Assess Your Financial Health:
Review your credit score and business financial statements. Lenders favor a solid credit history and robust financial standing.Understand Commercial Loan Types:
Commercial loans differ in nature and purpose:- Traditional Commercial Loans: Typically offered by banks, they might have the best commercial property loan rates.
- SBA 504 Loans: These loans are government-backed and tailored for commercial real estate.
- Hard Money Loans: These are high-interest, short-term loans, often facilitated by individual investors.