Commercial Mortgage Broker
What can your commercial mortgage broker do for you? If you have not ever met with your commercial mortgage broker now is a good time too. A commercial mortgage broker can offer you a wide variety of products and services - such as a commercial mortgage or a commercial bridge loan - to fit the needs of your company, whether you are rapidly growing or just chugging along slowly but surely.
The following are examples of some of the products and services a commercial mortgage broker might be able to offer your business:
Like you might imagine, any commercial mortgage broker will be able to extend you a commercial mortgage. A commercial mortgage is essentially a mortgage on the building and land that your business occupies. If you are looking to refinance your commercial mortgage you would be wise to talk with your commercial mortgage broker and see what kind of rates he can get you. Currently rates are at or near all time lows so now would be an excellent time to refinance your commercial mortgage and lock in those rates for the future.
If your business has just experienced a jump in growth then now might be a good time to build your office space and get out from under those lease payments. Again your commercial mortgage broker can help you by drawing up a contract for a mortgage that meets your needs.
Perhaps your business has experienced strong growth and you want to continue to push for more growth but your company is lacking the capital to do so. Your commercial mortgage broker can help you in this scenario as well by offering you a commercial loan. A commercial loan will give you the cash you need now and as your business grows and you are able to improve your profitability margins you can pay down the commercial loan. The size of the commercial loan your commercial mortgage broker is willing to extend to you will of course depend on the credibility of your business plan, the experience of your management team, and the risk involved, just to name a few of the factors that go into the lending decision.
The only surefire way to know what your commercial mortgage broker requires is to visit their office and find out what it will take to get their financial support.
Your commercial mortgage broker should also be experienced in issuing a commercial bridge loan. A commercial bridge loan is a financial instrument that helps companies acquire financing for mortgages in a relatively short period time. Likewise, a commercial bridge loan is typically only issued for a short period of time. You might need a commercial bridge loan if your primary mortgage is coming due and you do not have time to refinance. In this case you can work with your commercial mortgage broker to push through a commercial bridge loan rather quickly so that you are able to cover the mortgage that has come due. Then you can work with your broker to roll the bridge loan into a more long term form of financing, such as a commercial mortgage.
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Adam Smith is an informational author for 10X Marketing.com To learn about an investment property, visit SNCLoans.com