What is a business mortgage loan?

When you need to purchase some type of commercial real estate for your business, you can make the price tag easier to manage with a business mortgage loan, rather than a residential one. A business mortgage loan is a loan for financing the purchase of commercial real estate property, instead of residential property.

Can a small business owner get a mortgage?

Have Patience In some cases, the only solution for a small business owner looking to get approved for a mortgage is patience — especially for borrowers who reported a loss in the previous year. If this sounds like your situation, the best strategy is to wait to apply to allow for your financial situation to improve.

Do you qualify for a business mortgage loan?

Most traditional business mortgage loans are fully amortizing loans. Business mortgage loans from traditional lenders are the best options for borrowers who need long-term financing with no amount limit. Plus, if you qualify, you’ll score interest rates no higher than 7%. What does it take to qualify? Here are the minimum requirements: