Commercial Loans are approved to a variety of business entities, usually to assist with short-term funding needs for operational costs or for the purchase of equipment to facilitate the operating process.
As with most types of loans, the creditworthiness of the applicant will play a major role in the securing of a commercial loan. The business normally must present documentation that proves the stable cash flow of the company, ensuring the lender that the loan can be repaid according to its terms. If approved, the borrower can anticipate to pay a rate of interest that is in keeping with the prime lending rate.
Contact Patriot Home Loans if you have any questions about a applying for a loan!
