Applying for a commercial real estate loan through Commercial Lending Corporation (CLC) is similar to applying for a personal real estate loan. For instance, when you are purchasing a home, there are several pieces of data and information you have to obtain as part of the application process. You have to have your tax returns, pull your credit reports and score, and have proof of income to show you are able to pay back the mortgage. With a commercial real estate loan, you also need all of this information on your business, and, in some cases, on you personally, as well. In addition to credit reports, tax returns and proof of income, you may also have to provide business financial statements, such as balance sheets, accounts receivable, accounts payable, projected net earnings, and others. These accounting statements help prospective lenders quickly determine the profitability and risks associated with your business and with providing you a commercial loan.
However, most lenders do not base their decision just on your business’s financial statements and projected earnings. They also will look at what assets your business currently owns and how much equity you have in each one. Further, your credit history is reviewed by looking at the items contained in your credit report and your overall credit score. The amount of the commercial loan is even taken into consideration. For example, if you applied for a $100,000 loan through Commercial Lending Corporation for building rehabilitation, and you had $1 million in assets, and had satisfactory income levels, CLC would be able to find a lender able to underwrite the loan.
You will find a comprehensive range of commercial real estate programs and loans available through www.sbaclc.com. This lender has solutions, not only for businesses and organizations of all sizes, but also for banks and other financial lending institutions. For example, banks often rely upon their deposit relationships with their business customers. These relationships provide a steady flow of cash coming into the bank, which in turn is used to underwrite loans. It is from the interest on these loans that banks are able to earn a profit. So, in essence, the bank’s business customers are the ones helping the bank earn its profits. Damaging these relationships has a direct effect on the bank’s ability to continue to offer services for their customers.
When a business customer applies for a commercial loan, it is not in the bank’s best interest to deny the loan. In situations where the bank is unable to underwrite the loan, for one reason or another, there are still other options available for your business customers. Denying a loan application can cause your business customers to move their deposit accounts to another bank, which reduces your available cash flows. Instead, you could present your customer’s commercial real estate application to http://www.sbaclc.com on their behalf. By outsourcing your customer’s loan needs to Commercial Lending Corporation, you avoid having to tell your customer you are unable to approve their loan. Rather, you are able to inform them that you have found them a suitable solution for their business loan needs and protect your existing deposit relationship.
Obtaining a commercial real estate loan could require meeting with different prospective lenders any time you apply for a commercial real estate loan. Some lenders might require you to come in for a meeting and do a presentation showing how the loan would be used to improve your business. These presentations are on top of the time and effort you have already put in to complete applications and pull together financial data required by the lender. Just because they call you in for a presentation, does not necessarily mean they are going to approve your application. When you apply at multiple places, you may end up having to perform your presentation at each lender. However, there is an easier solution where your loan application is presented to a wide network of lenders on your behalf by applying through www.sbaclc.com.
When you apply with http://www.sbaclc.com, you also do not have to stand up and give presentations to groups of people, as your project needs will already be discussed and evaluated, ahead of time, with one of our underwriters. Our underwriters take your application and talk to our network of financial lenders about your project and the type of commercial loan you are seeking. Because we have access to so many lenders, it is common for you to end up with multiple loan proposals from a variety of sources. After all proposals have been received, you and your assigned underwriter review the terms and conditions of each one, in order to select the commercial loan with the most favorable terms to fit your project’s requirements.
Whenever you are behind on your business expenses and related bills, it can become frustrating, trying to keep your business operating. The reasons for being behind could be the result of a decline in sales, which affects revenue streams. Another common cause is when your outstanding accounts receivable payments are not being paid on time or as agreed to by your credit customers. Not having cash flows directly impacts your ability to purchase raw materials, maintain product inventories and pay your employees. In these cases, as well as others, there are commercial loan solutions available from Commercial Lending Corporation to help get your business back on track.
Find the Best Commercial Loans to Fit Your Requirements through Commercial Lending Corporation
Commercial Lending Corporation (CLC) works with a wide network of financial partners and programs designed to assist their customers in being able to find the best commercial loans to fit with their projects. When you apply for a business loan through CLC, they will take the time to talk to you about your projects needs and requirements, as well as what sort of financial assistance you require. Gathering this information allows them to quickly determine which loan programs and lenders would be ideal candidates for providing a commercial loan for your business. For example, if you are looking for a rehabilitation loan program to modernize your facility, CLC submits your applications to all of the lenders and financial partners who specialize and underwrite these types of loans.
Commercial Lending Corporation (CLC) is a commercial real estate correspondent and broker. Because of their relationships with a variety of commercial direct and private lenders, they are able to assist you in securing the right type of financing you require for your business and other related projects. When you discuss your project details and needs with CLC, it is like speaking to hundreds of potential lenders all at the same time. CLC has the experience needed to determine your objectives and the scope of your project in order to present your application to those lenders that would result in the most beneficial loan programs.
Check the Programs Offered by Commercial Lending Corporation before Accepting a Commercial Loan
In situations where you already have an underwriting offer from another lender, it is worth your time to also submit your commercial loan needs to Commercial Lending Corporation. By taking the time to explore all of your options, it will help you find the best commercial loan program currently available for your business. CLC’s underwriter team is able to review your current proposition and determine whether they have access to any loan programs which might supply you with more favorable terms, a better interest rate, or the ability to obtain a higher loan amount when additional funding is required. While an application fee does have to be paid to have your application reviewed and considered, you are under no further obligations to accept any loan proposals obtained from their network of lenders, unless you prefer the terms over your existing proposal.
There are solutions available for businesses which currently rent or lease their locations. Renting a location does not grant your business any equity in the property and results in an expense with no long term gains. A better option is to secure commercial real estate financing through www.sbaclc.com and purchase your own building. By purchasing your own property, you are gaining equity over time and end up with a viable business asset. Depending upon the size of the property, you might be able to rent out part of the space to another business. The rental income you collect provides your business with addition income that you could use to make your monthly mortgage payments.
Lenders accessed through http://www.sbaclc.com Will Review a Business’ Financial Data
When you are looking at purchasing an existing business operation, prospective lenders, like those available through http://www.sbaclc.com, will review the financial data carefully. It is also worth your time to conduct your own evaluation before submitting a commercial loan application. You might even want to consider enlisting the assistance of an accountant to ensure an accurate assessment is made. You should have your accountant look at a variety of financial forms and data to verify the business is earning a profit. Businesses that are operating in the red are not always a good investment for a first time business owner. Lenders could deny loan applications in some situations where they see a business is not operating at a profit. However, if you have existing properties which can be used as collateral, you may still be able to secure the necessary financing.
New construction projects require careful planning and organization, long before they begin. Initially, a business has to secure a piece of property where they intend to build their new structure. Sometimes the business might already own the land, so this will eliminate this step from their project. Construction costs also have to be considered and include all of the materials, supplies, permits, insurance, equipment, and contractors needed to complete the entire project. It is important to make sure each and every aspect of the project, including estimated costs, are properly calculated in order to have an accurate picture of the amount of money required to complete the project. Once these figures have been obtained, the business is able to seek commercial financing for their construction project directly through http://www.sbaclc.com.
http://www.sbaclc.com Provides Businesses with Different Refinancing Options
Another type of loan product available through www.sbaclc.com is the ability to refinance your existing commercial real estate loans. Refinancing allows you the ability to combine all of your current loans into a single loan. By taking advantage of commercial real estate loan consolidation, you are able to help lower your monthly mortgage payments and end up with additional cash flows each month. A variation of loan refinancing businesses will use is to tap into the available equity in their existing properties. This option allows them to pay off their existing mortgage and obtain a new mortgage for a higher amount. Any proceeds left over after the existing loan is paid off goes directly to the business. The extra cash can be used to help fund a new product launch, provide wage increases for your employees, or pay off other kinds of debts.