commercial real estate loan north carolina

Commercial Real Estate Loans in North Carolina – Venus Capital

Commercial real estate loans often help major properties exist. Think of some major commercial real estate properties are the backbone of every successful city, and are essential spaces for every industry. Imagine life without

  • restaurants
  • hotels
  • boutique shops
  • malls
  • resorts
  • hospitals
  • etc

Now imagine all the supporting buildings behinds these like warehouses, industrial buildings, parking lots, multi-family living spaces, storage facilities and more. Life would look different right? These commercial properties aren’t cheap, so commercial real estate loans are a common source of financing for people looking to start up or expand their enterprises.

What Are The Main Sectors In Commercial Real Estate:

Commercial real estate is usually divided into sectors: office, retail, industrial, and multi-family rentals. These spaces require a significant amount of capital compared to residential real estate, and are rarely purchased without some kind of financing. When purchasing a commercial plot or building, you may need to consider more specific classes of real estate as well, such as Class A, B, or C when looking at office properties. Zoning regulations and licensing also play a key role in the different types of commercial real estate. This happens because industrial plants, manufacturing facilities, and others require specialized locations and come with greater restrictions.

The decision to purchase commercial real estate is important and can be both highly profitable and highly complex. Every property is different, and no matter if you’re purchasing a property to flip it, invest in it, or set up shop in it, a loan tailored to your needs is an essential part of the puzzle. If you require a loan for purchasing, upgrading, expanding, renovating, or managing a commercial property, Venus Capital can help. But first, let’s take a look at why a lending firm is a necessary option for receiving financing for a commercial endeavor.

 

Why You Need a Lending Firm Instead of a Bank for N.C Commercial Mortgages

Banks are notorious for their high interest rates and regimented repayment plans. Many investors and business owners don’t even get the chance to complain about those bank loan features since it can be so difficult to qualify for a loan in the first place. Banks are okay lenders, but private firms are better for commercial real estate loans in North Carolina. Let’s dive in a little deeper.

 

Why Banks Can’t Compete with the Best Private Lender for Commercial Loans in Real Estate

The most notable factor that influences a bank’s lack of competitive offerings for commercial real estate loans in North Carolina is the extensive list of regulations they must abide by. Both state and federal regulations control how much a bank can lend, what property types they can cover, and what the terms of the agreement should look like. Banks are also responsible to agencies like the Department of Housing and Urban Development. Complying with all these rules and regulations means the employees themselves have very little say in what they can offer a loan applicant.

Banks also have a more restrictive approval program in place. Banks exclusively use computer or program-based acceptance/denial software to determine whether an applicant qualifies for a loan. This means that there is very little leeway in which type of applicant profile will qualify and which won’t. In essence, you either meet the criteria or you don’t, and if you don’t, there’s little else that can be done for you at a bank.

Thirdly, banks are reliant on financial histories and credit scores when determining an applicant’s eligibility for a commercial real estate loan. These sources of information need to be easily traceable and highly documented. Self employed individuals often struggle a lot more to qualify for loans as a result of this process. Their records are not as regimented and easy to follow as records would be for a large or medium sized corporation.

 

Why Private Lending is Better When Looking for Commercial Financing for Property

Private lenders are the more feasible option for commercial property financing in the majority of cases. The largest benefit they have to offer is their flexibility. Private lenders are still responsible for following state and federal regulations set out for them. However, they have a lot more freedom when it comes to choosing clients and outlining the terms of their agreements with said clients.

It is much easier for a private lender to approve a loan because they have the opportunity to customize a plan for every client. Private lenders decide on their own criteria (credit score, debt to income ratio, etc.) for approval. They can therefore be creative when determining final terms of their agreements with clients and they can accept a wider diversity of applicant profiles.

Another great benefit of private lenders is the human aspect. Everyone has a financial story, and when private lenders meet with a client, that client actually has the opportunity to explain their situation. This allows private lenders to potentially overlook red flags in a client’s background/history that would have otherwise earned them an immediate denial from a different institution. Private lenders are eager to make a loan work, so they are willing to work with their clients and find a solution that meets everyone’s needs.

 

How Venus Capital offers the Best Private Lending for Commercial Real Estate

Every private lending company has different characteristics to offer clients. Strengths and weaknesses are bound to vary quite extensively, and it can be a daunting challenge to find a private lender that offers the right services and qualities you need in a private lender. Venus Capital is the best private lender for commercial real estate for a number of reasons; let’s get into them.

Desirable commercial properties can be sold quite quickly, so it is important that loans can be approved and funds received in a timely manner. Fast turnaround is one of Venus Capital’s leading traits for that reason. They understand the important of each and every property, so will do everything they can to get you your money by the time you need it. Quick closings are a staple of this private lender.

Reliable service is another thing you can count on when dealing with Venus Capital. No matter what stage your loan is at, whether it be application, negotiation, or repayment, you will always be able to get in touch with an employee at Venus Capital if you have questions or wish to discuss your loan. The application process is intuitive, and you can expect to be treated with courtesy, compassion, and integrity. Venus Capital will also limit the amount of paperwork you need to complete and hoops you need to jump through in order to be approved. If you are looking for reliable, professional service, you won’t find any better than what is offered by this private lender.

Venus Capital Requirements On Credit Score:

Venus Capital also has the unique opportunity to be more flexible on credit score rating. While we do prefer a credit score of 680 or higher, we understand that the unexpected can derail this financial marker. So we will be willing to offer you a loan if you have a credit score less than ideal. You’ll just to have an honest discussion with us to secure your eligibility, and we will work with you to get you a loan approval that meets your needs but also protects the lender.

Commercial real estate loans are not cheap, and it can sometimes be difficult to find a lender with enough capital to help you achieve your goals. This is not the case with Venus Capital. They have large dollar amounts to offer clients that will be able to secure any property, whether it is a new one, or a reinvestment in a current property. Loan amounts can be as large as 30 million dollars, and if you need more, the company will often be able to work out an agreement to help.

 

Reviews on Private Lending for Commercial Real Estate from Venus Capital

Check out some of our reviews on our commercial real estate loans in North Carolina:

” Very insightful at entire loan origination process. assured me of all the nuances and finer points and worked for the best deal for me . would recommend him A+++++ ”   – Arjun Arya

 

Why Choose North Carolina for Commercial Real Estate Purchases

North Carolina is an outstanding choice for expanding existing businesses or making a fresh start. With nearly 2 million properties to choose from, there is no doubt that you will find one with the right location, price, and building features that you’ve had on your property bucket list. Whether you’re looking for office space, retail space, or multi-use space, North Carolina has the booming industry to support your search and find you a perfect match. Two of North Carolina’s cities are in the top 5 for best real estate markets in the entire country, and a third city falls in the top 10.

North Carolina has nearly 56,000 office spaces, 72,000 retail spaces, and over 6,000 mixed-use spaces currently for sale. With that inventory, you can be sure that there is a lot of property turnover occurring on a regular basis. This is great for you for two reasons. If you’re looking to acquire a new property to expand your business, you will frequently have new properties turning up; you’ll never have to settle on a property that doesn’t meet all of your requirements. If you are looking to sell your own property to downsize or expand your business, you’ll be able to unload the unwanted property in a timely manner.

 

Here at Venus Capital also have Equipment Lease (Yellow Iron, Agriculture, Restaurant, Medical Equipment) and Working Capital for Retail Stores. We like to partner with our clients and establish a relation and well known in the community to help businesses without the cumbersome delays and red-tape in banks.

Proudly serving all of North Carolina and 40 other states nationwide. See our areas served here.

Call (614) 392-4111 for no obligation, free consultation Today! We are a certified Lending Advisory Firm.