FAQ - Are Commercial Loans Hard To Get?

Didier Malagies • April 6, 2022

Commercial loans are easy to get if you know this.

It is not hard to get a commercial loan if you have the right credit and financials. Banks will loan money based on your credit score, P&L statement, and other factors that assure them you can cover the monthly expense of paying back the loan. Any business can qualify; however, it does help if you have some sort of track record of business success. The best way to see if you can qualify for a loan is to talk to a lender. Call us today, (727) 784-5555. We will ask you some simple qualifying questions and figure out what type of loan is best for you. It takes about 30 minutes to get started.

How Do I Get A Commercial Loan?


There are many ways to get a commercial loan. Here at DDA Mortgage, we make it easy. You can apply for your loan over the phone (727) 784-5555, or fill out an application on our website. A representative will contact you regarding your application and help determine which program best suits your needs.

What Is A Commercial Loan?


Simply put, a commercial loan is a financial agreement between you and a lender, to borrow money for your business or to invest in real estate. A commercial loan should not be confused with an ordinary personal loan. A personal loan is designed for purchasing goods or services. They can also be used for refinancing debt or consolidating credit card balances, but this tends to be less common. For businesses and real estate investors, a commercial loan can provide the capital required to purchase large assets that would otherwise be out of reach.

What Do Commercial Loans Cover?


A commercial loan is a sum of money lent by a bank or other financial institution to a business for the purpose of covering business expenses. This can include new equipment, payroll increases, real estate, and operating expenses. Commercial loans are best used to kick start a business or help it grow financially as it ages.


Flexible Payment Options.


Commercial loans are not complicated to get, as long as you meet the requirements. There are many options for businesses seeking funding, and longer terms mean that businesses can take advantage of more flexible payments. Terms can range up to 25 years or longer depending on the programs available. Banks and lenders are always revising their programs, giving you the flexibility to repay your loan in the way that works best for your business. Interest rates depend on a variety of factors including credit score, down payment, and loan type. Get in touch with DDA Mortgage today so they can help you determine which commercial mortgage options will work for you.

What loans can I get?


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.

Have A Question?

Use the form below and we will give your our expert answers! Or scroll down for more FAQs and Answers.

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Need working capital for your business?

By DDA Mortgage • July 5, 2022
If you need working capital for your business, you’ve come to the right place. We can get you up to $150,000 in financing in as little as 2 weeks. And unlike traditional banks and other lenders, we are here to help you throughout the process to make sure you get funded. Our program is designed to give businesses like yours access to cash when they need it most. The best part? There is no cash flow analysis, no debt refi, no equipment requirement - just working capital. You can get 30% of your top line, gross revenue from your last tax returns. To qualify for the loan you will need: To be self-employed for 2 years. Have a 680 FICO score or higher. Have a 155 biz score or higher. Access to working capital can help your business in many ways: Working capital loans can help with covering payroll. Some businesses have cash flow problems because they have to pay their employees before they get paid. This can be a problem for startups, especially if the business owner is also an employee. Working capital loans can help you cover payroll and other expenses until you receive payment from clients. Working capital loans can help with buying inventory. The cost of inventory is one of the biggest expenses for most businesses. Working capital loans can help you buy inventory quickly and easily so that you don't have to wait for your customers to pay their bills before they can receive it. Working capital loans can help with rent and building expenses. Rent and building expenses are ongoing costs that must be paid every month regardless of whether or not there have been any sales in that month. Working capital loans help businesses pay these bills on time so that they don't fall behind. There is no obligation to start the lending processes. Just an obligation to yourself to figure out what's best for you. Find out more about how much you can borrow to help you finance your working capital! Complete the form below and one of our advisors will reach out to you. Or, give us a call at (727) 784-5555 and we will be happy to answer all of your questions.
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FAQ - What Commercial Real Estate Loans Are For Small Business?

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Asset based lending with no min fico score

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Does your condo association needs funds for a new roof

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