One Stop Shop for Your Company’s Financial Needs
Every business enterprise needs cash for a smooth business and expansion of their company. One should seek only for trusted hands to borrow money. Metro Business Solutions & Finance Corp. is the best commercial loan broker in Edison. It is a US-based finance company which provides financial support for businesses by bringing them the best loan offers from the top lending partners.
Commercial loans are basically loans that are used for business purposes. These are issued by a bank or other financial institutions that it lends money at a particular interest or any applicable fee for a specified time.
Types of commercial loans:
According to various requirements, there are different commercial loans.
• COMMERCIAL LOANS (LONG-TERM): These loans are issued for a long period of time ranging from 5 to 10 years and the loan amounts are generally more than $1 million.
• TRADITIONAL TERM LOANS (MEDIUM TERM): These are most common among small businesses which have a payback time ranging from 1-5 years. Loan amounts range between $25,000 to $5 million.
• SHORT-TERM LOANS (3-18 MONTHS): These are issued for shot time-period to provide extra capital during seasonal revenue lulls or to cover low expenses. The loan amount is quite low, about $5,000 to $250,000.
Why do you need Commercial Loans?
Every firm needs funding to expand their business at some point. There are mostly two types of expenses that it is used to cover.
• Operational expenses deal with ongoing costs which a company pays to operate its business activities.
• Capital expenditures are funds that a company uses to upgrade, maintain or require physical assets.
Who can borrow money?
Commercial loans are given by medium-scale to large-scale banks and financial institutions. To avail loans, the borrower needs to be a business owner with a strong credit history, that is, 680 or more personal credit score. That company must be in business for several years with annual revenue of at least $250000. These types of loans always need some collateral to be pledged as a default case against the loan.
Metro Business Solutions & Finance Corp. is the best commercial loan broker in Edison for a reason. They assist their clients through the whole process and the borrowing process is very simple. You can apply for the loan online and they will credit the funds in your account within 48 hours. They maintain full transparency without any hidden charges. The customer’s personal data is secured and is never revealed to investors.