This Commercial Mortgage Lender Shares Hidden Financing Secrets
Types of Commercial Loans Available
Commercial loans come in various forms, each tailored to specific needs and project types. Some of the most common include:
- Traditional Commercial Mortgages: These are standard loans provided by banks and financial institutions, typically with fixed or variable interest rates and terms ranging from 5 to 20 years.
- SBA 7(a) Loans: Backed by the Small Business Administration, these loans are ideal for small businesses seeking to purchase or refinance commercial real estate. They offer competitive terms and require lower down payments3.
- Bridge Loans: Short-term loans designed to bridge the gap between the purchase of a new property and the sale of an existing one. They provide quick access to capital but often come with higher interest rates.
- Construction Loans: These are used to finance the construction of new commercial properties, with funds disbursed in stages as the project progresses.