When it comes to buying a business or property, many people prefer to take out a loan rather than save up enough cash to cover the purchase. This is especially true for large, expensive purchases such as purchasing a commercial property.
Commercial loans are usually backed by the bank and not your personal assets, which means you’ll need to secure them from a commercial lender or lender who specializes in lending to businesses.
If you’re planning to get a loan from a commercial lender, then you need to be familiar with the basic elements of a commercial home loan. EFG will help you understand the loan application process, the types of commercial loans available and the costs involved.