Business Loan

Business loan is not the same as commercial mortgage and it is not related to a property. To qualify for a business loan, buyers need to provide two year business financial, and prove the business is making money and enough profit to cover monthly payment of loan.  Business loan usually requires 50%+ down payment, and interest rate is usually 1 to 2% higher than commercial mortgage interest rate, due to higher risk for business loan. Most buyers refinance their residential property for money to buy business, not a business loan.