The number of commercial loans available has expanded over time as there are many more providers in the market today.
Commercial loans are specifically for use when a loan is required and the property being purchased is of a commercial nature or zoned commercial by the council.
Depending on the purpose there are a number of options available ranging from commercial loans for factories or warehouses through to nursing homes, so whatever the purpose there is a commercial loan which we can help you with.
To help highlight some of the options on offer we have tabled these for your reference below so feel free to browse through them or contact us and a consultant will assist you.
Commercial Loans Full Doc
Commercial loans which are full doc simply mean that the applicant is able to provide a full set of financials.
Be being able to provide a full set of financials you are able to access a broader variety of commercial loan options and also access loans which offer greater flexibility in regard to the term of the loan with terms of up to 25 years.
In addition to this there are generally higher lending ratios such as obtaining 80% or more of the purchase price.
In addition to this a full doc commercial loan will also attract a more competitive interest rate as compared to lo doc commercial loans given the lender is able to substantiate income evidence.
What this does is pose a lower risk to the loan provider and therefore they are able to offer more competitive rates and terms as a result.
We have bullet pointed some key documentation needs that commercial loan providers require for a full doc loan:
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A commercial loan provider will ask for 2 years tax returns for both the business and or individual |
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Full doc commercial loan providers will also require you to have a credit history which is free of defaults |
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Stability of employment within an industry is also important to full doc commercial loan providers as is residential stability |
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Commercial loan providers will also need to see evidence of any liabilities held so they can accurately assess your ability to repay the proposed commercial loan |
For more information on full doc commercial loans please contact us and a consultant will assist.
Commercial Loans Lo Doc
In contrast to a full doc commercial loan, lo doc commercial loans do not require evidence of income but rather rely on a self certification of income.
The loan provider then uses this self certified income to assess your ability to repay the proposed debt.
Given the nature of commercial loans and the added credit risk of income which cannot be verified by way of tax returns, there may be some limitations on lo doc commercial loans such as a lower lending limit or reduced loan to valuation ratios for example.
Lo doc commercial loans are a great option for those who are unable to provide evidence of income and are commonly used in today's market as a vehicle to purchase commercial property.
The key difference in documentation requirements is that of signing the income declaration. For more information on lo doc commercial loans just contact us and one of our consultants will help.
What type of property can I purchase with a commercial loan?
Commercial loans come in all shapes and sizes and hence offer you the flexibility of what property type you can purchase.
Commercial loan providers can specialise in the loans they offer therefore each provider will have its own niche products to suit your needs.
We have summarised the commercial loans on offer and specifically the types of security that these loan providers will lend against:
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Commercial factories or warehouses |
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Hotel or Motel (lease hold and free hold) |
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Commercial security zoned as rural |
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Taxi Licenses |
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Aged care facilites (Nursing Homes) |
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Parking spaces or storage facilites |
There are a number of other types of security which commercial loans can cater for so to find out more about which commercial loan may suit your needs best we suggest you contact us and have one of our consultants guide you through the options available.
How can we help you with you Commercial Loan needs?
We can help you with your commercial loan needs by pursuing the most appropriate loan options through over 25 commercial loan providers on our panel of lenders.
Our consultants can help in sourcing the most suitable commercial loan option for your circumstances and structure the loan in such a way that maximises your benefits to achieve your goals.
for any assistance you need with commercial loans.
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