ja_mageia

 

Submitted Application Volume:

$2,658,320,971

Apply For Large Commercial Loan

No obligation and it's free

  • Narrow screen resolution
  • Wide screen resolution
  • Decrease font size
  • Default font size
  • Increase font size
Home Commercial Loan Articles Improve Your Company With A Commercial Building Loan
Improve Your Company With A Commercial Building Loan PDF Print E-mail
Many companies often need to expand. They may be doing it because the company’s business is expanding at an incredible rate, or they may be doing it to help give the business a shot in the arm. Regardless of the reason that they are doing it, there are very few businesses on the planet that will be able to pay cash outright for the expansion or construction of a new building.

As a result, you are going to need to get a commercial building loan to help expand your current building to accommodate a larger inventory and to show your shareholders that the business is doing well and progressing into the future. Of course, getting a commercial building loan is not as easy as simply signing a piece of paper and getting the loan.

The first thing you have to do is get a loan that is going to be the right amount for your construction project. This is when you talk with the construction firm and contractors to find out what the construction cost is going to be. Then, when you have done that, you go to your commercial loan consultant and tell them that the loan you need is about one-quarter higher than what the construction manager and contractor quoted you. The reason for this is that you want a safety net in case costs start to rise, and they will.

Next, you should work with your commercial loan consultant to either get an unsecured loan if you have excellent credit, or a loan with low interest rates. Most construction projects can cost a lot of money, and a single percentage point can be the difference between thousands of dollars with a commercial building loan. For example, if you have a commercial building loan for $1,500,000, and you have an interest rate of eleven percent, then the total cost with interest is going to be $1,665,000. However, if the interest rate is going to be twelve percent, then the total cost including interest on the commercial loan will be $1,680,000. With the changing on a single interest percentage, you end up paying $15,000 more in the long run. This is why you need to negotiate the best interest rate you can with your commercial loan consultant.

Getting a commercial building loan is very important if you want to expand your business and move out of your current building and into one better suited to your company. Of course, it costs money and that is why you need a commercial building loan. By doing your researching and working with your commercial loan office, you can get a great loan, with low interest.
 

Testimonials

<<Pause>>
  1.  
  2. Michael A, Now Restaurant Owner
    "I want you to know how much I appreciate everything! You teamed me up with a niche lender that was willing to loan me the money I needed to buy my restaurant… I had tried everything - banks, C-loans, and many other lending services and NONE of them got me anything except closer to giving up. Because of the complexity of the deal it made everything that much more difficult, but you were there every step of the way and made getting the money that much easier. You didn’t waste my time, responded to my emails quickly, and worked closely with the lending institution until the deal was finalized - this deal would not have been completed without your services!"


    . . . Michael A, Now Restaurant Owner
  3. Bob Jones, Business Buyer
    "I wanted to write a quick note and let you know how much I appreciate all your help in finding a lender for my business purchase. After being turned down by my first lender you were extremely helpful in coaching me to answer the questions appropriately. I knew that I had a good business opportunity, but I didn’t know how to present it properly and honestly don’t believe I would have found a lender without you. Thanks again for everything and most importantly getting me the loan for the business I purchased."

    . . . Bob Jones, Business Buyer
  4. Dr. P. Harps, Business Buyer, Chiropractic Practice
    "Great job! My deal/loan was being botched by another lender I had selected who didn't really care and was going to fall through because of their unprofessionalism.

    . . . Dr. P. Harps, Business Buyer, Chiropractic Practice
  5. Sam Mitchel
    "We just closed on our new business. Thanks for all your help and guidance throughout the loan process. Our first attempt at getting financing through a major lendor without your help was a disaster. We were denied funding and were beginning to think that our dream would not become reality. After coaching us on the application process, you connected us with the right lender which proved to be the key to successfully obtaining the money we needed. Thanks a million!"

    . . . Sam Mitchel
  6. D. Wilson, Business Buyer
    "TheCommercialloan place recently helped me secure a $1.2 million SBA loan for the purchase of this company. Without a doubt, they were instrumental in my successfully completing this transaction. You simplified and significantly reduced the time to complete the loan process. Without their constant assistance, I am certain I would still be stuck in the quagmire of the SBA loan process. They were professional, always available, and they always provided me with excellent and valuable advise and guidance. My contacing The Commercial loan place was the smartest thing I did when I decided to acquire this company. I would strongly recommend that they be the first call one makes when contemplating the purchase of a company."

    . . . D. Wilson, Business Buyer
  7.  

Commercial Mortgage Calculator

Loan amount:

(Use "." for Decimals)
Duration:
years
Interest rate:
%
Monthly repayments:
USD
Total to be re-paid:
USD
Help

Featured Article

Tips To Successfully Obtain The Best Commercial Loan
Obtaining a commercial loan is one of the best ways to obtain capital for a business for expansion, inventory acquisitions, and other business needs.  Obtaining a commercial loan can be a time consuming and stressful process and many business owners are unaware of the common problems that may occur when obtaining a commercial loan.  There are several tips to keep in mind before deciding which type of commercial loan to obtain and which lending companies to do business with that will help make the decisions much easier.  

The most important aspect of obtaining the best commercial loan is to be sure you are dealing with a commercial loan consultant that has a good reputation.  The recent days of easy credit has created many commercial loan lenders that are more than willing to take advantage of unwary business owners and make as much money off of them as possible.  There are a few questions that should be asked of any commercial loan company that the business owner is considering obtaining a commercial loan from, such as how long the company has been in business and what types of loan products and interest rates they have available for the commercial loans they offer.  

When talking to a commercial loan consultant, you may want to inquire how long they have been with the company, the number of loans they have closed recently, and what they believe the interest rate for a commercial loan for your business will be.  The answers to these questions and the level of comfort the commercial loan consultant has for answering these questions will reveal the level of experience that the consultant has.  By asking these questions before asking about the types of commercial loan products they have available, you will show them that they are dealing with an intelligent business owner and reduce the chance that you will be taken advantage of.  If their answers make you uncomfortable, they hesitate or seem unwilling to answer the questions, or you sense that they are not telling the truth, you should choose a different consultant to do business with.  

For most business owners, the goal when obtaining a commercial loan is to get the best interest rate in the least amount of time with a minimal amount of hassle, but rushing into a commercial loan may be an excuse for the consultant to take advantage of you.  Be sure that they disclose all of the costs, terms, and fees up front so you will know the exact amount of money your business will be paying out for the commercial loan.  Obtain the details of the commercial loan in a quote so that you can compare what they offer to the offerings of other lending institutions in the area.  By asking the commercial loan consultant specific questions and getting all of the information about the loan before signing any paperwork, you will increase your chance of having a good experience obtaining a commercial loan.