An industry includes various types of factories, storage houses, workshops etc. and industrial mortgage means to receive loan by pledging this property/ business.  Borrower can receive funding by mortgaging the Industry (varying from larger unit e.g. rubber factory to small industries) to the lender i.e. a bank/ financial institution or an online financer.

The industrial mortgage can be received due to either buying of an industry or for the expansion of existing. The reason can be any, but we may help you by securing cash really fast with our prompt and quick approach.

All you need is few documents to prove your worth that you are the right candidate for this loan.  Generally the lender will ask for the earning records of the business of last two years in case you are receiving mortgage for the expansion of the existing business. but if you want to receive the industrial mortgage loans to buy a new factory then you will have to show and convince the lender about your future prospects, plans, programs and an idea of implementation of various strategies for the sound functioning of the business to ensure the lender that your business will be self- supporting enough for the repayment of loan. You will also need to provide your experience within that particular business, geographical location of the property to estimate about any environmental risk prevalence in that area, credit history records, your account statements showing sufficient deposits for the down payments, any other debt records. While estimating the amount the lenders may either consider the total amount to be lent on the basis of total value of business or on the basis of the value of property and building depending upon the policies of the lender. The lender calculates this amount by estimating debt service coverage ratio i.e. by assessing the net income from the business. You can also pre approve yourself with the financial institution so that you can look for the property accordingly in your expected budget.

Borrower should not rely on a single lender or a broker and should compare the quotes by filling the simple application form. This way they will get to know whether they qualify the criteria of receiving loan from that particular lender, bank or financial institution. Also they will come to know the amount of loan they will receive and the rate of interest being charged.

Applying with us will benefit you by saving your time, money and energy. As we get back to you faster, we do not work with lenders who are unlikely to provide finance to the borrowers instead we work with lenders who are compatible, concerned and committed for their profession and will provide you with the loan as soon as possible and if they think you are not qualifying their criteria then too they will let you know without wasting your time.

Generally industrial mortgage involves larger risk and is of larger amount than other type of mortgages like residential so the amortization period is smaller for these types of mortgages and rate of interest is higher. It is usually 10- 12 years and the owner/ borrower has to repay the remaining amount, if any, at the end of the term (balloon repayment). But there is always an option of refinancing.  Expenses related to loan other than down payment and interest amount includes legal costs, surveys, application form fee, processing fee and closing costs etc.

So it is advisable to start saving the money today only, if you are thinking to apply for industrial mortgage loans as it will be required to pay to the lender as the down payment. This will also help you qualify the term and conditions of financer as they will look for your credit history as well. So in order to get the best quotes with minimum interest rates and maximum benefits and loan amount, contact us.