Commercial and industrial loans can be used to purchase land, building structures, equipment, or any other large capital expenditures that the business may not be able to afford. One popular type of commercial mortgage loan is the Small Business Loan. This is a commercial loan where the eligibility requirements are based on the business assets rather than on the owner’s financial strength. It is meant to support long-term small business financing. The actual terms are based on the business’s ability to repay, the loan’s purpose, and the assets that are being funded. Just like any other loan, the commercial loans must be paid off with variant amounts of principal and interest.
Commercial Mortgage Loans and Lending
Commercial and Industrial Loan Financing
There are a number of situations that can arise when a business does not have access to the funds that they require for various projects. In such cases, the business may seek the funding that they require through our company in the form of a commercial loan.
Commercial real estate loans are a reliable method for businesses to get funds in order to make strides within their industry, or to get themselves to the next level. The financial requirements that necessitate a commercial loan are typically more short-term than long-term, and often have to do with a business needing to purchase assets such as equipment, inventory or machinery. They are often for purposes of growth and expansion for the business.
If you’re a commercial borrower in the case of a commercial loan, we will require you to submit financial statements at agreed upon times – the statements could be required monthly, quarterly, and/or annually. This is critical as the financial success of the business may have to be used as collateral for the loan so monitoring will be important.
As a borrower with commercial and industrial loans, there are a number of products that you can choose from. Similar to when you’re securing a consumer loan outside of your business, Drew Mortgage offers a number of different products that might fit your specific needs. A line of credit, term loans, and unsecured loans are all examples. As with any other major decision, it’s important for your business to have all of its documents in order, to ensure that you’re getting the financial products that work best for your specific needs and that the process is not delayed.
