Commercial loans help your business buy a new piece of property, like a new or second office, warehouse, apartment building, or manufacturing facility. This can be for your business use or for leasing as a landlord. They are secured by the property your business is buying.
Who Are Commercial Loans Best For?
These loans are great for business owners and property investors who want to acquire commercial property but don’t necessarily meet SBA’s stringent criteria.
How Do Commercial Loans Work?
With our commercial hard money loan, underwriting decisions are based on the property as opposed to relying heavily on a borrower’s credit, income, and assets. The loan is able to fund transactions that might not fit traditional lending guidelines.
Loan Qualification Requirements:
To qualify for a Commercial mortgage, you’ll need:
– A Minimum FICO score of 500
– A business or investment property.
– 35% Equity in the subject property
– General minimum 3% – 3.5% down payment
About This Loan:
– NO FICO Score Requirements
– NO Tax Returns
– NO Debt-to-Income Ratio Requirements
– NO Financials
– Recent Foreclosure or Short Sale OK
– No Income Requirements
– Fast Turn Times
– Your loan can’t exceed 65% of the value of the property
– The property must be an Investment Property -or- a Primary Residence can be used if the loan is for business purposes.
– Eligible property types include: Condos, Townhomes, Single Family Homes, Apartments, and Commercial Buildings