Commercial Lender Ontario Canada

[Tyler Veres]

Good Afternoon All,

I am looking to find the best source of commercial financing for my deal that has been agreed to in principal with the seller. 

Essentially breaks down as follows:

Purchase price: approx 275,000

Seller agrees to hold a VTB mortgage in 2nd position for 50% of purchase price for two years.

Therefore, I need financing of 50% LTV from a commercial Lender. I have ok credit, and not a lot of cash to put into deal. Once it gets going, I plan on renovating with my own money for about $20,000. Part of this will re-purpose part of the building, adding another unit. My question is who should I approach? Big 5 banks? Credit unions? I don't want to paper this all over town so I'm trying to nail down the best lender prospects. Thanks in advance.

-Tyler