Commercial
The term “commercial loan” and “commercial finance” includes both commercial real estate loans and business loans secured by personal property. One example of a business loan secured by personal property might be a loan to a surfboard manufacturer secured by its inventory of completed surfboards that are ready to be shipped out to some surf shops. Another example might be a business loan to a grading contractor secured by his collection of backhoes and skid loaders.A business loan might even be secured by receivables. For example, a dress manufacturer might ship its dresses out to dress shops, with payment expected within 60 days. Once the dresses have been shipped and their delivery has been accepted, the promises made by the dress shop owners to pay for the dresses are known asaccount receivables. A bank might make a short-term commercial loan to the dress manufacturer secured by its receivables.
The commercial Loan program is a traditional commercial real estate loan program providing financing for both owner-occupied and investor properties. Refinance your commercial mortgage loan or purchase a commercial property with low fixed rates, up to and 75% leverage. Funded by both institutional and off-balance sheet assets, Outsmart The bank offers many different program options with Outsmarts CAN DO underwriting guidelines – thus ensuring you get the commercial financing that best meets your individual needs and investment objectives.
Traditional property and Non traditionalLoan sizes from $500,000 – $25,000,00015, 20, 25 and 30 year amortizationsUp to 75% LTV(higher with exception)Multiple prepayment premium optionsRecourse and non-recourse options
Owner occupied or investor propertiesMinimum population requirements3, 5, 7, 10 and 15 year fixed-rate termsPrime rate floating options availableCash out availableMinimal impound reserves660 minimum credit score required1.25 minimum DSCR