diligence, Patch of Land is helping to revolutionize real estate lending.
Bank-Level Encryption Ensures Complete Security
Security is obviously a natural concern in the world of online lending. Patch of Land helps to put aside concerns regarding security by using bank-level encryption and complete transparency. The company is so confident in its products that Patch of Land actually prefunds all loans and assumes 100 percent of the risk up front. As a result, borrowers are able to receive the funding they need for their projects without incurring any delays. Meanwhile, lenders are able to begin earning interest on investments immediately. Basically, Patch of Land steps in to fill in the gaps between overregulated traditional banks and hard money lenders. In the past, when a developer was not able to obtain funding from a traditional lender due to regulatory requirements, the only choice was often a hard money lender. Unfortunately, even hard money lenders do not have unlimited funding. POL is changing all of that.
Patch of Land Offers Numerous Benefits to Developers, Investors, and Communities
Loans issued by Patch of Land typically provide a 12-percent return on investment. The unique lending solution offered by Patch of Land also generates a number of other benefits, including helping to rebuild metro areas, increasing property values, stimulating local economies, and creating new jobs.
Commercial real estate developers have found Patch of Land to be beneficial because it provides a consistent and reliable source of funding. Developers are able to gain access to a large pool of capital thanks to POL's network of accredited investors and institutional investor base.
Speed to closing is also fast. Patch of Land understands the importance of timing and is able to close commercial loans in an average of 10 to 20 days after all due diligence documents have been submitted and a clear title is obtained. Prefunded loans ensure that developers do not have to worry about waiting for the crowd to join, which could result in costly delays.
Patch of Land reports that commercial developers will often make use of the crowdfunding platform as a way to obtain bridge financing. With this option, borrowers are able to acquire properties quickly and rehab the properties as necessary in order to execute exit strategies efficiently.