The Operation of a Commercial Loan Commercial loans are applied usually by people, who are into business, and they need money basically for the following reasons, such as: money as working capital, money to expand an existing business or money as a leverage equity in a commercial real estate venture. If you’re into one of these mentioned reasons and it’s your first time to apply for a commercial loan, you should have a different expectation as to how commercial loaning works when compared to a real estate commercial loan. How the lender provides his/her loan terms is a variable operation, but some lenders will go a level higher as to require an evaluation of the applicant’s company worth, including the commercial properties owned, as these are required collateral for a bigger amount of commercial loan; however, in general, most lenders charge high interest rate in commercial loan applications than a home mortgage loan. Before meeting the loan terms, an applicant must do research on the payment schemes of the different banks, since all bank loans require the borrower to pay the commercial loan much earlier than the due date for reasons that the banks include what is termed as a balloon repayment method, which is a procedure for a borrower, who for example applies for a 30-year loan, is required to pay the principal and interest, spread out for the next few years, maybe up to 10 years, and pay the entire balance in one balloon repayment. Following this form of payment arrangement, borrowers, who find it difficult to meet up this requirement, may be compelled to take the option of applying for a re-qualification of their loan or re-financing their loan at the end of the balloon term. In any loan applications, there’s bound to make risks, but in the case of the balloon repayment terms in commercial loans, a borrower must carefully consider all possible risk factors, such as: experiencing a cash-flow problem in the years immediately preceding the balloon term, to which the lender may require a higher interest rate; the possibility of the borrower not to be granted for another loan; the borrower’s properties may be foreclosed for non-payment of the balloon repayment amount. it is also good to consider the commercial loan offers of non-bank lenders who can be less stringent with their requirements, such that some non-bank lenders can provide long-term commercial loans without a balloon repayment but at a higher interest rate than those of the banks.
Why You Should Prefer a Stained Concrete Floor A lot of people have homes and offices with concrete floors may fail to find what to use them for. Many individuals like it when their floors have carpets or tiles. There are lots of pros of having a concrete floor. Many individuals do no find concrete floors captivating. Even if it may seem too dull, using the appropriate stain will make a big change. You can find stains in a variety of shades. If you stain your concrete, you will enjoy many benefits of having a concrete floor. Fast is that they will be durable. Concrete floors are very hard in the making. This means that there are fewer chances of them becoming loose or rotting as other floor coverings tend to do. A concrete floor that has been well stained is resistant to fire and water. Again, they cannot easily fade from the sunlight. The stains concrete walls will maintain their condition unless you try to damage it with a powerful tool. Another advantage you will gain from staining your concrete floor is reducing the level of energy consumption. Any concrete object normally a high level of thermal mass rating. This means that it has the capability of absorbing, storing and releasing heat slowly. If your flow happens to have a covering, you should not let this opportunity pass you. IF you have a stained concrete floor, you will be able to save on your yearly heating bill with a certain percentage. This will depend on the number of concrete floors that you have. The level of maintenance needed by a stained concrete floor is normally very low. For it to have a great appearance, you only need to mop or sweep it. The type of floor coverings that are made using wax need a constant removal and replacement of the wax. This process may take a lot of time. With a concrete stained floor, you only have to buff it once in a while. Buffing a concrete floor is a simple process that would only take less of your time. With stained concrete floors, giving the floor another shiny look won’t be a difficult task.