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Updated almost 9 years ago,
Who you do you use for commercial loans?
I normally approach banks in my area for commercial loans simply due to having existing contacts. I came across a site recently (commercialloandirect) and not sure if a gimmick or not, but advertising very low fixed long-term rates, non-recourse loans, etc... I'm looking primarily at $2M+ loans and it seems the local banks all want recourse on these loans.
Any recommendations for $2M+ loans for commercial office/retail space that have longer fixed terms and are non-recourse? Credit and income are high (I own and operate businesses outside of the real estate industry) so those are not a concern. We're buying very cash-flow positive properties at discounts so should meet all requirements that lenders have re: debt-to-cash flow ratios, etc...
Thanks in advance BP community!