C Store Loans---options To Suit Your Needs And Fit Budget
The full form of C store loans is conventional store loans. A great chunk of readers may not be much familiar with such type of loan but the interested borrowers will be happy enough to be inundated with a lot of lending options available to them.
The borrowers can take their picks among the three types of C store loans - conventional, SBA and CMBS loans. The features of each of them have been summed up as follows:
Conventional C store loans:
Conventional loans refer to the financing by banks. Such traditional source of funding dangles the least interest rate as compared to the other sources. It is really a lucrative opportunity for the borrowers who have to bear other inevitable costs to run their businesses. Any substantial reduction in the rate of interest will undeniably lessen their burden to some extent. Such advantage should be welcome in a cordial fashion especially by the aged persons who want to set aside a hefty amount to access a healthy package of the senior living facilities too.
But there is also a downside of borrowing C store loans from the conventional sources. One has to suffer much delay in getting their loans sanctioned due to the official red tape. Such procrastination dampens the enthusiasm of the borrowers and many of them will hardly be willing to come back to the banks for the same purpose. The period of amortization is shorter that varies from 15 to 20 years. The C store loans are granted by the banks for a fixed time period that does not surpass the limit of five years without a few exceptions.
SBA loans:
It is the biggest source of financing in the arena of the C store loans. They also come with the fixed rate of interest for a considerably longer period, say 10 years. While borrowing such loans, make sure that the lending bank has earned the PLP designation so that the amount you borrowed does not have to be underwritten for more than once.
CMBS loans:
This option to access the C store loans has also its own share of interesting story to tell that will be very much appealing to the borrowers. It provides 80% financing and the rate of interest of fixed nature for a prolonged period such as 30 years.
While applying for the C store loans, one major consideration is if there is any availability of gasoline from the subject property. If the answer is 'yes', it is categorized under the gas station purchase loan. Have a full knowledge of the distinction between these three types so that your valuable time and money do not get wasted.
The borrowers can take their picks among the three types of C store loans - conventional, SBA and CMBS loans. The features of each of them have been summed up as follows:
Conventional C store loans:
Conventional loans refer to the financing by banks. Such traditional source of funding dangles the least interest rate as compared to the other sources. It is really a lucrative opportunity for the borrowers who have to bear other inevitable costs to run their businesses. Any substantial reduction in the rate of interest will undeniably lessen their burden to some extent. Such advantage should be welcome in a cordial fashion especially by the aged persons who want to set aside a hefty amount to access a healthy package of the senior living facilities too.
But there is also a downside of borrowing C store loans from the conventional sources. One has to suffer much delay in getting their loans sanctioned due to the official red tape. Such procrastination dampens the enthusiasm of the borrowers and many of them will hardly be willing to come back to the banks for the same purpose. The period of amortization is shorter that varies from 15 to 20 years. The C store loans are granted by the banks for a fixed time period that does not surpass the limit of five years without a few exceptions.
SBA loans:
It is the biggest source of financing in the arena of the C store loans. They also come with the fixed rate of interest for a considerably longer period, say 10 years. While borrowing such loans, make sure that the lending bank has earned the PLP designation so that the amount you borrowed does not have to be underwritten for more than once.
CMBS loans:
This option to access the C store loans has also its own share of interesting story to tell that will be very much appealing to the borrowers. It provides 80% financing and the rate of interest of fixed nature for a prolonged period such as 30 years.
While applying for the C store loans, one major consideration is if there is any availability of gasoline from the subject property. If the answer is 'yes', it is categorized under the gas station purchase loan. Have a full knowledge of the distinction between these three types so that your valuable time and money do not get wasted.