This financing is provided for the purchase or refinance of an office building, apartment, retail facility, industrial building, medical office and/or warehouse. The real estate can either be owner occupied or income producing, such as rental properties. The collateral for such loans is usually the property being acquired or refinanced.
A line of credit is a loan that allows you to draw money as you need it, up to the credit limit. These types of loans can be paid down and then drawn back up, depending on the structure of the line of credit, similar to a credit card.
Lines of credit are designed to meet short term working capital needs or cover operating expenses. For example, increasing your inventory to take advantage of a seasonal need or simply to get a supplier discount are both good reasons to use a line of credit. Collateral and repayment terms are typically tailored to meet the needs of your business’ cash flow cycle, but quarterly interest payments are required in most cases.
This loan allows you to purchase or refinance computers, vehicles, machinery and or other equipment being used for the function of your business. The repayment terms on these loans typically depend on the type and age of the collateral, but usually do not exceed 5 years.
This type of loan allows a business the flexibility to pay operating expenses while waiting on their receivables to be collected. It is typically in the form of a line of credit and is based on the business having credit worthy customers. These loans have a 12 month maturity and require interest payments at least quarterly.
This financing will cover the costs, such as labor and materials, associated with the construction of a commercial property. Upon completion of the construction, the commercial, retail or residential development project can be refinanced to a long term loan. Construction loans are closed-end lines of credit, meaning they are not revolving, and typically have a 12 month maturity.