Commercial Loans are a short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing
How Do Commercial Loans Work I Who Do They Benefit
Commercial loans tend to benefit businesses who are looking to purchase long-term assets or to fund the operating costs of day-to-day business expenses.
Soft Money Loans
Soft money loans tend to close faster than traditional loans and are long-term real estate investments.
Requirements To Qualify For a Commercial Loan
· Credit Application
· Last 2 bank statements (US bank account)
· Copy of ID and Borrowing Entity docs
· Purchase Contract (If Purchase)
· Property Insurance
· Lease Agreement (If Applicable)
Benefits
· Extremely low-interest rates
· Easy application process
· Access to capital
· Borrowers can retain equity and ownership of the business