A-Commercial-Land-Loan-Allows-Businesses-To-Purcha15

160
-1

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
160
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

A-Commercial-Land-Loan-Allows-Businesses-To-Purcha15

  1. 1. A commercial land loan allows businesses topurchase land, buildings, or other property. Likea home mortgage, a commercial land loan uses the property being bought as collateral against the loan. Unlike the process for homemortgages though, approvals for land loans are based on the property you�re interested in buying. You�ll need a solid business plan and careful evaluation of the land to receive funding.http://loandirectorysg.com/
  2. 2. When buying a new property for your business, location is essential Finda real estate agent that knows the area as well as the business potentialHe/She should help you evaluate foot and vehicle traffic, zoningregulations, and any previous uses and their success or failure
  3. 3. You�ll need to convince your lender that your new property will makemoney Detailed financial plans, reports, balance sheets, tax documentsand sales records will be required to show the overall health andsustainability of your business A new property will mean a new businessplan, tailored to what you plan to accomplish once you move
  4. 4. Prepare a detailed analysis of the costs and income you expect in yournew space and be sure to include the costs of staffing, maintenance andloans on the new property as well as a contingency plan for anychallenges you may face There are many lending sources available, butit�s important to choose one that will work for you and is reputable inyour community This is an essential step in getting into the rightcommercial land loan
  5. 5. Look for well established lenders and ask for references from otherbusinesses that have used them The best lenders will give youhttp://loandirectorysg.com/ advice on what to look for in a property toensure a lending source that you�ve thought out your choices and arewell informed They may also guide you thorough the process of gatherinformation needed to apply for your loan
  6. 6. It can be almost impossible to receive a commercial property loan as anew business In most cases, owners need to plan on renting space for acouple years to establish credit before delving into the world of ownership Raw land loans are also available through the Small BusinessAdministration (SBA)
  7. 7. They will guarantee up to $750,000 to enable small businesses to getapproved without large amounts of collateral They may also suggest youwork on a 1-3-5 program: Find one small bank loan, 3 business creditcards and 5 vendor lines of credit
  8. 8. This can establish the legitimacy of your business and put you on thepath to commercial land ownership in no time
  9. 9. http://loandirectorysg.com/

×