Funding Your Business

Commercial finance is a type of loan that is specifically designed for businesses. It can be used for a variety of purposes, such as purchasing equipment, expanding operations, or refinancing debt. Commercial finance is typically provided by banks, credit unions, and other financial institutions.

There are a number of different types of commercial finance available, each with its own unique terms and conditions. Some of the most common types of commercial finance include:

• Term loans: Term loans are the most common type of commercial finance. They are typically repaid over a period of time, usually between one and five years.
• Lines of credit: Lines of credit are similar to term loans, but they allow businesses to borrow money as needed, up to a certain limit.
• Equipment loans: Equipment loans are specifically designed for businesses that need to purchase equipment. They are typically repaid over a period of time, usually between two and five years.
• Commercial mortgages: Commercial mortgages are used to finance the purchase of commercial property. They are typically repaid over a period of time, usually between 10 and 25 years.

The interest rate on a commercial loan will vary depending on a number of factors, including the type of loan, the amount of money borrowed, and the creditworthiness of the business.

Commercial finance can be a valuable tool for businesses that need to raise capital. However, it is important to carefully consider the terms and conditions of any commercial loan before signing on the dotted line