Commercial Property Loan
Do you need a Commercial Loan?
To outsiders, corporations seem almost unimaginably rich. However, if you're looking to buy or develop commercial property, you know that the reality is quite different. Just like most individuals get loans to build their houses, your company will almost surely use a commercial property loan to fund the completion of your project.
Commercial property development loans can be like large versions of residential mortgages, but in some cases, the money will be used quite differently. You may need funding to build 300 houses for a new residential development, to create a new office complex, or even to renovate an existing apartment complex. Due to the amount of money in question, you will also end up dealing with different lenders or different divisions of the more well-known ones.
You will also find that there are some options that aren't always available to individuals. Those who offer commercial property development loans know that you don't always have weeks or months to wait for approval. In that amount of time, the opportunity may be lost due to someone else buying up the property or because a competing development beat yours to the market. Therefore, commercial lenders offer options that allow you to get funded quickly, such as using your cash flow as a basis for approval. You can also get a more conventional commercial property loan if you have more time.
One of the best ways to get a good picture of all of the options that are available for funding your project is to meet with a commercial loan broker. Here at Proteger Financial Solutions, we work with a wide variety of banks so that we can offer many term options. Give us a call today.