I want to refinance the building so I can pay off debt that I acquired because I rehabed the apartments, and I would like to start my own business in one of the commercial units.
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How do I obtan commercial financing for a multi unit building I already own.?
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4 Responses to “How do I obtan commercial financing for a multi unit building I already own.?”
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I am a Loan Specialist in San Diego, Ca. I work with Residential as well as Commercial Lenders. I can give you various quotes instead of the one option you will probably get with a bank. No worries & no obligation, I'll keep searching for a quote until you are happy!
If you would like more information feel free to contact me.
-Linda Munoz
Loan Specialist
Valley Financial Inc.
http://www.lindamunoz.net
Go into a commercial bank and apply for a loan. I would suggest one that is familiar with you and your operations. A good banker should be able to either sign you up for an SBA loan, coventional loan, or a government loan for urban renewal.
Walk into any bank and ask to speak to a commercial lender
Talk to several banks in your area. Also, check your old loan contract; it may forbid refinancing or call for penalties in the event of prepayment…