|
Author: David Miles Article source: http://money-spot.com/. Used with author's permission.
A commercial mortgage or commercial remortgage is a business loan which is secured against a commercial property.
Commercial mortgages are often used to buy business premises, such as offices, shops, restaurants, or pubs.
But they can also be used to buy other business assets such as plant or machinery.
As well as being a useful way of financing the purchase of business premises for a new business, commercial mortgages can also be an excellent way of funding the expansion of an existing business.
A commercial mortgage can also be used to fund investment in land or property which will be used for commercial purposes.
A commercial mortgage can be used to buy most types of commercial buildings, such as shops and offices, for both new and existing businesses.
The interest rates on commercial mortgages tend to be lower than the interest rates on unsecured business loans and the repayment terms are usually longer. This makes them useful for all sorts of business financing requirements.
What About a Remortgage?
If you already have a commercial mortgage on your company's business premises, you might find you could benefit from remortgaging.
A commercial remortgage allows you to unlock some of the equity that is currently tied up in your commercial property. It could also be a chance to switch to a more competitive, cheaper mortgage, especially if your or your company's credit rating and business history have improved since you took out your original commercial mortgage.
The money you free up through a commercial remortgage can be used for all sorts of things for your business. For example, you could purchase additional stock, or invest in new machinery or other fixed assets such as vehicles. Another use for the extra money can be to pay off outstanding bills, or clear other borrowings such as the company's overdraft.
Here are some typical uses for a commercial mortgage or remortgage:
- Borrowing money to buy a shop
- Raising finance to purchase an office building
- Buying a pub
- Financing the purchase of a restaurant
- Buying a hotel
- Buying a house to convert to a Bed & Breakfast (B&B)
- Raising finance to buy an existing business
- Clearing a business overdraft
- Improving business cashflow
- Buying new plant or machinery
- Financing the purchase of company vans and other vehicles
- Borrowing money to buy extra stock for your business
- Funding the expansion or refurbishment of your offices
- Borrowing money to pay for training
- Buying land for business purposes
Further information on commercial mortgages and business loans can be found at the Online Commercial Mortgages website.
Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place. David Miles is the editor of a number of personal finance and business websites including The Cash Clinic and Employee Contracts.
Getting What YOU WANT!
Respect Yourself and Find It Easier to Get WHAT you Want.
Bamboo Flooring for the 21st Century
Bamboo flooring has emerged as a new material for the commercial design marketIt's unique look and earth friendly properties have made it popular for flooring a...
The 2-Word Phrase That Conquers Adversity and Breaks Through Obstacles
Throughout our lives we are often faced with Obstacles or Adversity. All too often however, we let our obstacles become our adversity or our adversity become ou...
SEO #2: On-page Optimization
The second lesson out of 6 that teaches you the most important elements of search engine optimization.
Endless Possibilites With Custom Printed Lanyards
Custom printed lanyards are an extremely popular item and are readily available for purchase through a large amount of suppliers. Many suppliers have detailed ...
How You Feel Affects How You Shop & How Much You Spend
Article points out the downfalls of shopping when your mood is not right. Being upset, angry, or depressed can have drastic consequences on your pocketbook afte...
Cash Advance Check Loans - Are Online Cash Stores More Expensive Than Offline Stores?
Here are some differences between cash advance stores online and offline.
How Do I Begin A Fat Loss Plan?... Let Me Count The Ways!
Most people are unsure about how to begin a fat loss program. They have many questions about food choices, meal composition and exercise. Getting yourself in g...
Soothing Symbols as Home Decor?
Did you know that our bodies can automatically react to certain environmental changes and stimuli, even to symbols you might use as decorative accents? I have a...
Finding Network Marketing Leads
Getting a network marketing lead is not an easy process and involves a lot of work. However you can achieve network marketing success by ...
What The Adsense Top Earners Are Doing To Constantly Increase Their Earnings
What the bigger Adsense earners are doing to earn those crazy monthly checks.
What Do Your Site Statistics Mean, Anyway?
What Do Your Site Statistics Mean, Anyway? The purpose of analyzing your web site statistics is to look for trends and to research the success level of your mar...
How To Survive Your Honeymoon
Romantic Honeymoon Destinations To Discover Each Other!
Once you've mortgaged the rest of your life for the dress and the ceremony, made all sorts of promises ...
Why TV Poker Can Make You Wealthy!
There's an awful lot of poker on the television these days, people love watching other people in real situations and poker is the latest reality TV craze.
Seven Important Lessons for Experts Who Want to Get Published
No one said writing for publication would be easy! The seven lessons in this article will help you to avoid mistakes and expedite your writing career.
A Carousel Of Color
If you remember black and white TV, you are dating yourself. Perhaps even carbon-dating yourself. But I remember sitting in rapt attention when color TV came to...
How To Get Ahead On A Low Income
Do you struggle from week to week trying to make ends meet? Are you consistently going without things that you really wish you could afford? Read on to learn s...
The Boss Didn’t Understand Why His Staff Wasn’t Reading His Mind
Many people believe that everyone sees the world exactly the same way as they do. This is never true and was the source of much turmoil in Dr. Jacob's office. ...
Home Based Business on the Internet
There is such a sense of satisfaction that comes with being self employed and working from the comfort of my own home in Home Based Business. Many say they work...
Web Coach Tip: What You Should Know About DIY Web Sites
Recently, a friend asked "What's the deal with those DIY companies that advertise "How to get a website with everything your business needs for under $20 bucks ...
Eight Steps to Taking Control of Every Situation in Your Life!
Like it or not, we are all gladiators. We go to sleep and wake up in a social arena from which there is no escape. Challenge upon challenge confronts us, walls ...
Ten Amazing Ways To Increase Attraction at a Trade Show
Marketing Master, Catherine Franz, shares with you ten
inexpensive tips and techniques on how you can increase
your visibility at a trade show. Catherine also...
Ultimate Weight loss: Ephedra is it Good or Bad?
Ephedra Based Products are the rant and rave of the weightloss community. Everyones question is: "Is it Safe and is it Legal?"
Can You Afford Not To Look After Your Personal Finances?
Investing is a subject a lot of people don't want to think about. And there is good reason for that. Investing seems scary. It either sounds like something only...
|
Print this page