Do You Need A Business Loan?

DDA Mortgage • May 9, 2022

So, you want to buy a new piece of equipment or add an employee to the payroll. Maybe you want to consolidate debt or purchase capital assets.


Here are some of the reasons why you may need a business loan.


Get money to grow your business. If you have an idea for growing your business, but don't have enough capital on hand to make it happen, then a small-business loan might be right for you. This is especially true if you don't have any other sources of funding available.


Get money to add employees to the payroll. If your company is growing quickly and needs more workers in order to keep up with demand, then you may be able to use a small business loan to hire new employees that will help you take on more work.


Get money for capital purchases. If you're looking to purchase new equipment or upgrade existing equipment so that it works more efficiently or produces better quality products and services, then a small business loan can help pay for those upgrades and purchases.


Get money to consolidate debt. If your company has accumulated too much debt — such as credit card debt — then it's time to consider consolidating all of those higher interest loans into a commercial loan.


Unfortunately, banks are sometimes unwilling or unable to help small businesses with commercial loans.


Fortunately for you, there are other options for funding your capital needs. DDA mortgage provides commercial financing that works for all sorts of situations and can increase cash flow so your business can thrive.


To learn more about what loans you can get check out our FAQ - What Real Estate Loan Is Best For Small Businesses? Or call us, 727-784-5555, and talk to a commercial loan advisor.


Learn more about Commercial Real Estate.


Start Your Loan with DDA today
Your local Mortgage Broker

Mortgage Broker Largo
See our Reviews

Looking for more details? Listen to our extended podcast! 

Check out our other helpful videos to learn more about credit and residential mortgages.

Asset based lending with no min fico score

By Didier Malagies • January 26, 2026
• 12-Month Bridge Loans with interest-only payments • Cash-Out Refis, Purchase Loans, Second Liens, and Portfolio Loans • Nationwide lending on non-owner occupied residential properties, including condos • No FICO minimum – We welcome credit-challenged borrowers • No income or employment verification • No seasoning required • No appraisal contingencies • We fund mid-foreclosure and past bankruptcy deals • Pure asset-based lending – • Closings in as fast as 3–5 days tune in and learn https://www.ddamortgage.com/blog Didier Malagies NMLS #212566 dda mortgage nmls#324329

Cost of retirement comfort soars, leaving most far short

By Didier Malagies • January 14, 2026
Cost of Retirement comfort soars, leaving most far short

Does your condo association needs funds for a new roof

By Didier Malagies • January 12, 2026
1. HOA / Condo Association Loans (Most Common) These are commercial loans made directly to the association, not individual unit owners. Typical uses Roof replacement Structural repairs Painting, paving, elevators, plumbing Insurance-driven or reserve shortfalls Key features No lien on individual units Repaid through monthly assessments Terms: 5–20 years Fixed or adjustable rates Can be structured as: Fully amortizing loan Interest-only period upfront Line of credit for phased projects Underwriting looks at Number of units Owner-occupancy ratio Delinquency rate Budget, reserves, and assessment history No personal guarantees from owners 2. Special Assessment Financing (Owner-Friendly Option) Instead of asking owners to write large checks upfront: The association levies a special assessment Owners can finance their portion monthly Reduces resistance and default risk Keeps unit owners on predictable payments This is especially helpful in senior-heavy or fixed-income communities. 3. Reserve Replenishment Loans If reserves were drained for an emergency repair: Association borrows to rebuild reserves Keeps the condo compliant with lender and insurance requirements Helps protect unit values and marketability 4. Florida-Specific Reality (Important) Given your frequent focus on Florida condos, this resonates strongly right now: New structural integrity & reserve requirements Insurance-driven roof timelines Older associations facing multi-million-dollar projects Financing often prevents forced unit sales or assessment shock Many boards don’t realize financing is even an option until it’s explained clearly. 5. How to Position the Conversation (What to Say) You can frame it simply: “Rather than a large one-time special assessment, the association can finance the project and spread the cost over time—keeping dues manageable and protecting property values.” That line alone opens the door. 6. What Lenders Will Usually Ask For Current budget and balance sheet Reserve study (if available) Insurance certificates Delinquency report Project scope and contractor estimate Bottom Line Condo associations do not have to self-fund roofs or major repairs anymore. Financing: Preserves cash Reduces owner pushback Helps boards stay compliant Protects resale values Tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329
Show More