Commercial Land Loans
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The alternative of purchasing commercial real estate, rather than leasing it, would come with a range of benefits. The right investment may be particularly financially beneficial, especially because buying property typically lets you accumulate equity and take advantage of potential tax benefits. And, provided that some costs of commercial land loans are as low as 3.9%, owning property would lead to long-term savings.
Choosing the best commercial real estate loan
If you’re concerned about purchasing or renovating income-earning homes, one of the first steps you need to take is to determine which loan opportunity is ideally tailored to your needs. Commercial Real Estate Loan Pros of Fort Lauderdale will support and provide you with the right choices.
For some, this option is based on traditional small business loans from financial institutions such as a bank or a credit union (a.k.a. commercial mortgages) versus SBA-related loans. There are, however, other opportunities for commercial real estate loans that you may want to consider, including bridge loans, hard money loans, and construction loans.
What Do Lenders Check For?
Lenders have three sets of provisions in effect before you grant a commercial loan to your small business. These requirements apply to the funding of the company, your finances, and the characteristics of the property:
Business Finances
Commercial real estate loans usually require more caution than residential mortgages; small businesses are considered risky and often do not end up surviving. Banks and commercial loans can continue to track the accounts to ensure that the business has the cash flow necessary to repay the loan.
Personal Finances
Small companies are normally operated by a person or a few partners. Banks and commercial lenders will want to review your credit score and records and see whether you had any financial problems in the past, like defaults, foreclosures, tax liabilities, legal judgments, and more. Low personal credit scores can damage your company’s ability to accept a commercial loan.
Importance of Commercial Real Estate Loans
Commercial real estate loans are a critical part of the economy for a variety of main reasons.
- Firstly, finance is normally required for virtually all businesses to be able to survive.
- Secondly, since commercial real estate loans are typically far larger than residential real estate loans, they constitute the bulk of income earned from commercial banks and other lenders issuing them
Although essentially somewhat similar to residential real estate loans – loans for the purchase of assets usually secured by the land itself – commercial real estate loans encompass a much broader variety of lending forms and are provided by a wider range of styles of lenders.
Commercial real estate loans may be sought for a number of purposes. A business might be seeking to acquire buildings, factories, or commercial premises; a corporation might request financing for the sale of rental property; a home construction company might need a real estate loan to fund a new development project. In all of these cases, the Commercial Real Estate Loan Pros of Fort Lauderdale are here to help you out.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: