Some FAQs and Answers about Alternative Commercial Loans

Q. What types of loan programs are considered alternative commercial lending? Some FAQs and Answers about Alternative Commercial Loans

A. Any type of commercial real estate that is distressed, foreclosed, or hard to finance due to property type

Q. I have a 700 middle credit score, but the property I need to finance is a mixed use, will I be paying a double digit interest rate for a commercial real estate loan?

A. Not at all, as long as you have good credit scores, established equity in the property and healthy business receivables, your property would easily fit into a alternative commercial loan program

Q. The commercial property I would like to purchase is in foreclosure, my local bank does not want to finance the property due to the current foreclosure status, so now what?

A. If the commercial property does not have healthy receivables and you would like to turnaround the entire plaza, apartments, or etc., your option would be a short term commercial hard money loan.

Q. Are you a direct lender?

A. No, we are not a direct lender; we have a wide array of commercial real estate lenders we work with. Our consultations are free and our commissions are paid at funding, only if you close your new commercial real estate loan

Q. How long does the process take?

A. 14 to 30 business days

Q. What is the difference between commercial private money and commercial hard money?

A. Commercial Private Money starts with better credit scores and larger loan amounts, 50% loan to value and with amortization schedules of 12 to 18 months.

Q. Do you service customers outside of Florida?

A. Yes, we do.

For more information on how we can help you obtain alternative commercial loan in Naples FL and Miami FL please fill out the online contact form about your concerns or give us a call at 855.885.5199. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

 ~ Allow our team of professionals to assist you!

 

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