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Features of a commercial real estate loan

Nov 11, 2019

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Today there are many profitable tools for supporting small and medium-sized businesses. By purchasing real estate loan, entrepreneurs place offices, warehouses, service locations on its territory, from which they subsequently make a profit, for example, from rental objects. The essence of a business mortgage is to credit the purchase of commercial real estate on its own security. Thus, a Commercial Property Loans can be defined as a loan provided by credit organizations for the purchase of non-residential property in order to use them in the commercial activities.

loan wale

  • Due to the fact that commercial mortgages, unlike consumer ones, are focused on business representatives. An important condition for entrepreneurs to make a profit, banks put forward more rigid requirements for:
  • Loan term;
  • Interest rate;
  • Characteristics of the borrower;
  • The volume of primary documents provided.
  • This type of lending is mainly focused on legal entities, which are commercial organizations and institutions, but many banks are willing to provide a similar mortgage to individual entrepreneurs. Most often, the following requirements are put forward to the borrower, pledger and guarantor (legal entity):
  • The residence of the Russian Federation;
  • The presence of a state share in the authorized capital of not more than 25%;
  • Lack of arrears to government agencies and counterparties.
  • In addition, a legal entity should not be involved in insolvency proceedings and have past due bills.
  • Compliance with these conditions must be confirmed by the package of documents provided. Mandatory: a loan application and a completed application form, as well as the constituent and registration documents of a legal entity or individual entrepreneur. To confirm the favorable condition, enterprises are also asked to provide financial statements.  Some banks are willing to provide a mortgage for a business without a down payment, but with an additional deposit.

The procedure for obtaining a mortgage for business

  • Make a sale contract; make the initial amount, get a guarantee from the bank for the transfer of the remaining money to the seller after registration of the real estate assurance. In this case, a guarantee agreement on the acquired property is concluded between the bank and the buyer of commercial real estate.
  • Pay the initial payment to the seller and get a bank guarantee to receive the rest of the amount after registration of the pledge. In this case, the acquired property is pledged to a credit institution, a change in ownership is registered and a purchase and sale agreement is drawn up.
  • Register a legal thing and obtain commercial property, as well as credit funds from the bank, and use the right to own this legal thing. Further, the buyer repays the loan and draws up the property for himself.
  • Commercial Property Loans Australia without a down payment is a rare occurrence. It may be related in the case of the gaining of real estate of the highest category of liquidity. However, the absence of a down payment requirement indicates that the buyer will need to issue an additional security.

Business mortgage lending programs at various banks

  • Receipt of non-residential premises in the property;
  • Independence from rising rental prices of commercial real estate;
  • Maintaining a high level of company profitability;