Getting a Commercial Equity Line of Credit

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What Is a Commercial Equity Line of Credit?
Types of Property for Your Collateral
Office Retail Warehouse Multi-family Light industrial Mixed-use
Pros and Cons of a Commercial Equity Line of Credit
Pros
Cons
Commercial Equity Line of Credit Uses
To cover gaps in your cash flow when you’re waiting for clients to pay you To pay for a larger inventory order so that you save what you spend per item For payroll, office expenses, office equipment, or remodeling
Who Is a Commercial Equity Line of Credit Good for?
Qualification Factors
Where to Find a Commercial Equity Line of Credit
The Application Process
Name, address, phone number Date business was established Employer identification number or Social Security number Name of all owners and their personal details Gross revenue Details on bank accounts and current loans
Property type Address Current market value Loan balance if you have a mortgage on it
Business and personal tax returns Balance sheet Profit and loss statement Schedule K-1 Personal financial statement
Finding A Commercial Equity Line of Credit
Frequently Asked Questions
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About the Author
Su Guillory is a freelance business writer and expat coach. She’s written several business books and has been published on sites including Forbes, AllBusiness, and SoFi. She writes about business and personal credit, financial strategies, loans, and credit cards.
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