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Scott W.
  • Investor
  • Cleveland, OH
1
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30
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Who you do you use for commercial loans?

Scott W.
  • Investor
  • Cleveland, OH
Posted

I normally approach banks in my area for commercial loans simply due to having existing contacts.  I came across a site recently (commercialloandirect) and not sure if a gimmick or not, but advertising very low fixed long-term rates, non-recourse loans, etc...  I'm looking primarily at $2M+ loans and it seems the local banks all want recourse on these loans.

Any recommendations for $2M+ loans for commercial office/retail space that have longer fixed terms and are non-recourse?  Credit and income are high (I own and operate businesses outside of the real estate industry) so those are not a concern.  We're buying very cash-flow positive properties at discounts so should meet all requirements that lenders have re: debt-to-cash flow ratios, etc...

Thanks in advance BP community!

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