Each business has its own set of needs when it comes to a commercial mortgage loan. Businesses can use them to expand their facilities, purchase materials, make much-needed acquisitions, and often most importantly, purchase real estate. That is where hard money lenders, Monroe Funding Corp., come in.
Monroe Funding Corp. is a direct mortgage lender in Florida that offers numerous products for real estate investors to maximize their earnings, including opportunities for a commercial mortgage loan Florida. When borrowing with them, you can expect flexible terms and conditions tailored to your business and real estate needs. They are offering four different ways to borrow with commercial mortgage loans.
Traditional term loans are a great choice for small businesses as they can utilize the loans’ fixed payment on a monthly basis. Most businesses use these loans for material purchases and construction efforts. Small business administration loans, or SBA loans, are partially guaranteed by the federal government, providing low-interest rates and longer loan terms.
Real estate loans are used for commercial real estate purchases and allow for larger loans, ranging anywhere from 15% to 35% of the property’s purchase price. They also include smaller repayment terms and have major prepayment penalties.
A business line of credit allows businesses to borrow a set amount with interest only required of what has been used of the loan. It is a flexible way to ensure you make the most of your spending.
Every business will have different needs, therefore there is no one size fits all when it comes to borrowing commercial mortgage loans. Talk to a trusted loan advisor at Monroe Funding Corp. to get started on growing your business through funding.