A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.
Loan Link can assist you with:
Commercial Loans / Business Lending
Small Business Loans
Commercial Loans, also referred to as Business loans are generally taken out for major investments, such as a new business development or further expansion.
In order to be eligible for a Commercial Loan, similar rules and process applies as when applying for a Home Loan. In order to obtain a Commercial Loan you must have a registered business or company and be able to easily make regular repayments. Evidence of company earnings and historic financial documents will be required as support evidence in your application. In addition to that you will need to provide necessary security for the loan, this can be in forms of residential property, company or personal assets.
What is the difference between a Line of Credit, Overdraft and Commercial Loans?
Commercial Loans a designed to be withdrawn at the start of the contract, and are mainly there to support things like direct business expansion, purchase of plant equipment, renovation, etc. A Line of Credit or Overdraft are often used for operational type of costs, or situations where the Loan is withdrawn over a period of time.
Commercial Loan Options
There are a number of business options available. Get in touch with Loan Link today to discuss the best option for your business.