Shop Commercial Mortgage offers commercial hard money loans in as little as two weeks once we obtain your documentation. We use your equity in a free and clear or very low balance mortgaged commercial property. We charge no upfront or site visit fees; the only fee you may need to pay is from your property appraiser.
Here are the specifics for our commercial loan program:
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LOAN SIZE — $50K TO $10 M
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DOWN PAYMENT — 50% REQUIRED FOR NEW COMMERCIAL PROPERTY PURCHASE
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RATES — 9-12% FOR FLORIDA LOANS
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TERMS — 1/3/5/7 YEARS
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LTV — 55% FOR STRAIGHT COMMERCIAL LOANS
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BROKERS — CAN MAKE 1-2 POINTS
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TIMING — COMMITMENT IN 72 HOURS, TYPICALLY FINANCING IN ANOTHER 7 DAYS
What do we need from you for a Florida commercial hard money loan?
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COMPLETED APPLICATION
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PHOTOGRAPHS OF THE PROPERTY
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COPY OF FRANCHISE AGREEMENT IF APPLICABLE
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COPY OF LEASES OR RENTAL AGREEMENTS FOR INCOME-PRODUCING PROPERTIES
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12 MONTHS OF BANK STATEMENTS
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COPY OF A PURCHASE CONTRACT IF A NEW PROPERTY
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COPY OF YOUR ARTICLES OF INCORPORATION IF APPLICABLE
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COPY OF A SURVEY
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IF CASHING OUT, EXPLAIN THE PURPOSE
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PROPERTY TAX INFORMATION
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A SUMMARY OF YOUR CREDIT AND ANY OUTSTANDING LIENS/JUDGMENTS
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BUILDING APPRAISAL
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PRIVATE INVESTORS MUST SHOW YOUR LICENSE
Shop Commercial Mortgage will work hard to make your commercial loan process as painless and efficient as possible. If you have a critical need for fast financing please let us know and we will expedite our underwriting. For more information on our commercial loans in Florida please call or text 813-368-9919.
