Looking for a commercial business loan

Commercial Mortgage Loans are specially tailored for purchasing or refinancing a property essentially is used for business or commercial use. This could be for the expansion or improvement of a current business premise the expansion of the same, or for commercial investment as well for property development.

The main difference between residential loans and Commercial loans

If you are considering buying a property of less than 75% to be used for commercial purposes, it is considered as a home loan. However a property with over 75% to be used for commercial purposes will be classed as a commercial loan. Commercial mortgage loans can be obtained at different interest rates compared to residential loans sometimes known as a semi commercial loan. 

Commercial Mortgage rates
The interest rate on commercial loans is normally much higher when compared to the residential loan or semi commercial loan. This is quite obvious as commercial loans are considered more of a risk by many bank and commercial lenders, as the ability to meet the repayments is dependant on the overall performance of the business.

 Therefore the rate of interest is charged after the lender has carried out a thorough assessment of your business including probably them looking at your last three years business accounts and a projection for the next year. If your business has a good standing and has shown stability over a period of time then you shouldn't have much problem in getting the commercial loan that your require. The term of your commercial loan can run from 5-25years. The loan can be on interest only or a capital and repayment basis.

If you are looking to buy a business property or expand your current business, we can help you find the commercial mortgage loan that best suits you.

We use only the best commercial loan lenders to help you with your loan problems. We have pre-qualified these companies and set strict standards that they must educate you on your loan and not conceal any costs that you will incur. If you are looking to refinance your home, get a new home loan or just using your equity to consolidate your debt then we can help you find the right lender.