C&I Loans
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The differences between loans for individuals and companies or corporations not only lie in how much money you can request but also in the requirements and conditions of the loans. Therefore, if you are a business trying to access C&I loans, remember the process won’t be the same as with personal credits.
You can have many benefits if you apply for a loan that adjusts to your specifications, projects, needs, and goals. Therefore, even if you need to purchase commercial real estate for your business and use your own credit score for it, you do not have to rely on personal loans but rather focus on finding commercial ones that allow you to use your personal score.
The same takes place with loans meant for other expenses: new projects, acquisitions, business amenities, paying employees, maintain cash flow, and more. Now, focusing on C&I loans, why would you need them in the first place? For all the needs above. Usually, commercial credits cover real estate, expansions, renovations, and very specific expenses and projects.
However, corporations and industries as well as any other business can rely on C&I ones to fund different projects and needs that are not related to properties or real estate at all. Even when you have enough funds to finance them, you might consider the idea to use loans for it since you get more opportunities to use your savings and revenue for other projects, maintain them in case of emergencies, and you have more freedom despite the regular payments and interest rates. With this in mind, the problem can be the lender you rely on for the loans.
Banks, pension funds, and similar lenders tend to have many requirements, conditions, and terms that are not fair in most cases for any industry, company, or business. Therefore, private lending companies or individual lenders are the best options.
At Commercial Real Estate Loan Pros of Tampa, we can offer you C&I loans and the requirements we establish for anyone are quite simple to meet:
- Provide credit score and financial records.
- Let us know for what you are requesting the funds, the total amount of the expenses, and how much you expect us to cover or amortize for you.
- Basic personal and business information.
- Collateral, which can be assets or properties.
What are the terms and conditions?
They will always vary depending on the lender. However, the loan term is short compared to regular ones and thanks to this, terms and conditions are fewer as well and more reasonable. In our company, we work with interest rates that range from 2% to 7% and loan terms from 1 to 3 years only. This means the funds you can request are also limited but mostly by your own repayment ability.
The collateral must match the total amount we are offering and we are quite flexible with this, but we will always push a bit when it comes to monthly payments and how you are dealing with them. However, there is nothing to be afraid of when having us, Commercial Real Estate Loan Pros of Tampa, as your lenders for C&I loans. We will focus on providing the loans under fair and good conditions for you and us.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.