Financing New Shop

[evergreenco]

I am looking to build a building for a nursery, office and shop. I am going to talk to my banker about a loan. I don't know how much cash I will be required to put up I have heard 20%. How long can you finance a such a loan?
Any of you guys who have done this have any comments?

[Allen's Lawn Care]

As long as you have 2 years of schedule C's.....there should be no problem getting any loan

[mad_wrestler]

Just remember that the bank will be working for you. Let the bank know that you are in the market to have a bank finance your new building. Too many times people rely on one bank only. Visit a few to get a good idea of the best product for you. Also, ask if they have an actual under writer. If they use the FICO then search until you find a competant Under writer. Real Estate investors consider the FICO "Credit Report for Dummies." Oh and one more thing. You don't necessarily have to put up the 20%. Most lenders will say you do but do your research and deal only with Direct Lenders!! to avoid PMI without having to put up 20%. Hope some of this helps.

[mad_wrestler]

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