How TrueRate Works
TrueRate is a unique online platform that helps small businesses, and entrepreneurs get the best possible commercial loans. TrueRate offers four different loan types that are perfect for different needs:
1. Short-term cash advance: This is a quick, easy and affordable way to get quick access to money you need to run your business.
2. Small business line of credit: This type of loan can help you finance larger purchases or expansions, giving you the flexibility to grow your business without having to take on unnecessary debt.
3. Commercial real estate: A commercial real estate loan can help you purchase or lease property for use in your business, making it easier to expand your operations.
4. Start-up financing: This type of loan can provide funding for new businesses in their early stages, helping them reach their full potential quickly.
The Four Types of Commercial Loans
There are four primary types of commercial loans: short-term, long-term, revolving and bridge.
Short-term commercial loans are typically for one to three months and are used to finance small expenditures that don’t require a large up-front investment. We can divide them into two categories: fixed-rate and variable-rate. Fixed-rate long-term loans have a set interest rate that won’t change over the life of the loan, while variable-rate long-term loans have an interest rate that can go up or down depending on market conditions.
They used revolving commercial loans when you need to borrow money multiple times over a period of several months or years. The interest rate on these loans is usually adjustable, which means it can go up or down depending on the market conditions at the time you borrow money.
They designed bridge commercial Loans for businesses that need a short-term infusion of cash but don’t want to take on any debt obligations. These types of loans usually have lower interest rates than other types of commercial loans and come with no associated credit risk.
Office space loans: Businesses that need loans for office space
If you’re a small business that needs a loan for office space, there are several options to consider. TrueRate is one of the most popular online lenders and can help you find the right commercial loan for your needs.
TrueRate offers a variety of loans for businesses of all sizes, including:
– Short-term loans for up to three months with low interest rates
– Long-term loans up to five years with competitive interest rates
– Consolidation loans that help you get multiple short-term loans together into one larger loan at lower interest rates
To qualify for a TrueRate loan, you’ll need to provide documentation such as financial statements, tax returns, and business plans. The lender also requires proof of property ownership or lease agreement in order to approve your application. Once you’ve been approved, TrueRate will work with your bank to get your loan processed quickly.
Retail loans is consumer or business loan for commercial
If you’re looking for a quick and easy way to get the money, you need to keep your business afloat, then a commercial loan may be just what you’re looking for. But which one is right for you?
TrueRate can help you figure that out. We offer four different commercial loans: retail operations, small business, medium-sized businesses, and large businesses.
Retail loans are perfect if your business involves selling products to the public. This loan has a limited amount of assets and only $1 million in outstanding liabilities.
Small business loans are perfect for businesses with up to 100 employees and an annual revenue of up to $5 million. These loans are available with a term of up to five years and have a minimum credit score requirement of 600.
Medium-sized businesses have an annual revenue between $10 million and $50 million, and qualify for a loan with terms ranging from three to ten years. Loans have a higher minimum credit score requirement (700) but also come with lower interest rates (6%).
Large businesses have an annual revenue above $50 million, and qualify for a loan with terms ranging from two to ten years. Loans have the highest credit score requirement (800) but also come with the lowest interest rates (4%).
Whatever your business needs–whether it’s funding to keep your doors open or help grow your company–TrueRate can
Industrial area loans: Corporate financing to purchase, renovate, or expand a manufacturing project
TrueRate is a leading online industrial area loans marketplace. We make it easy for businesses of all sizes to find the right loan for their project. And also provide fast and easy financing options. They designed our four types of commercial loans to help businesses purchase, renovate, or expand a manufacturing project:
1) Traditional Commercial Loan need short-term funding to purchase or renovate a manufacturing facility. Interest rates are typically lower than other types of loans. Repayment terms are usually shorter than with other commercial loans.
2) Equipment Finance Loan need to purchase equipment or supplies for their manufacturing project. Interest rates on equipment finance loans are typically higher than traditional commercial loans. The terms are usually longer, allowing you to pay off the loan over a longer time.
3) Manufacturing Facilities Loan is perfect for businesses that want to purchase or expand a manufacturing facility. Interest rates on these loans are typically higher than equipment finance loans. But the terms are shorter, making them more affordable in comparison.
4) Business Expansion Loan has interest rates on these loans are higher than other types of loans. They also have longer repayment periods so you can afford to pay them off over a longer time.
Multi-family rentals: Loans to purchase and maintain multi-family residential properties
The market for multi-family rentals is growing, but it’s difficult to get a loan to purchase or maintain a property. TrueRate offers four different commercial loans for rental properties.
1. Acquisition Loan is used to purchase a rental property. The loan amount is based on the sale price of the property, with a minimum down payment of 5%.
2. Refinance loan is used to refinance an existing mortgage on a rental property. I can customize the interest rate and terms based on your specific needs.
3. Rehabilitation Loan is used to rehabilitate a rental property. I can customize the interest rate and terms based on your specific needs.
4. Long-Term Debt Facility loan is used to finance long-term debt obligations, such as mortgages or construction loans, for rental properties.
Miscellaneous: Types of commercial loans not included in the previous categories
There are many types of commercial loans that aren’t typically included in the categories of consumer loans or mortgage loans. This article will discuss the four main types of commercial loans and how they work.
1. Short-term Loans used to cover small expenses, such as buying inventory or paying for advertising.
2. Bridge Loans: Bridge loans are used to bridging a gap between two periods of financial stability. For example, a company might borrow money to cover its expenses until its next round of funding comes in.
3. A line of credit is an unsecured loan that allows businesses to borrow money against future revenue or profits.
4. A capital lease is a long-term agreement between a business and a leasing company that allows the business to borrow money.