Commercial Loans are loans that are designed for businesses specifically. There are many different kinds of commercial loans that businesses can apply for based on their credit profile, the amount of cash they need, and the repayment structure that works for them. These loans are usually meant to fund purchases, cover shortfalls, and finance expansion and acquisitions. Funds can be secured or unsecured.
Unsecured Commercial Loans
Priority Lending has a range of unsecured commercial loan products. These loans are not secured against any collateral, and lenders base any approval or declined on the strength of the applicant’s credit. Terms can range from several months to several years. Repayment can be daily, weekly or monthly. Priority Lending can arrange unsecured commercial loans for most credit profiles, including applicants with challenged credit.
Secured Commercial Loans
Secured commercial loans are based on a business’ provision of collateral to a lender. Collateral for a secured commercial loan can include individually, or any combination of Receivables, Real Estate, or Paid-Off Equipment. Businesses with suitable collateral can easily qualify for millions of dollars, even if their credit is less than perfect. Repayment on these sorts of loans is typically monthly, and spread over a few years.
Priority Lending and Commercial Loans
Priority Lending is the right place to get commercial loans for small and medium businesses. We understand the sudden financing needs a business can have, and provide you the right type of loan offers. With us, you can expect a fast, and stress-free process. You should consider Priority Lending even if you have already tried and failed to get funds for your business from a bank, as we have a range of lending institutions in our portfolio for you.