A commercial loan is where money is lent from a financial institution or private lender (such as BRRR Loans) to a business, usually for a predetermined use. They can be taken out for a wide variety of reasons, including business start-ups, the purchase of commercial property, and funding capital expenditures.
These are most usually offered by banks and have rigid regulations as to who is and isn’t eligible. They also require definitive proof of turnover and profit, with the need to submit tax returns and other verification.
A secured loan—also known as a hard money loan—requires collateral. This might be in the form of existing business property or equipment, through a mortgage-like arrangement, liquid funds, or another kind of equity.
Commercial loans can be short, mid, or long-term, depending on the type taken out and what the money is to be used for.
Commercial loans are tailored toward individual business needs. If it’s for the purchase of a property, for example, then this is likely to extend over a longer term. A shorter-term loan might be to finance inventory or perhaps to pay extra staff taken on for seasonal needs.
While it’s common to use physical assets as collateral, we can sometimes use company accounts and liquid assets in the same way. BRRR Loans range of commercial lending is always backed with crystal clear terms and conditions. This makes it simple for your business to easily budget for the whole term of the repayment.
There are many different types of commercial or business loans. Some of the most common examples are:
BRRR commercial loans are the ideal solution to advance a business blueprint, purchase or improve a commercial property, or to take your business idea from the planning stage into the real world. Advantages include:
You certainly can! We love partnering with entrepreneurial people and watching them grow their fledgling idea into a profitable business model.
Absolutely—it’s one of our most popular reasons to lend money commercially.
Yes, we do. We also provide commercial loans within virtually every industry, whether you offer physical products, or are service-related.
To be honest, it’s usually far easier than you think. Because we usually secure such a loan on property or equity, there are no complicated tax returns or turnover proof necessary.
We pride ourselves on having one of the slickest application and approval rates in the business. You can expect the deal to be completed within a 21–35-day timeline.
Our market-leading rates start at 7.99%
Although it might reduce the interest rate if you do, we regularly lend to those with less-than-perfect credit scores. We can even work a deal for those with bad credit. So, get in contact, and let’s discuss the art of the possible.