Renting Out Rooms for BusinessDecember 23, 2019
A business owner in St Johns, FL needed a $640,000 loan to buy real estate for his cleaning service business. Calling individual banks for possible pricing was taking way too much time and the prices seemed high.
He was referred to TibBlit.com and we got him a lot of loan options and saved him a lot of time and money.
His top 3 loans were:
- A traditional financing bank offering a 15-year term loan at 4.56% interest locked for up to 15 years. The monthly pymts are estimated to be $3,580.
- Another traditional lender, but offered a 10-year term loan with an interest rate of 4.2% locked for 5 years and relocks again for years 6-10. The estimated monthly pymts are $3,450.
- There was an SBA banker that held a 25-year term loan with an interest rate at 4.65% which is locked for 10 years. Monthly pymts looking to be $3,613.
If you are looking for a fast and easy way to shop for a business loan please give TibBlit.com a try!