Commercial Construction Financing
Expanding a business involves hiring more workers, adding new services and products, but also having more workplaces and space where you can include all the equipment you need and work without any issues, which is why commercial construction financing should interest you.
Both small and large companies can consider the idea to finance construction projects of their premises, buildings, and offices by using part of their revenue and savings. However, it may not always be the best alternative if you have to keep in mind emergencies, other expenses, and maybe start projects which do not allow you to use loans and credits.
With this in mind, you will notice that relying on lenders and credits is not always a bad idea nor necessary when you do not have enough funds only. Instead, you can use them to finance certain projects you are confident you can afford on your own but the loan gives you more freedom in order to use part of your savings and personal funds for other relevant projects and needs.
Also, you are not forced to pay credits in the stipulated time or if you have 30 years, you do not have to provide payments for that long. Anytime you have enough money and can afford the rest of the payment, you can go for it. Therefore, loans are great to have alternatives in financing and funding while also allowing you to cover other expenses. In the case of commercial constructions, you will find them even more useful since you can afford over 70% of the project without using your finances for it.
If you need to build a commercial property from zero, renovate or remodel an existing one, or maybe expand yours or someone else’s, you can apply for commercial construction financing in order to have funds for all the process. Just make sure to sure the right lenders that do not limit you to certain uses. What does this mean? That certain lending institutions offer commercial construction financing if it involves building an entire property, not renovating or remodeling one. At Commercial Real Estate Loan Pros of Jacksonville, we allow you to request it regardless of the specific purpose as long as it is for commercial construction only.
Many of our clients have reached out to us and applied for commercial construction financing in order to start building new areas and spaces in their premises and properties, not necessarily to buy them. Therefore, you can let us know the main use you will give it and our team is going to adjust your request and the funds we are able to offer based on that.
How to apply for commercial construction financing
When going for us as your lenders, it is as simple as providing your credit score, financial records, annual revenue, collateral, and basic information and documentation. We are not too tight when it comes to requirements and instead, keep them to only a few but most relevant ones to allow companies and businesses—both small and large ones—to apply from any place in Duval County.
That being said, our terms and conditions will not disappoint either since we offer lower interest rates and those are fixed as well, better LTV and LVR, bigger loan size, longer loan term, and more. Commercial Real Estate Loan Pros of Jacksonville offers options where you benefit the most, and this is not an exception for commercial construction financing.
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.