Re: What can I use a commercial loan for?
Posted: Wed May 13, 2015 11:11 am
Hi and welcome to the forums awesome.
Lenders may evaluate your commercial property loan application based on the purpose of the loan. If you’ll be using the loan for:
Cheers,
Otto
Lenders may evaluate your commercial property loan application based on the purpose of the loan. If you’ll be using the loan for:
- An investment, then it may be considered a low risk loan, and it may be easier for you to qualify for it.
- The purchase of an owner occupied property, then it will be considered a medium risk loan. This applies when you’re taking out the loan to buy or refinance a commercial property that’s leased to or occupied by your own business.
- Working capital, then it will be considered a high risk loan. It may be difficult to take out the loan if you plan to finance the day to day operations of your business.
- Any other purposes, whether it’s commercial, business, or for investment purposes, it will be evaluated on a case by case basis.
Cheers,
Otto