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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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We took a hard money loan from a company called on deck capital.

Customer Question

We took a hard money loan from a company called on deck capital. It;s a 15 month, 35% interest loan and is going to put us out of business. Is there anyway to restructure the loan or somehow get out of it? We need it for expansion but it is bankrupting us. We made a bad decision in taking the loan. Our business has expanded greatly but we have to pay $350 a day to the loan and it has destroyed our cash flow. Any advice
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Andrea, Esq. replied 1 year ago.
Hi, my name is Andrea
1. What State are you in ?
2. Did you personally sign the promissory note or did your business sign the note ?
3. Is your business a corporation ?
4. What was the amount of the loan ?
Thank you and I look forward to your reply,
ANDREA