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Follow on Google News | Commercial Loans – A Solution For BusinessCommercial loans are based on the consumer’s business needs taking care of their financial needs and inculcating a sense of security within them for their property.
By: Sarah Conner To get a commercial loan sanctioned it is not that difficult but the creditors will always check your financial status first before they offer you a commercial loan. An important thing that is always taken into account before a creditor gives out a commercial loan is the debtor’s credit history and their demands. Different kind of policies and processes are followed before a commercial loan request is approved. Initially, the loans were also sanctioned at the creditor’s guidelines and their credit policies. One of the important factors to be kept in mind is the flow of cash. These days, Commercial properties are more in demand than residential properties because it is used for business purposes. The lender normally will ask the debtor to pay 20% initially and then a bank or mortgage institution as commercial loan gives the 80%. Before a commercial loan amount can be disbursed loan to value percentage is calculated which further is divided by the purchasing price of the property. The guarantors also need a good credit history and their income proofs are very necessary. Different types of commercial loans are available in the market, which are listed as below: Owner Occupied Commercial Loans This type of a loan is available for business owners who want to buy an office or a warehouse or for that matter any business organizations. Commercial Bridge loan Commercial Bridge loan comes into existence when the borrower is planning to sell a property or refinance the property after a certain period. So., this loan helps the borrower to gain an interim financing. Commercial Real Estate Loans It is designed to take care of the financial need of small-commercial building like industrial buildings or retails shops etc. Commercial Mortgage loans You can find Commercial Loans at http://www.chumsfinance.co.uk/ These investor loans give a wide range of options to the purchasers or the owners owning large building structures like offices, industries, apartments and hotels, etc. Please visit the best option for http://www.chumsfinance.co.uk/ End
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