Commercial Loans in 2012

It is important to have realistic expectations surrounding commercial loans when you are pursuing a loan request. Lenders are not very aggressive in issuing business loans to risky businesses. Risk can be identified in many ways; however, turn around loans, start up loans, restaurant, retail, and residential construction industries seem to make lenders the most uneasy. Loans to these business types can be issued but they must be very strong.

Lenders also seem to be taking more time in the underwriting on commercial loans. Don’t be too hopeful for a quick turn around from your lender. It is important to give yourself time to shop and prepare for your commercial loan. Don’t expect to get your deal approved yesterday. Most approvals are currently taking 3-6 weeks. Deals that feel rushed seem to receive more push back and scrutiny by the lenders. Giving yourself ample time will go a long ways in a smoother commercial loan process.

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