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Updated over 5 years ago,
Getting a loan on a commercial property with your start up
Hey guys,
I have a question. I am looking to start a small business and obtain a commercial property for it at the same time. Due to the nature of the business, I found it extremely difficult to get a SBA loan for it. Instead of a SBA, should I go straight to a commercial mortgage. Even though I have the income, credit and down payment for the property and mortgage, the banker did tell me I would have a tough time getting it since it only has 3 months left with the current tenant. I am not sure if it would be helpful if I just draft a contract between my LLC and Corporation to lease the building?
Or should I just skip the big banks and go with a different lender.