There are numerous options for commercial property financing. Depending on the particular circumstances of your business, one option may be notably more advantageous than others. You could consider of non-bank commercial lending. This is a powerful alternative to traditional bank financing that offers a major benefit – reduced paperwork!
A bank statement program is a non-traditional mortgage solution that allows applicants to skip showing tax returns, pay stubs, W-2s and other employer verification forms. Alternatively, they may easily provide bank statements as proof of income. This is called the bank statement program and can be very handy when providing standard documents is a problem.
Working with a direct lender that offers their own in-house underwriting professionals allows a flexibility that traditional lenders may not be able to offer every applicant. In most cases the closings can happen in as fast as 30 days (45 is average).
A lender like Silver Hill doesn’t require any lender fees. In fact, the only fees most borrowers incur when they submit their inquiry through this website are the standard third-party expenses to be expected in any commercial property transaction. Borrowers are responsible for appraisals, legal and closing costs. This is a perk as most lenders charge an origination fee and a processing fee.
Some borrowers won’t mind providing full documentation when applying for a loan, while other investors will. We’ve highlighted a few types of borrowers/applicants that may be a good fit for a non-bank solution.
If you would like to know more about this type of lending and have a transaction that you would like considered, you should complete the short form and let the lender explain your specific options.