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Learn More About the California Commerical Loan

Jun 17, 2008
Trying to acquire a California Commercial Loan is not much different than trying to get a loan in any other state. I'm convinced a lot more people can get one than try. The process of getting a California Commercial Loan is a lot easier once you understand how the basic process works.

First of all, Commercial Lending typically starts at $500,000 to $10,000,000 and up, depending on what is applied for. Banks tend to be very orthodox when it comes to approving loans. Properties covered are usually Apartment Complexes, Rent to Own Condominiums, Warehouses, Strip Malls and Office Buildings and Loans for Construction Projects, such as a Tract Home Development.

Whether you're looking for Tarzana California Commercial Loans or the Coldwell Bank Commercial Loans Division in California a Loan or Financing Options there is a program that will fit your needs.

Before you dive head first into getting that Dream California Commercial Loan you've been waiting for all your life

1.) Different Banks specialize in selling money if you want to call it that to specifc property types. Some banks and lenders will only specialize in Apartment Buildings for example. Others like larger lending institutions might only do Planned Development Projects or larger Office Structures.

2.) For larger loans, your Credit is looked at closely not only for it's financial attributes, but for credibility principles as well.

3.) How is your organization doing. Is it on the verge of economic turmoil, and your depending for that big loan to make your big move again? Or do you own an already booming business? Or is it just pulling in a steady, attainable residual income? The banks balance all these factors.

4.) If you are attempting to get a California Commercial Loan, your unparalleled bet would be to find a Nationwide Lender or a Lender in the State of California. If you're attempting to find a lender from another State to close a loan for you in Cali, you may find yourself fighting an uphill battle.

Listen to these suggestions when trying to find a Lender in California:

1.) Setup a Conversation with the Agent or Broker and ask all your questions up front. The more you know the less chance you have to become unmethodical or information overloaded later. A good Broker will take the time to explain everything to your satisfaction before you move forward.

2.) Don't just settle for what you can get. Always try to arbitrate offer points. A California Commercial Loan Officer will get paid real well for any deal he finalizes, so a good one will try to arbitrate offer points for you to get you the unparalleled deal possible. Of course this depends on cash Up-Front, your Credit Score, Work History, Location, etc..

The bank takes all these factors and has software with complex algorithms built in to calculate a score for you. Everyone varies on how fast loan approvals work but we typically can get any client an answer of Yes or No within 4 hours, and in all cases 1-2 working days.

Finally I cannot emphasize strongly enough to not let the factors above discourage you from attempting. These types of Real Estate deals close every single day, so why not get your fair share of the action. When there is a will there is a way to get your California Commercial Loan. And once you own just one commercial property you are on the way to long term wealth.
About the Author
Let Brian Garvin & Jeff West teach you More about Commercial Real Estate Loans and read our Free Real Estate Articles today. You can always call us for Free Real Estate Advice as we have a lot of resources to help you find what you need, with no obligation.
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