It is only natural for every type of loan to work differently than others or, at least, cover different expenses and projects for what you will usually use the funds. Finally, they are not for the same type of people and entities. C&I loans, for example, are only meant for companies, industries, and corporations.
If you qualify as one, you will need these credits at some point to either finance new projects like expansions, starting a new area in your business, or maybe just maintain cash flow and keep the business running. The truth is that not all loans are meant for real estate properties, purchases, renovations, and the usual purposes you read about. Instead, you can use them to just cover your regular debts, expenses, and payments.
However, to be able to do this you have to choose the right type of loan that covers specific needs and can finance for what you will use the funds. In the case of companies trying to maintain cash flow, general commercial loans will not offer the funds for this, and instead, resorting to C&I loans is a better option. These credit options cover almost every expense and need you can have as a company, industry, or corporation except for premises and buildings since those can be financed with the usual real estate ones or construction credits.
To access them, you can rely on banks as always but loans that are not involved or meant for the real estate industry and investments tend to have higher interest rates and more difficult conditions you might have to accept. Private lending institutions—on the other hand—are able to offer them under almost the same conditions as usual credits or even establish better terms in the short and long run. At Commercial Real Estate Loan Pros of Jacksonville, we are not interested in making it impossible for companies and businesses to access these loans, which is why we ask for fewer requirements—only the essentials—and establish terms and conditions with lower interest rates and depending on the client.
You will be able to access funds and repay them without obstacles or under very unfair conditions. What we want you to keep in mind is that due to the main purposes of these loans—maintaining cash flow and usually financing small and specific projects or acquisitions—the time for repayment is much shorter. Most lenders work with 1 to 2 years for repayment but we take it up to 3 years depending on the sum of money requested and approved.
However, C&I loans are not meant for long-term financing which is crucial to consider before you send an application. Finally, make sure to ask our team at Commercial Real Estate Loan Pros of Jacksonville if you can use it for the specific goal you have in mind. As we mentioned before, we do not limit you with C&I loans, but we also have to know your objectives with it and possible projects since this influences our decision.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.