Commercial Loans

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Commercial Loans

We can help you get a Commercial Loan

As your company continues to grow, increasing your workspace through a commercial mortgage becomes increasingly important.

More information about our commercial loan offerings can be found by contacting us via email or by telephone at 804-212-8663 . Our qualified professionals are ready to answer any and all of your commercial loan questions as well as help you begin the application process.

Keep Control of Ownership

Benefit from Property

Improve Cash Flow

Reduce Business Taxes

How Do Commercial Loans Work?

A commercial loan differs from a residential mortgage in that the collateral used to secure a commercial loan is a commercial building or business real estate instead of a residential property. What’s more is commercial mortgages are generally assumed by a business entity instead of an individual borrower. As a result of this, assessing and securing a commercial mortgage is somewhat more complicated than a residential mortgage. A complex process involving many factors plays into determining creditworthiness for a business. At Duane Buziak Mortgage Maestro it’s our privilege to guide you through this new and exciting process. Two of the most important aspects of a commercial mortgage to keep in mind are interest rate and loan repayment schedule.

Interest Rate

Most commercial loans offered today are fixed. This means you have the security of knowing that if interest rates were to increase you wouldn’t be stuck making higher monthly payments. Conversely some borrowers are opting for a variable interest rate to take advantage of lower initial payments. However, a loan of this nature runs the risk of having interest rates increase and thus increasing your monthly payment.

Loan Repayment Schedule

Unlike residential mortgage loans, most commercial loans require a balloon payment at some point during the loan term. This means that after a given amount of time making small monthly repayments, the borrower would be required to make a large final payment consisting of the remainder of the loan. Loan Repayment Schedules which call for a longer time to repay the loan typically have higher interest rates.

Qualifications for a Commercial Mortgage

Qualification for a commercial mortgage depends largely on the type of property or building that is being applied for. For a more in-depth look at qualifying commercial properties please check out our commercial loan type page. Despite some specifics on certain properties there are general criteria for qualification. As a business owner it is important for you to be able to show that your company has an appropriate debt to cash ratio. Even a company with a poor credit rating can still receive a commercial mortgage if the primary owner can show good personal credit as well as sufficient liquid assets. Additionally, your company will need to show a continued and stable pattern of profitability as well as plans for future growth. This might include, but not limited to, copies of your business plan, earning projections and long-term business goals. For a more detailed and personalized assessment of commercial mortgage qualifications please email or call 804-212-8663 today and speak with one of our commercial loan specialists.