The commercial real estate market is expanding daily to make itself very competitive. So, you can’t sit back and relax without having a grasp over your company’s finances. Moreover, the developed and well-financed rivals make it more challenging for you to survive. Your commercial space is always at risk amid this cut-throat competition, and you can’t afford to utilize the business operation amount. You have to find a trustworthy credit source. Here comes the need for choosing commercial loan Truerate services.
What is a Commercial Loan?
A business entity takes a commercial loan to finance their large amounts purchases and an expansion of operations. It is also known as a business loan or merchant cash advance.
A company uses short-term finance to assist their operational costs and capital expenses.
A business at its initial stage requires capital to utilize its growth opportunities. Commercial loan services are helpful options to meet these requirements.
Commercial Loan Eligibility
Age – 21-65
Minimum turnover – Varies among institutions
Business tenure – Minimum 5 years in profit
Any private or public limited company, sole proprietor, partnership firm, and limited liability partnership firm meeting the above criteria are eligible for different commercial loan services.
The documents they need to submit include the following:-
- ID proofs such as passport, driving license
- Address proofs like passport, telephone/electricity bill
- Business proofs such as bank statements, business vintage proofs, profit and loss statements, income tax returns, balance sheets, partnership agreements/sole proprietorship statement
Processing Fees
Commercial loan processing fees and charges also vary according to loan firms. The charges generally include an amortization fee, contingency fee, check to swap and check bouncing fee, pre-payment, and late-payment fee, and stamp duty. The total amount, however, is subject to the lender’s policy.
Commercial Loan Rates
Commercial loan rates change from time to time depending on several factors. Interest rates are also fixed based on risk assessment. The final interest rate involves various terms and conditions of the lending firm regarding profits, turnover, cash flow, collateral, etc.
What are Commercial Loan Truerate Services?
The business lending sector is quite familiar with the name Truerate now. The US-based commercial lender and real estate consulting firm started operating in 2020 only. Still, it has emerged as a leading establishment in funding projects and clients in real estate investment.
Commercial loan Truerate services are expanding rapidly worldwide as a user-friendly platform for streamlining and expediting the clientele’s debt repayment process.
The platform performs the hazardous task of analyzing your business objectives and profile to find potential lenders for you.
What Services does Truerate Provide?
Commercial loan Truerate services range from loan advisory services to commercial mortgage Truerate services.
Equity Placement
Equity placement often allows lenders to offer capital to businesses without taking risks. The lender purchases equity in the borrower’s business instead of giving him money and earns from the profits. This is one of the most effective arrangements for the borrower to get funding for his business without increasing debt burdens.
Investment Sales
Commercial real estate owners have the scope to profit from ups and downs in the market. They benefit largely as they know the true market value of the assets and the actual market conditions.
Debt Financing
Debt financing is an essential part of Commercial loan Truerate services. Truerate’s role here is to provide the business funding and serve as a broker to connect the investors with the enterprises which require funds.
Commercial Mortgage Truerate Services
Commercial mortgage Truerate services are included in the services offered by Truerate. Business owners may take this service when they require money to purchase commercial land or asset. They can take the loan with cheaper interest rates for a mortgage term of 3-5 years. The lender will verify assets and income before approving the loan. There are two types of primary interest rates, fixed and variable.
Advisory Service for Commercial Loans
The users can get help in obtaining bank loans or loans from other organizations for real estate deals. It quickly identifies the best loan deal.
Advisory Service for Capital Market
Truerate offers guidance to users regarding short-term and long-term investments in securities like stocks and debt instruments.
Asset-based Lending
It is another arrangement to allow businesses to leverage their assets to receive financing. This is a process of lending against your existing assets.
Transaction Types
Refinance loans
Mezzanine financing
Bridge loans or swing loans
FHA/ UHD loans
Acquisition financing or seller financing
Fannie Mae loans
Commercial Mortgage-Backed Securities or CMBS loans
Freddie Mac loans
Property Types
Office loans
Hotel loans
Industrial loans
Multifamily loans
The Exceptional Benefits of Truerate
Commercial Loan Rates
It offers lower interest rates than other unsecured lenders. The additional fees are integrated into the interest rates of Commercial loan Truerate services, and it has no hidden costs.
Saves Time and Energy
You can save time and energy if you choose Truerate to lend you capital to improve your business. You will waste your time and energy looking for the most reliable lender but won’t get it quickly. Truerate’s service includes a reasonable and trustworthy deal for you so that you can utilize your efforts to find a lender and expand your business.
Terms and Conditions
Interest rate is not the sole considerable factor when choosing commercial loan services. You have to ensure whether the company’s terms and conditions suit you.
Serving your Needs
You will always need a lending service that functions according to your company’s profile, financial goals, history, and other factors.
Why is it in the News?
Truerate has hit the headlines to arrange a Refinance for Florida’s Reunion Resort for 42 million USD. The proprietors derived the funding from a New York-based unnamed financial organization.
The Bottom Line
Commercial loan Truerate services should be your first option when you have a commercial property. Claim or security interest on the property is an option in case of non-repayment. Thus, it is beneficial for both the borrower and the lender.
