Unsecured Commercial Loans? (2018 Interview): How To Secure Commercial Loans [Review]

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Securing Commercial Loans
Secure your free small business loan analysis
GUEST: Yolanda Leamon
CONTACT: Yolanda@LeamonBusinessServices.com
Spanish & Portuguese translator available

Commercial loans are very useful for businesses that need capital to meet desired goals and expenses. In such a situation,.

Bank lending, which is an example of a commercial loan, is a crucial and important source of capital for many companies. Business lending, in this case, includes equipment lending, commercial mortgages (which are loans that you can use to buy buildings), loans secured through accounts receivable, as well as loans that you should use for such corporate programs as business expansion.

Unfortunately, securing a commercial loan from banks can be time-consuming, expensive and formidable. That’s why this interview with Yolanda Leamon is crucial to the success of your company. Find out what you need to know for securing your loan in this video interview.

Additional questions you may be interested in having answered include:

1. How do Commercial Loans Work?
2. What is a Commercial Property Loan?
3. Can I Get A Commercial Property Loan Even Without Putting Money Down?

[How do Commercial Loans Work?]

A. Defining Commercial Loan Terminology

A commercial loan can be defined as a funding arrangement based on a debt between a financial institution and a business. This loan is typically used for funding major capital expenditures and covering operational costs that a business might otherwise not be able to afford on its own.

B. More on Commercial Funding

Commercial loan providers may require balloon repayments. As such, borrowers need to pay the principal and interest on a 30-year mortgage, for instance, at a given interest rate for several years – which could be anything between 3 and 10 years – before repaying the full balance in a much shorter time period.

[What is a Commercial Property Loan?]

A. Understanding Commercial Property Funding

Otherwise known as commercial mortgages, commercial property funds are those that are mortgage loans secured for commercial real estate purchases – including apartment complexes, industrial warehouses, shopping centers, and office buildings. Proceeds from these mortgages are usually used to redevelop, refinance, and acquire commercial property.

B. Interest Payable on Commercial Property Investments

Like with any other kind of loan, you need to pay interest on your commercial property loan. Following below are some types of loans and the average rates of interest on them:

• Conventional Bank Loan – 5 to 7 percent (variable or fixed)
• Hard Money Loan – 10 to 18 percent (variable or fixed)
• Online Marketplace Loan – 8 to 12 percent (variable or fixed)
• SBA 504 Loan – 3.5 to 6 percent (the rate will be fixed on the
SBA portion, but it will be variable or fixed on the bank portion)

[Can I Get A Commercial Property Loan Even Without Putting Money Down?]

If you need a commercial property loan but you have no money to invest in it, here’s what you should do:

• Assume the mortgage you already have
• Borrow the money
• Exchange your skills
• Get a partner
• Get seller financing
• Lease the property with an option to buy it
• Negotiate separate installment plans for the required down payment
• Negotiate the property’s down payment
• Swap your personal property for commercial property
• Trade another property with the seller

Overall, getting a commercial loan for your business makes a great deal of sense. Whether you are looking to expand your operations, take care of recurrent expenses, or even invest in commercial property, few businesses can operate successfully without these loans.

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