Commercial Loans



1. You need perfect credit to qualify for commercial loans.

False
Lenders do not require an applicant to have perfect credit. Those that are fortunate and have good credit can more than likely obtain better interest rates on their commercial request for funds. These fund requests can have either fixed or variable loan rates.


2. Commercial loan lenders will vary their minimum and maximum loan size.

True
Lenders can vary the amount and size of what they are willing to lend. When looking for a commercial loan financial institution, be sure to check their minimum and maximum amounts and the requirements that correlate with the loan size. It is wise to shop around for commercial interest rates in order to ensure the best deal for a unique situation.


3. The property value and your ability to pay back affect your commercial loans.

True
Lenders evaluate the property value (used as collateral) and applicants credit history. Also, the more secure the ability to pay back the funds, the more likely it will be to secure a good deal on interest rates.


4. Loan counselors are available to help with commercial loans.

True
Most lenders have qualified counselors available to guide an applicant on making a commercial financing decision. It is fairly fast and easy to apply online and see if qualification for commercial financing is an option. Loan counselors can also be found online for assistance.


5. Commercial loans can be a wise investment.

True
Proverbs 11:24-26 - There is that scattereth, and yet increaseth; and there is that withholdeth more than is meet, but it tendeth to poverty. The liberal soul shall be made fat: and he that watereth shall be watered also himself. He that withholdeth corn, the people shall curse him: but blessing shall be upon the head of him that selleth it.


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