What are small balance commercial loans?
A small balance commercial loan is a type of a loan that is offered on all types of commercial property. Higher balance commercial loans, usually above $1.5 million can have rigorous underwriting requirements, while small-balance commercial mortgages are relatively easy to get closed due to a streamlined under writing process. Along with less strict requirements, lenders can offer your commercial borrowers a greater selection of products and packages with more flexibility.
Who are these small balance commercial loans good for?
Small Balance Loans are perfect for when you are:
- Turned down by a bank due to loan size or credit challenges
- Want to cash out a large amount of equity from your existing facility
- Don't report enough income on tax returns
- Need a long-term fixed rate on a commercial property
Many small business owners are unable to get financing for Small Balance loans for a variety of reasons. However, we understand the unique obstacles you may face. You are more than a credit score or past financial challenges.
What purposes these small balance commercial loans are used for?
Our small balance commercial loans are used for the following purposes:
Whether you’re ready to own the building your business occupies or you’ve found a great investment property, we can help you get the money to purchase that building.
Have a high rate or balloon mortgage? Is the rate on your current mortgage adjustable? We can help you get the funds to refinance to a stable long term small balance commercial loan.
(3) Property Improvement
Looking to make renovations to your building? Whether you need a new roof or an expanded parking lot, we can help you get the funds you need to achieve your dream.
(4) Debt Consolidation
You can consolidate business credit card debt, pay off the IRS or state taxes, equipment leases and other monthly expenses with a small balance commercial mortgage from us. We’ll work to understand your financial needs and to develop a commercial mortgage solution that simplifies your billing cycle and lowers the amount you pay each month.
(5) Working Capital
Want to take advantage of some great deals you found on inventory for your business? Need money in the bank to cover bills while you wait for accounts receivables to clear? We can help put the cash in hands for your needs.