Tag Archives: office
Same Day Loans – Get Rapid Finance within 24 Hours!
It may happen that a person may exhaust his salary in the middle-month when his pay check is still far away. An emergency may arise in such a situation. How would he arrange finance now? Same day loans are a finance facility which would offer him cash advance within a time span of just 24 hours. He can get away from his short-natured urgencies without any difficulty, till his next payday.
Same day cash loans in the financial range of £80 to £1500 whose repayment can be done within simple as well as comfortable duration of 1 to 30 days. One can meet medical emergencies, sudden illness or death, unforeseen household requirements and much more.
Fulfill the below mentioned essential requirements if you want to avail the benefits of this facility. If you meet all these criteria, no one stop you from getting money:
The applicant should earn a fixed month-end income of at least £1000,
He should have attained the mandatory age limit of 18 years,
He should be a permanent resident of UK, and
He should possess a valid bank account which is in nay case 3 months old.
There is no credit check process. A bad creditor with a tag of any of the adverse credit condition like CCJs, IVA, late payments, arrears, payment overdues, insolvency etc can apply for the finance.
No faxing is required.
The borrower can apply for the credit sitting comfortably in his home and office. There is no need for him to stand in the long queues outside the office of the lender and waste his precious time. Just fill one simple application form with the personal details that you have been asked for. As you submit the form, the lender scrutinizes it in the process of verification. After an instant approval, the sanctioned sum is transferred into your bank account as soon as possible.
Summary: Same day loans are a practical choice for a person of the salaried class. Get money that day you need it without excessive paperwork, without asset check and asset-check as well. Apply through the simple online application form, now!
Obtaining an Office Building Commercial Loans
Office buildings are a huge part of the community fabric. They create jobs, promote more business to come into the area and generate revenue for the entire community through their businesses. Office buildings, specifically ones with multiple tenants or very strong credit rated tenants, can be eligible for extremely favorable terms.
Property ownership of an office building can transfer many times over several decades, with new investors coming in and reworking the building, its tenants and its general look. Of course, the investment process for office buildings varies from that of other property types. Office buildings are often driven through the location, management skill and quality of their tenants.
Financing for an office building depends on a number of different considerations that go beyond the ability of the borrower to pay back the loan. Some things that have to be considered are the loan to value and debt coverage ratio. Typically, excluding SBA financing, an office building will need a loan to cover 80-90 percent of the purchase price, with the investor putting a 10-20 percent down payment on the building. Also, the debt coverage ratio should not be less than 1.2, which would require the borrower to generate a net cash flow that is 120 percent of the debt service amount.
Other factors need to be looked at with an office building commercial loan, including how many tenants have come into the building and left in the past ten or so years, and how many tenants are currently in a lease agreement, at that moment. If most of the tenants are in their fourth year of a ten year lease, then it is possible, after looking at rollover and renewal scenarios, that the debt coverage ratio will not be enough for the borrower to pay off.
Location for the office building should be considered, as well as its design and workmanship. Physical factors, such as these, will affect whether businesses move into the area, and into that building. Commercial lenders will look at the market-wide statistics of the building, including whether or not there is a high vacancy rate in the community, economic vitality of the area and the development activity.
For a good quality office building, the typical interest rate varies between 6.5 percent and 7.5 percent over a ten year term with a 25-30 year amortization period. Since office buildings are so dependent on the market, local economy, location and other characteristics, it can be difficult for a borrower to secure a commercial loan in softer markets. If there is a high vacancy in the building, then financing most likely will not be approved. However, on that note, if the building has a good history of constant tenants, and is in a good location, then there is a good chance the loan will be approved by the commercial lender.
Any borrower should have an excellent business plan before approaching a lender. Understanding the market and viability of the area the office building is in will help determine if a loan is approved or not. Be sure to do the research before approaching a lender. Get more information