Having a business is a good survival strategy in the current economy. It is the most advisable solution. Once you have started the business you may realize you need a financing solution for your business to keep itself afloat. This is a task that proves difficult for most businesses as the banks may not find you fully qualified for a loan. Getting a commercial bridge loan is the most obvious alternative for most people as it is a good choice. However it is important to be able to decipher how to get a good commercial bridge loan. You need to understand the different types of commercial bridge loans that are often offered in order to determine the good one for your business. They include;
Hard money lending – Lenders of hard money avail loans to a borrower depending on the amount one has available. This means that they majorly focus on cash flows instead of credit ratings. Most of them normally operate online.
Lending based on collateral – In other instances the lender will base the qualification of a borrower depending on their collateral. Collateral can be a business’ inventory or even their equipment. There are different commercial bridge loans offered by lenders depending on the collateral:
Accounts payable lending – This is also known as factoring. They base their loans on the accounts payable as reflected in the financial statements. This may work in different ways. They may use the accounts payable as collateral for the loan applied for. They may also take the rights to receive the accounts payable in exchange for a loan.
Inventory lending – In this instance the inventory of the business is used as the security or the collateral. The loan amount depends on the size of the business’ inventory.
Lending based on real estate – The commercial bridge loans may also be commercial real estates. The loans are provided when a borrower aims to purchase a commercial property in real estate which can also be a rental property. The bridge loan can be used to act as a down payment for the mortgage taken on the property.
Most commercial bridge lenders operate online and this is the most suitable platform to seek for one. It is also good to look for recommendations from people who have used them before. A bridge loan is only good when it suits the borrower’s financial and business situation.
Have you been looking for a bad credit commercial mortgage refi yet banks are playing hard to get? Well, if your answer to that question is affirmative, you would have found a very effective and reliable source of funding for whatsoever purpose you are intending to after reading this piece. Fortunately for many individuals and business proprietors alike, the Blackstone Financial Services has in the recent years been on the forefront in providing funding solutions to the people who would require different types of loans and credits even if their credit scores are way below for them to qualify for this kind of loans.
In the event that you are obliged to refi your commercial property and or perhaps sell the same commercial property in a bid to stabilize the financial or credit situation of your business, Blackstone Financial Services has proved to be the ideal lending provider to many businesses and other commercial purposes considering the fact that there are very many players in this field of expertise. With a great competent staff, clients intending to make good use of a bad credit commercial mortgage refinance are bound to be guided through each and every step of the way until they get to realize their financial stability and ambitions for their business.
The beauty of taking full advantage of these loan programs is that credit is usually not an important factor as to whether one gets to qualify for the loan or not. Bad credit scores have for a long time now been associated with the inability to repay a loan and this has led to the ineligibility of many people to get access to commercial mortgage refinance. However, those on the look-out need not be discouraged by their poor credit scores because Blackstone Financial Services believes in equal opportunity to all and will gladly assist you in your financial endeavors.
For any business entity to thrive immensely, a proper financial funding structure that works for the good of your company is required. Blackstone Financial Services appreciates this fact and has gone out of its way to become the experts who will settle for nothing other than to provide the best loan available for you and at the best interest rates. Unlike many other companies that coerce people to accept credits with interest rates, Blackstone Financial Services will give you the liberty of choosing your loan package. One certainly can’t get any better than this. So if you are intending to have a bad credit commercial mortgage refinance, look no further, Blackstone Financial Services has got your back.