Commercial loans are highly diverse and can vary significantly. Typically offered by banks and financial institutions, they come with higher interest rates and shorter terms compared to residential mortgages. The lending criteria are stringent, requiring detailed project plans, financial statements, and proof of income to ensure that the borrower can repay the loan. In addition to the properties themselves serving as collateral, the sponsor or guarantor is often required to provide personal guarantees, further reducing the lender's risk. The terms for commercial loans are quite different from those for residential consumers, often involving shorter repayment periods and, frequently, balloon payments before the end of amortization.
Types of Commercial Loans:
· Trusts (Privacy), C-Corps, S-Corps, LLP’s, LLC’s, and Investment.
· Lot Acquisition and Development (Horizontal)
· Construction Financing (Vertical or Renovation)
For future Lease, Stabilization, Turnaround, or Sale
· Investment Properties
· Fix and Flip
· Owner Occupied Business
Good news! We have experience with all types of loans and know what banks look for. We also know where to find alternative options to banks. Trust that we've got you covered. We'd be happy to discuss your situation. Just contact us, and we'll get back to you.
