Margate, FL
Early in this doctor’s career, he encountered a difficult time in his life that hurt his financial credibility and stability. Not only had he declared bankruptcy, he was also going through a divorce and foreclosure. Years later, when he wanted to purchase commercial real estate for his practice, his only available option was a hard money loan. As many know, hard money loans are a last resort and carry high interest rates that can be detrimental to a growing business.
When the doctor came to us, we took a look at the full picture. He had a stable, cash flowing business; adequate liquidity; and had improved his credit to an impressive level. Due to all of these strengths, we were able to refinance his hard money into an amortizing conventional loan at a much lower fixed rate.
The Takeaway: Just because you have a bankruptcy on your record, it doesn’t mean a loan is totally off the table – the details make all the difference. If you’ve been denied from the bank yet have a strong business and decent credit, Commercial Capital Ltd., FL can find a commercial loan for you. Submit your loan details risk-free for a review via our Loan Finder App or give us a call at (888) 959-1648.