Commercial Land Loans
Contact Us
When planning to build your company’s new premise or commercial space, you will need to worry about the purchase of the land and even its preparation before anything else. Also, choosing the right option to access the funds is important and in Tampa, commercial land loans are the best alternative for it.
Working with an already built property or prepared land is different when compared to handle a project that involves dealing with the preparation of the infrastructure and purchasing the land in the first place, and you might need more funds for one than the other. Therefore, going for the right type of loan will influence a lot on the number of funds you can get to finance the acquisition and plan, how much the lender covers in terms of LTV ratio, and the terms and conditions you get for it.
In the case of commercial land loans, they are meant for companies, businesses, or real estate investors that want to purchase land and prepare the infrastructure for future commercial construction or other specific uses. Usually, people would think about requesting a loan that includes the financing of the entire project: purchasing the land, preparing it, and handling the construction of the commercial real estate. However, lands are not cheap nor usually affordable which is why they represent a great expense and investment in most cases.
As a result, getting a loan for the sole purpose of purchasing the land to, later on, start your construction or any other project you have for it, is usually necessary unless the company or investor has enough funds to cover the expense. Now, how can you acquire one of these loans? Private lending companies are the best option due to the terms and conditions they usually offer which, compared to those from banks and similar lenders, are much better:
- Lower and fixed interest rates.
- Higher LTV ratio for land purchase.
- An excellent or good credit score is not 100% necessary.
- Collateral is needed but can be negotiated: the land or an asset.
Our company, Commercial Real Estate Loan Pros of Tampa, offers several commercial land loans depending on the size of the one you want to purchase and future plans for it. Some of our borrowers and clients cover part of the infrastructure and preparation of the land with this commercial land loan depending on the specific amount of funds they request.
It is not necessary to be limited to the purchase since we know that preparing it can be just as expensive. But we want you to keep in mind that other loans like land development can cover this project a bit better.
How do commercial land loans work?
You have two options:
- The usual request, approval, and get the funds from the lender.
- The lender will finance the land and its preparation based on each stage of the project: for purchase, we provide the required amount and, later on, we will provide funds according to the current steps taking place in the land. In other words, you will not access all the funds.
It entirely depends on the lender most of the time, but at Commercial Real Estate Loan Pros of Tampa, we work with these two options to guarantee you have the traditional method and one that involves us a bit more with you and the contractor to prepare infrastructure and other details. You are welcome to request any of them anytime, but just make sure to comply with the requirements needed for each type of commercial land loan.
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.