Asset-Backed Commercial Loan
Summary
This asset-backed commercial loan program requires that you pledge some of your assets in order to secure financing.
It is a traditional loan, in that sense. We work to qualify your asset-back commercial loan qualifications and then find appropriate capital partners who will further evaluate the loan-to-value, credit checks, cash flow and other well-known formulas to determine the size and terms of the loan.
Typically, these loans are a minimum size of $100,000.
A key requirement is that the property backing the commercial loan has equity value. In other words, if there is a loan already out on the property and the property is appraised at a value greater than the already existing loan, then the owner has equity in the property. Without this condition, this type of loan is very likely inappropriate and the business owner should look to a cash flow loan.
The basic requirements are:
- Must own property or assets that can be collateralized
- Business or principal must have equity and ability to pledge that property
- Business is based in the U.S.
- FICO > 550
This process will take approximately 2-3 weeks to determine the terms of the loan the business or owner may be eligible for.
If this type of financing appeals to you as a business owner, we encourage you to contact us or just apply now online.
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