Purchasing commercial real estate is slightly different, from purchasing residential real estate. While you are able to use a realtor, in both cases, to find the property you need, there are additional requirements for being able to close the sale on a commercial property. First, you have to obtain your business license and business tax ID number before the sale is finalized. This is because most people title the property under their business name. Next, you need to secure commercial real estate financing, for instance through Commercial Lending Corporation, which requires submitting detailed documents and financial data about your business. A business has to be able to show it is earning enough money to support paying back a commercial loan.
Find the Commercial Loan You Need from Commercial Lending Corporation
Commercial Lending Corporation is able to help all types, kinds and sizes of business operations to obtain commercial real estate financing for a variety of reasons. For instance, you may be adding onto your existing building, and you need a construction loan to complete the expansion. You could also be purchasing a building that is in need of repairs, before you are able to use it, and which would require a loan to allow you to not only purchase the building, but also give you enough funds to complete the rehabilitation project. Refinancing programs are also available to help you consolidate your existing commercial real estate loans into a single payment, or they can be used to draw out available equity for improvements, or to pay taxes and other related business expenses.
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