Small Balance Florida Commercial Hard & Private Money Call or TEXT 813.516.5210

Self-Employed Borrowers

One of the biggest concerns banks have today for commercial borrowers is positive cash flow in your business income taxes, your financials. The banks underwriting process and many ratios are examined in the underwriting process such as debt service ration, debt coverage ration, profit ration, & loan to value. 
How much loss a business is depreciating or showing is the number one reason many banks will turn down small balance commercial loans along with less than perfect credit scores.
At Shop Commercial Mortgage, our pool of hundreds of private investors are not looking at your credit, however, they take a more make sense underwriting approach and look at the equity in your property and 24 months of banks statements, even if your business tax returns show a loss.
This huge competitive advantage allows our private investors to tailor make a special loan to the financial needs of our commercial borrower. We don't require expense upfront fees which can cost you up to 2,500 and still be turned down. Assuming you have equity in your commercial real estate in Florida such as mixed-use, multi-family property, hotel, strip center, self-storage, golf course, motel, marina, nursery, retail space, office building. We can help you with loans form 25,000 which nobody in the country is doing on a commercial that low up to 5,000,000.
Equity-based lending, make sense underwriting and 24 months of bank statements along with a clear title and you should be able to cost in 21 days or less. Our private investors really like to see free and clear commercial real estate properties, low mortgage balance, zero balance, or paid off properties.
Even if you show a loss and you are self employed, we realize our borrowers have expenses and their accountants help them to show a loss, where a bank will turn you down. At Shop Commercial Mortgage, we analyze your 24 months of bank statements, visit the property in person, speak to you face to face about your reasons of needing the cash-out. We like doing business the old fashioned way of spending quality time getting to know our borrowers. The banks many times treat you like a number or just another application. Also, banks will require endless amounts of financial paperwork many times you will get discouraged with upfront fees of 2,000 to 5,000 for an appraisal and still might be turned down after 60 to 90 days. Our loan process doesn't require the commercial appraisal many times.  
Our investors have done many loans with a free and clear hotel, motel, apartment complex, restaurant, self-storage and have had no appraisal done, it makes sense. The borrower owns a million dollar piece of property, they are asking for 100,000 against the equity in the property we know they will pay the loan back.
So no matter what the reason is for your commercial loan at a Florida bank being turned down, if you need to take cash out of your Florida commercial real estate, you need to borrow against your apartment building, you need to tap into the equity of your free and clear strip center. Please give us a call and see how our underwriters and private investors will help you through the very simple 21 day loan process versus the 60 to 90 expensive loan process of the banks who don't allow self-employed borrowers to show a loss on their business income taxes.
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"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"

Mikle / Broker


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