Stephen Bush and AEX Commercial Financing Group provide funeral home business loans and business financing for working capital management, business cash advances and commercial mortgage loans throughout the United States.
Among the most difficult small business finance situations for commercial borrowers are specialized commercial properties. Substantial challenges for commercial refinancing and acquisitions are typical for funeral home financing.
Because fewer lenders are currently offering competitive business finance terms, this is a further obstacle for an already difficult funeral home business loan environment. There are fewer regional and local banks offering funeral home loans compared to a few months ago. Unfortunately this difficulty can also be seen with other specialized property financing including golf course mortgages.
When they are willing to provide commercial loans, regional and local banks will probably offer short-term business financing instead of a long-term business loan for funeral home financing. The maximum percentage of value for business financing is a key finance term that can differ from one lender to another. Particularly with business loan terms for length of loan and percentage of value, it is critical for borrowers to avoid unrealistic commercial mortgage terms for funeral home refinancing or acquisition.
There are some serious potential problems found with funeral home mortgage loans that are not usually apparent in other commercial mortgages. When the primary goal is business refinancing for funeral home financing, it is likely to be more complicated than the original business financing for purchase. The commercial real estate loan value is often less than the business value for funeral home business loans. The potential for significantly reduced business financing will often occur because of this disparity which causes many lenders to provide a business loan that includes only the commercial mortgage loan value.
Business owners should be prepared for reasonable business financing fees during the beginning of the business loan process for funeral home financing. There are a number of business lenders that have chosen to take advantage of the shortage of commercial loan choices for building, purchasing and refinancing a funeral home. Commercial borrowers should be aware that charging excessive early fees of $25,000 and higher is a common tactic.
Availability of acceptable lenders has shrunk for this specialized commercial loan category. Prudent choice of a lender will be a prime factor in securing a viable funeral home mortgage. It is important to select a lender with the ability to avoid the commercial mortgage obstacles described and successfully complete the complex business loan process.
The use of a commercial loan expert should be helpful to anticipate potential problems with complex business financing. The use of preliminary business consulting should be helpful in obtaining better terms and avoiding serious problems since funeral home business loans are among the more difficult commercial financing situations that a commercial borrower is likely to encounter.
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