Commercial loans are generally short term loans that are used to purchase larger properties like  multi-unit properties. At JZ Mortgage, we are able to fund up to 100 million dollars to purchase properties from 5-100 units. If you are in the market to purchase one of these properties, we would love to discuss your options with you and get started on the process.

How Can Commercial Loans Be Used?

Commercial loans can be used to purchase office buildings as well as mutli-family properties as well. Many of these purchases are made by investors and they generally need to fund the loan quickly and that is why a commercial loan with JZ Mortgage can assist with this and fund loans up to 100 million dollars. We have the resources needed to secure funds privately for you if the situation matches with our criteria.

Commercial loans without a sizeable down payment are rare and can only be funded privately so we’d love to discuss your ideas and any potential projects you might have in mind. If you are new to this type of loan, you’ll want to make sure you meet all the qualifications before starting out on your project, so be sure to set up an appointment with us so we can answer any questions you may have.

Business owners that are looking for a commercial loan are usually looking for funds in order to fund basic operational costs or to help out with making a large purchase which will in turn generate a profit from a lease or rental agreement.

How To Qualify?

When it comes to qualifying for a commercial loan, your financial history and credit worthiness is just as important as it would be with a traditional loan. It’s important that when you apply for a commercial you have your financial documents in order to make the process that much smoother. The documents should so that the business is in good financial standing and that it can repay the loan in a timely manner. This will prove to the lender that they are making a sound investment and that the loan will be repaid.

What’s Next?

Once you’ve submitted all the paperwork and get approved for a commercial loan, you will have to agree to the terms of the loan. The interest rate will be set by the market that falls in line with the prime lending rate at the time of loan. You will also need to keep up with providing proof to the lender that you are on track financially with statements or or similar documentation.

Although commercial loans are generally used for short term situations, they can also be used to fund a project or purchase in other occasions they can be extended or renewed to manage something that needs funds consistently for an ongoing project. Commercial loans that are used to purchase large properties may need to be extended if there are repairs that need to be done or there is an extended period of time between when the building will be purchased and when it can start generating money.

Contact Us Today

We know that when an opportunity arises, as a business owner,  you have to secure it to ensure you don’t miss out on a great deal, and we can be the ones to get you those funds just as quickly as you need them. Reach out to JZ Mortgage Services in Bradenton, FL today!