Maximum Financial is offering
financing on commercial real estate with easy qualifying. Commercial real estate financing
property types include but are not limited to:
- Apartments and Multi-family Residences
- Automotive Repair Garages
- Auto Body and Paint Shops
- Car Lots and Auto Sales
- Bar / Restaurant and Lounges
- Bed and Breakfast - Hospitality
- Campgrounds and RV Parks
- Car Washes - all types
- Condos - Office / Retail / Warehouse
- Day - Child Care Facilities
- Entertainment Facilities
- Gas Stations - Convenience stores
- Golf Courses
- Hotels - Motels
- Mixed Use - Retail / Apartment
- Mobile Home Parks
- Restaurants / Bar
- Retail Stores
- Self / Mini Storage Units
- ALL OTHER TYPES - Please call.
The maximum LTV ( Loan To Value )
for new real estate financing on commercial property is typically 80 - 85% on
Stated Programs depending on property type, credit, appraised value, DSCR - Debt
Service Coverage Ratio and other factors involved in the transaction. Obtaining
seller financing on commercial real estate is also possible to get to a 90% CLTV
( Combined Loan To Value ) with 10% down. It's really not possible to get to a
no money down situation on business property lending. We at MFI have closed
countless of commercial real state financing transactions, and have never seen any structured
Providers of commercial financing
on real estate, conventional lenders as well as banks, do not lend based on collateral
business property must cash flow and the guarantor's credit scores do play into
getting an approval. The approval process is actually very easy. Simply complete
our Quick Application form online and we do the rest. It usually takes only 48
hours to get at least 2 to 3 lenders to provide a pre-approval which outlines
the full terms of a loan proposal. This 'pre-approval is also sometimes referred
to a "letter of interest" or "letter of intent".
Packaging you loan request in a
manner that makes the investor or lender want to approve you file is what we do
best. Simply put, knowledge of your business and proper preparation in packaging
the file makes all the difference. It's amazing how simple some of
these concepts may seem, but what's even more amazing is how many lender
representatives and brokers fail to
follow these basic principals.
Here are a few general common
sense rules of thumb in preparing for commercial financing requests.
- If you are re-financing: make sure you have your payoff statements and business financials
- If you are purchasing: the sales contract must be valid. If the contract
will expire prior to the closing, get an extension agreement.
- For investment properties, make sure all tenant leases are valid.
- ensure lease terms match rent rolls.
- If the borrowing entity is a corporation of
any type, make sure the corporation is
in "active" status, i.e. active business license, occupational license, etc.
- Be realistic about the property's value.
It's a shame to put together a great loan package, having great credit, getting
pre-approved for a low interest rate, spending the money on an appraisal, only
to have the value come in at an amount that is far less than represented.
- Do not, under any circumstances, order your own appraisal.
Lenders have a list of approved appraisers they use. It may be possible to
use an appraiser of your choice if it is approved in advance.
Call or apply online today for
all the details you'll need to make an informed decision on your business'
financial needs. Professionalism, knowledge, experience and a true desire to be
the best in the industry are what make us so successful. Give us a try on your
next transaction and see the difference the above qualities can make for you.
Bed & Breakfast
RV Resorts Campground
Convenience Store Gas Station
Mobile Home Park