Private Commercial Mortgages
Private Financing in Canada
You do not have to rule out the purchase of a commercial property because traditional banks and lenders cannot provide private commercial mortgages in the time you need it. Private commercial lenders are available to fill in the gaps when you need financing quickly, or for a venture that traditional lenders are afraid to touch.
Super Brokers has access to a vast network of private lenders to find and secure the commercial financing your opportunity calls for. Private lenders will charge a higher rate and possible fees in lieu of the quick and short-term access to large funds they can afford.
The right funding can make all the difference in the world for your commercial project. Paying more in interest can put a hamper on your business venture, especially at a time where funds are crucial.
Private Commercial Mortgages
Points to Consider:
- Less information required for funds than traditional products are
- Expedited access to the loan amount
- Interest rates can be greater than prime plus eight percent
- Fees can range from one to five percent of the total loan amount
- Geared to short-terms (less than 24 months), usually 90 days
- Used during interim periods or while waiting for longer-term products to be approved
- Used to finance projects traditional lenders deem too risky, such as an independent hotel or restaurant
A Super Brokers commercial mortgage specialist is just a call away. You can discuss questions you may have about private commercial mortgages and your financing needs.
We will aid you in deducing the best method of securing the commercial funds you need. Begin today by completing our secure private mortgage application.