COMMERCIAL CREDIT
Commercial loan is a type of loan given by banks to
companies operating in commercial activities. It is the credit that businesses
receive for many reasons such as continuing their activities, expanding their
production and sales network and so on.
There are many types of loans. However, the difference from the most well-known personal loan type is that commercial loan is a loan given to real persons in personal loan to businesses. Compared to commercial loans, which require certain collateral when used, no collateral is provided up to a certain amount in personal loans. In addition, the company has to present its financial statements to the banks to prove its ability to repay the loan.
 |
| Wells Fargo |
TYPES OF COMMERCIAL LOAN
Businesses are divided according to factors such as maturity
period and collateral for the commercial loans they obtain in order to continue
their activities. We discuss these types of loans below.
1. Current account with debt: These loans are paid
quarterly. It is a type of loan whose interest rate can change at the end of
the year.
2. Spot loan: In this loan, the payment amount, interest and
maturity remain constant. When the market interest rate changes, the interest
rate of this loan does not change and remains constant. So the risk situation
is low.
3. Open loan: It is a type of loan given to companies that
banks constantly work with, trust and have high credibility. There is no
interest on this loan. It is a type of loan given to companies that are
generally engaged in export and import activities to provide the necessary
financing in these transactions.
COMMERCIAL Mortgage LOANS
In this type of loan, a maturity of up to 10 months can be
provided, starting from at least 5 months. It is a loan generally used when
purchasing fixtures for the company. 25% of the loan is taken in advance and
taken under mortgage. Loan processing begins after the bank has appraised the
property by conducting an expert review to determine its value.
COMMERCIAL MORTGAGE LOANS
It is possible to find banks in almost every country that
gives these loans around the world. While big banks such as AKBANK, YAPI KREDİ,
İŞBANK in Turkey give these loans, financial institutions such as JPMorgan
Chase, Capital One, Bank of America in Europe give these loans.
SBA 7 A LOANS AND SBA 504 LOANS
There are two types of loans for those who want to use
commercial real estate loans. Sba 7 credits and sba 504 credits. These loans
are issued by the small business administration. Sba 7 loans are backed loans
of up to $5 million. Sba 7 loans can be used both for working capital and to
buy commercial real estate. In order to get an Sba 7 loan, it is necessary to
have at least 680 credit points and to deposit 10% of the value of the real
estate to be purchased. Interest rates are between 5% and 8.5%, and 10 and
25-year terms can be applied.
Sba 504 loans; It can be used up to 90% of the commercial
real estate price. The maturity of the Sba 504 loan is up to 20 years and 10
years for hardware purchases. Interest rates are between 3.5% and 5%.
Businesses with a net worth of less than $15 million and an income of less than
$5 million are a type of loan. We have listed the institutions that give this
loan for you below;
1. Wells Fargo; It is a San Francisco-based financial
institution founded by Henry Wells and William G. Fargo, operating since 1852.
2. TD Bank
3. US Bank
4. JPMorgan Chase
إرسال تعليق