How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
Type Your Real Estate Law Question Here...
Tina is online now
A new question is answered every 9 seconds

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: 2 years ago.
Category: Real Estate Law
Expert:  Andrea, Esq. replied 2 years 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,