Industrial Loan is a loan to your business or corporation and not to an individual, commercial and industrial loans can be made in order to provide either working capital or to finance major capital expenditures, which is usually short term in nature and is almost always backed with some sort of collateral.
Industrial loans usually charge flexible interest rates that are tied to the bank prime rate or else to the LIBOR. Many borrowers must also file regular financial statements annually. Lenders also usually require proper maintenance of the loan collateral property.
E&E Mortgage Bankers Corp focuses on the larger Industrial, Office and Anchored Retail building (single and multi-tenant) with good occupancy, nice West coastal county locations and strong borrowers. We have similar general underwriting as above (cash-out is fine) and we usually fund in around 45-60 days. We’re also competitive with the Life companies and better than most CMBS rates (specially on the larger transactions), with out all of the hassle of going through the excessive paperwork, legal fees and reports. Furthermore we can offer non-recourse and interest-only payment options on these transactions as well.
On Commercial Loans ($1MM-$25MM+):
Contact us for a complementary assessment of your existing properties or purchases you are considering. In addition, we can offer non-recourse loans and interest-only payments, so a couple more options available to help you win the deals.