Commercial Loan Question

[Joshua Davies]

Hi All,

I have a question on a commercial loan for a duplex that I have under contract in TN. My situation unfortunately disqualifies me for a conventional loan at the moment, as I only have 1 year of work history/tax returns in the US.

I was previously employed in the UK, however due to a 1 year gap in employment history (whilst I was going through the immigration process and was legally not allowed to work) my lender has told me they will not be able to complete the loan.

This leads me to commercial loans! Please could anybody tell me if based on my 1 year employment history, would I even qualify for a commercial loan?

As far as I'm aware, commercial lending is primarily based on the financial performance of the property and less on the individual although I would of course personally guarantee the loan.

If anybody has some insight on this topic, it would be greatly appreciated.

Thanks!