We understand your needs well! For any business having a commercial space is essential. At initial stage many businesses face financial problem due to which they couldn’t able to purchase property or acquire any goods easily & left with the ideal option of a loan. Concerning the worries of financial blockage, many banks & NBFC’s offers loan at affordable rates to business owners helping them to achieve their goal at right time. Before we compare whether is opting for Commercial Property Loans is good idea or bad, understanding its features is must to evaluate.
Meaning of Commercial Property Loan?
Commercial Property Loans are used for renovating and purchasing the building, office equipment, hotels, restaurants, malls, grocery stores, etc for business purposes.
Fee and Commercial Property Loans Interest Rate
Many Banks and financial institutions charge the processing fee on Commercial Property Loans starting from 1% to 2% of the loan amount. The Commercial Property Loan interest rate is 10%-15% per annum.
Also Read:-Standup India Scheme UPSC
Eligibility
Self-employed individuals and self-employed professionals like engineers, Doctors, Chartered Accountant, Architect, Lawyer Trader, Contractors, Commission agent are eligible for a commercial property loan.
Advantages
1.Reduce the furnishing Expenses:-
In hotels and restaurants to cafes and salons, every business wants to design and furnish their commercial units as per their needs and requirements. This provides you raw and unfurnished units to holder hence, it reduces your commercial property investment.
2. Easy Management
Usually, big businesses or institutions like Banks, retail outlets, IT companies are rent office spaces & since these entities are highly professional, it becomes easier for a commercial property owner to deal with the holders.
3.Renting potential
If, you have any extra space in your property then you can generate revenue from these.
Get compared from various banks & their rates to get best deal!
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