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:
- LOAN SIZE — $50K TO $10 M
- DOWN PAYMENT — 50% REQUIRED FOR NEW COMMERCIAL PROPERTY PURCHASE
- RATES — 9-12% FOR FLORIDA LOANS
- TERMS — 1/3/5/7 YEARS
- LTV — 55% FOR STRAIGHT COMMERCIAL LOANS
- BROKERS — CAN MAKE 1-2 POINTS
- TIMING — COMMITMENT IN 72 HOURS, TYPICALLY FINANCING IN ANOTHER 7 DAYS
What do we need from you for a Florida commercial hard money loan?
- COMPLETED APPLICATION
- PHOTOGRAPHS OF THE PROPERTY
- COPY OF FRANCHISE AGREEMENT IF APPLICABLE
- COPY OF LEASES OR RENTAL AGREEMENTS FOR INCOME-PRODUCING PROPERTIES
- 12 MONTHS OF BANK STATEMENTS
- COPY OF A PURCHASE CONTRACT IF A NEW PROPERTY
- COPY OF YOUR ARTICLES OF INCORPORATION IF APPLICABLE
- COPY OF A SURVEY
- IF CASHING OUT, EXPLAIN THE PURPOSE
- PROPERTY TAX INFORMATION
- A SUMMARY OF YOUR CREDIT AND ANY OUTSTANDING LIENS/JUDGMENTS
- BUILDING APPRAISAL
- 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.