GENERAL GUIDE: For Commercial Loan Borrowers

What do lenders consider when reviewing a commercial loan request today? Borrower/Applicant Borrower must have a good credit rating. A minimum FICO credit score of 680 is typically required. Lower scores may be acceptable on a case-by-case basis and with compensating factors. Borrower must have good liquidity and net worth. Minimum net worth should equal the loan amount. Minimum liquidity …

romeoGENERAL GUIDE: For Commercial Loan Borrowers

BRIDGE LOAN: Definition

A short-term loan that is used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate cash flow. The loans are short-term (up to one year) with relatively high interest rates and are backed by some form of collateral such as real estate …

romeoBRIDGE LOAN: Definition