Author: Gregg Elberg 作者：格雷格Elberg Article source: http://www.articlesfactory.com/ . 文章來源： http://www.articlesfactory.com/ 。 Used with author's permission. 用作者的許可。 Commercial Finance- Hard Money explores the little known world of financing real estate and business accounts receivable with respect to situations that banks and other financial institutions typically avoid.商業金融，硬錢探討了世界上鮮為人知的融資房地產和商業應收賬款方面的情況，銀行和其他金融機構通常會避免的。 The year 2008 will be known for difficult financial times for large institutions, businesses and individuals. 2008年將是眾所周知的財政困難，有時為大型機構，企業和個人。 Financing will be harder than ever to obtain.將籌資比以往任何時候都更難獲得。 The Merriam- Webster Online Dictionary defines hard as:在韋氏在線詞典很難界定為： "1 a: not easily penetrated: not easily yielding to pressure b of cheese: not capable of being spread: very firm “ 1 ：不容易侵入：不會輕易屈服壓力， b的奶酪：不能夠被傳播：非常堅定 2 a: of liquor (1): having a harsh or acid taste (2): strongly alcoholic b: characterized by the presence of salts (as of calcium or magnesium) that prevents lathering with soap 2 ：酒（ 1 ） ：有一個嚴酷的口味或酸（ 2 ） ：強烈酒精B組：其特點是存在的鹽（如鈣或鎂） ，防止用肥皂lathering 3 a: of or relating to radiation of relatively high penetrating power: having high energy b: having or producing relatively great photographic contrast 3 ：的或與之有關的輻射相對較高的穿透力：具有高能量B組：擁有或生產相對偉大的攝影對比度 4 a: metallic as distinct from paper b: of currency: convertible into gold: stable in value c: usable as currency d: of currency: readily acceptable in international trade e: being high and firm 4 ：金屬有別於文件B組：貨幣：兌換成黃金：穩定價值ç ：可用貨幣D組：貨幣：容易接受在國際貿易中電子郵件：正高和堅定的 5 a: firmly and closely twisted b: having a smooth close napless finish 5 ：堅決和密切歪曲B組：有密切napless順利完成 6 a: physically fit b: resistant to stress or disease c: free of weakness or defects 6 ：身體健康B組：抗應激或疾病ç ：免費的弱點或缺陷 7 a (1): firm definite (2): not speculative or conjectural: factual (3): important or informative rather than sensational or entertaining b: close searching c: free from sentimentality or illusion: realistic d: lacking in responsiveness: obdurate unfeeling 7 （ 1 ） ：堅定明確的（ 2 ） ：不是投機或猜測：事實（ 3 ） ：重要的還是豐富的，而不是聳人聽聞的或有趣的B組：關閉搜索ç ：免費從情感或幻想：現實的D組：缺乏反應：頑固麻木不仁 8 a (1): difficult to bear or endure (2): oppressive inequitable b (1): lacking consideration, compassion, or gentleness : callous (2): incorrigible tough c (1): harsh, severe, or offensive in tendency or effect (2): resentful (3): strict unrelenting d: inclement e (1): intense in force, manner, or degree (2): demanding the exertion of energy : calling for stamina and endurance (3): performing or carrying on with great energy, intensity, or persistence f: most unyielding or thoroughgoing 8 （ 1 ） ：難以承擔或忍受（ 2 ） ：壓迫不均乙（ 1 ） ：缺乏考慮，同情，或溫柔：無情（ 2 ） ：不可救藥的艱難的c （ 1 ） ：惡劣，嚴重，或進攻的傾向或效果（ 2 ） ：怨恨（ 3 ） ：嚴格無情的D組：惡劣é （ 1 ） ：在激烈的武力，方式，或學位（ 2 ） ：要求消耗的能源：要求體力和耐力（ 3 ） ：履行或開展以極大的能量，強度，或持續傳真：最不屈不撓，或深入 9 a: characterized by sharp or harsh outline, rigid execution, and stiff drawing b: sharply defined: stark c: lacking in shading, delicacy, or resonance d: sounding as in arcing and geese respectively —used of c and ge: suggestive of toughness or insensitivity 9 ：特點鮮明或惡劣大綱，剛性執行，並制定剛性B組：大幅定義：鮮明ç ：缺乏遮蔭，精緻，或共振D組：探空在電弧和鵝分別使用的c和GE ：提示韌性或麻木不仁 10 a (1): difficult to accomplish or resolve: troublesome (2): difficult to comprehend or explain b: having difficulty in doing something c: difficult to magnetize or demagnetize 10 （ 1 ） ：難以完成或解決：麻煩（ 2 ） ：很難理解或解釋B組：有困難做些ç ：難以磁化或demagnetize 11: being at once addictive and gravely detrimental to health 11 ：一次正上癮，嚴重損害健康 12: resistant to biodegradation 12 ：耐生物降解 13: being, schooled in, or using the methods of the natural sciences and especially of the physical sciences 13 ：目前，在學習，或使用方法的自然科學，尤其是在物理科學 14: of money: contributed (as by individuals or political action committees) directly to a particular candidate or campaign 14 ：金錢：貢獻（如由個人或政治行動委員會）直接向特定的候選人或競選 Synonyms: hard difficult arduous mean demanding great exertion or effort.別名：很難很難要求意味著艱鉅的偉大的消耗，或努力。 Hard implies the opposite of all that is easy . Difficult implies the presence of obstacles to be surmounted or puzzles to be resolved and suggests the need of skill, patience, or courage .硬意味著相反的一切非常簡單。難點意味著存在的障礙有待克服，或困惑加以解決，並建議需要技巧，耐心，或勇氣。 Arduous stresses the need of laborious and persevering exertion ."艱苦強調需要的艱苦和不屈不撓的消耗。 “ As used in this article, hard money is intended to convey the idea that because of the current economic conditions, many financing needs will be more difficult to accomplish.正如本文所用，硬錢是為了表達的想法，因為目前的經濟條件，許多融資需求將更加難以完成。 They will require great exertion and effort to overcome the economic obstacles of the current economy.他們將需要巨大的消耗和努力克服經濟障礙，目前的經濟。 Compared to 2006 and 2007, periods of relatively easy money, to obtain financing today you will have to have firm, definite facts to support your financing needs.比起2006年和2007年時期的相對寬鬆的貨幣，以獲取融資今天你必須要有堅定的，明確的事實來支持您的融資需求。 And the cost of money will be more difficult to bear.和成本的資金將更加難以承擔。 Hard money is harder to find, harder to obtain and harder to repay.硬錢是很難發現，難以獲取和難以償還。 Nevertheless, hard money may be an economic necessity as a means to an end to grow a business or complete a real estate transaction.儘管如此，硬錢可能是一個經濟需要的一種手段，最終成長企業或完成房地產交易。 Why is 2008 a time of hard money?為什麼2008年的時候很難賺錢？ This is a difficult question to answer.這是一個難以回答的問題。 If you ask 3 experts you probably will get three different answers.如果你問3名專家你可能會得到三個不同的答案。 It may be the economic equivalent of The Perfect Storm- a True Story of Men against the Sea. The phrase perfect storm refers to the simultaneous occurrence of events which, taken individually, probably would be far less powerful than the result of their rare combination.這可能是經濟等同於完美風暴，一個真實的故事男子對海。詞組完美風暴指的是同時出現的事件，採取單獨，可能會遠遠低於強大的結果，其罕見的組合。 These occurrences are rare by their very nature, so that even a slight change in any one event contributing to the perfect storm would lessen its overall impact.這些事件是罕見的由於其本身的性質，所以，即使是輕微的變化在任何一個事件作出貢獻的完美風暴將減少其總體的影響。 The stock market crash of 1929 and following depression exemplifies a perfect storm of economic consequence.股市崩盤和1929年後抑鬱症體現完美風暴的經濟後果。 What are these events today?這些是什麼事件呢？ 1) The Mortgage Melt-down. 1 ）抵押熔體下來。 Major financial institutions in the United States are incurring billions of dollars in losses due to the loss in valuation of their investments in mortgage securities.主要金融機構在美國引起數十億美元的損失由於損失估價投資按揭證券。 The consequence for borrowers is that these institutions are less inclined to take risks when loaning money for fear of additional losses.其後果對借款人的是，這些機構不太願意承擔風險的貸款資金時，由於擔心額外的損失。 And their regulators are demanding that regulated lenders raise their credit standards for borrowers to qualify for a loan.和他們的監管要求，規範貸款提高信貸標準，借款人有資格獲得貸款。 2) The devaluation of the American dollar versus other world currencies. 2 ）貶值的美元兌世界其他貨幣。 The US government is spending ginormous amounts of money in excess of what it collect in revenue due to the political compulsion to spend taxpayers' money, the war in Iraq, Hurricane Katrina (and other natural disasters) and the war on terrorism.據悉，美國政府開支ginormous金額超過了它收集的收入由於政治強迫花費納稅人的金錢，在伊拉克戰爭，卡特里娜颶風（和其他自然災害）和對恐怖主義的戰爭。 This makes our currency less valuable.這使得我們的貨幣價值較低。 It makes importing to the US more expensive.這使進口美國更加昂貴。 The American people have less money to spend on goods and services, and their money buys less than it did a year ago because prices of necessities such as gasoline are higher.美國人民更少的錢用在商品和服務，他們的錢購買不到它在一年前，因為價格的必需品，如汽油更高。 3) The current tendency of Federal and State governments to reduce funding for social services, health services and education because of inadequate revenues; this hurts individuals and businesses who have less money to spend on products and services which creates additional drags on our economy. 3 ）目前的趨勢，聯邦和各州政府，以減少資金的社會服務，保健服務和教育，因為收入不足，這傷害了個人和企業誰也更少的錢用在產品和服務，創造更多的拖累我國經濟。 4) The diminishing value of residential real estate all across the United States. This is related to the mortgage meltdown and the fact that many people incurred debts that they cannot repay. 4 ）減少價值的住宅房地產全美國。這是有關抵押貸款危機和事實，即引起許多人的債務，他們無法償還。 The real causes of these events are complicated and beyond the scope of this article.真正的原因，這些事件的複雜性和範圍之外的文章。 Suffice it to say that these are hard times and hard times create needs for hard money loans.我只想說，這些都是困難的時候和困難的時候創造的需求硬錢貸款。 What exactly is hard money?究竟什麼是很難的錢？ Here are seven examples:這裡有7個例子： 1) A commercial real estate loan where the borrower receives funds based on the value of the property, usually 50% or less, at an interest rate higher than a bank would charge. 1 ）商業房地產貸款，借款人在收到資金的基礎上該財產的價值，通常是50 ％或更少，在利息高於銀行將收費。 This is the most commonly understood type of hard money.這是最常見的理解類型的硬錢。 In this financing, neither the income from the property or the borrower demonstrably supports the repayment of the loan.在此融資，無論是收入或財產證明支持借款人償還貸款的。 2) A real estate loan to buy a residential property where the borrower cannot prove their income. 2 ）房地產貸款購買住宅物業的借款人不能證明其收入。 This may be accomplished with financing from a seller, the only party willing to take the risk of non-payment.這可能是完成資金從賣方市場，只有一方願意承擔風險的不付款。 3) A small junior lien on income producing commercial real estate where the first lien is very large. 3 ）一個小國留置權創收商業房地產的第一留置權是非常大的。 For example, a million dollar second lien behind a ten million dollar first lien.例如，一個萬美元的第二留置權落後了10萬美元的第一留置權。 Most lenders simply do not want to consider a loan of this type because of the potential liability for repayment of the first lien. It is ten times the risk of the secondary loan.大多數貸款人根本不想考慮貸款，因為這種類型的潛在還款責任的第一優先權。這是10倍的風險，二級貸款。 4) Most loans to people with less than excellent credit. 4 ）多數貸款人不到良好的信用。 Many loans are based on credit scoring.許多貸款是基於信用評分。 If you do not have a credit score that is high enough for the lender's requirement, you simply do not get their loan and you may or may not be able to find a hard money loan to accomplish your objective.如果你沒有信用評分是不夠高，對貸款人的要求，你根本沒有獲得貸款，並且您可能會或可能無法找到一個硬錢貸款來完成您的目標。 5) Accounts receivable financing to construction contractors, medical providers and sellers of agricultural products. 5 ）應收賬款的資金，建築承包商，醫療供應商和銷售農產品。 Most factors do not offer to these sectors of the economy because of the risks and complexities that are involved.大多數因素不提供對這些經濟部門的，因為風險與複雜性的參與。 6) Purchase order financing for items with gross margins less than twenty percent. 6 ）採購訂單融資項目的毛利率不到百分之二十。 The twenty percent margin is a benchmark for sufficient profitability in a transaction to pay all financing costs and create profits for the business after all costs are paid.百分之二十的幅度是基準足夠的盈利能力，交易支付所有的融資成本和創造利潤的業務後，所有費用支付。 During hard economic times margins are squeezed.在經濟困難時期的利潤率擠壓。 It is a vicious cycle.這是一個惡性循環。 7) Loans to businesses that are particularly negatively affected by the current economy. For instance, a loan to build a new lumberyard is impacted by the downturn in new real estate construction and a lower need for lumber. 7 ）貸款的企業，尤其不利影響當前的經濟。舉例來說，一筆貸款，建立一個新的lumberyard受到影響而減少新的房地產建設和較低的需要木材。 Most banks would simply decline to consider such a loan.大多數銀行只會下降到考慮這種貸款。 The same is true for developers seeking to build new housing tracts or office building developments.這同樣適用於開發商尋求建立新的住房大片或辦公樓的發展。 This is not a good time to try to start a new mortgage brokerage company; although it may be a good time to be a hard money lender provided that you are very, very careful in assessing your transactional risks.這不是一個好時機，嘗試啟動一個新的抵押貸款經紀公司;但它可能是一個很好的時間，是一場艱難的放債人只要你是非常，非常認真的評估您的交易風險。 What do all of these situations have in common?什麼所有這些情況的共同點？ In times of easy money these situations would be less costly to finance and more likely to receive funding.在時代的寬鬆貨幣政策這些情況將是成本較低的資金和更容易獲得資金。 Today, the lender's answer to your request for funding is more likely to be a polite but strong "no way".今天，銀行的回答您的要求，資金更可能是一種禮貌，但強烈的“沒有辦法” 。 Many lenders have effectively (if not actually) shut their doors.許多銀行已有效（如果不是實際上）關閉其門。 Many lenders will simply decline to lend on hotels/motels, gas stations, owner/user properties, properties with any environmental issues.許多放款人將下降只是提供酒店/汽車旅館，加油站，業主/用戶屬性，性能與任何環境問題。 Borrowers who do not have FICO credit scores above 680, with substantial net worth and income will find it is very difficult to obtain many types of loans.借款人誰沒有菲佐信用分數高於680 ，有大量淨資產和收入會發現它是很難獲得許多類型的貸款。 Fortunately幸運  , the door for accounts receivable financing is still wide open. ，大門應收賬款融資仍是敞開。 The bottom line: Hard times in our economy will tend to force more individuals and businesses to borrow hard money- if they are able to get any money at all.底線：在困難的時候我們的經濟將趨於迫使更多的個人和企業的借款硬錢，如果他們能夠得到任何金錢在所有。 Commercial financing with hard money will tend to grow as traditional sources of financing from banks and institutional lenders simply will not be available.商業融資與硬錢將趨於增長，傳統的資金來源由銀行和機構放款人只需將無法使用。 Copyright © 2008 Gregg Financial Services版權所有2008年格雷格金融服務 www.greggfinancialservices.com www.greggfinancialservices.com Source: Free Articles from ArticlesFactory.com資料來源： 自由文章從 ArticlesFactory.com Mr. Elberg is a licensed attorney and licensed real estate broker. Elberg先生是持牌律師執照的房地產經紀人。 Gregg Financial Services is a full service brokerage for commercial finance companies and banks that fund B2B businesses.格雷格金融服務是一個完整的經紀服務的商業金融公司和銀行，基金的B2B業務。 Mr. Elberg arranges funding from $25,000 to $50 million per month at competitive pricing, and works to reduce your financing costs as your company grows. Elberg先生安排資金， $ 25000至5000萬美元，每月有競爭力的價格，並努力降低您的融資成本為貴公司的發展。 For more information about GFS, please visit our website: www.greggfinancialservices.com如需政府飛行服務隊，請訪問我們的網站： www.greggfinancialservices.com | 
