Now, there’s a better way to refinance your commercial loans

Cover capital expenditures with a flexible commercial loan refinance solution

sba loans

Let's Get Started

Table of Contents

    Even on the brink of emergencies, you can keep the money flowing.

    Players in the commercial real estate sector took a huge blow when crises like the COVID-19 pandemic took place. In an attempt to curb the spread of the virus, small businesses that occupied leased offices sent their employees home–leaving many buildings deserted. Not to mention, many tenants failed to pay their rent because their businesses have been impacted too.

    With your tenants’ inability to pay their monthly obligations, you also fail to maintain a healthy cash flow. If you recently took out a loan to purchase a new commercial property in a prime location, you might have a hard time paying it off. This is where business term loans will come in handy.

    Business term loans will help you pay for ceiling-high costs for upfront expenditures, regular maintenance, repair and refurbishing, regulatory compliance, or any recurring operational costs. When you refinance commercial loans, you can keep your cash flowing even during the most difficult times.

    Ready to apply for a Commercial Business Loan?

    How will you benefit from a commercial loan refinance?

    Every commercial investment property you own is rife with growth. But sometimes, doing an expansion to offer more spaces for leasing or purchasing a new building in a different state can be costly.

    With a commercial mortgage refinance, you not only get enough capital for new construction materials, labor, or operational expenses. You also gain leverage in refinancing maturing commercial loans. A commercial loan refinance strategy will help you stay on top of your obligations without affecting your credit score as well as your business’ cash flow. You also give yourself enough financial backup to support your business’ growth.

    Whether it’s for paying debts, anticipating upcoming bills, paying for labor or planning renovations, a commercial loan refinance program will help you tap a short-term source of funds so you can achieve your long-term goals.

    Here’s how you can build your business’ foundation with a business term loan

    Consolidate debts

    Struggling to pay old loans? Take out a new longer-term loan with lower monthly payments so you can avoid paying for interests

    Keep up with taxes

    Stay on top of your important bills and documents like compliance permits and tax obligations to avoid penalties

    Pay labor on time

    Be able to pay labor in the soonest possible time to avoid construction delays and staff absences

    Get ready for expansion

    Have more than enough money to pay for an engineer or an architect to bring your vision to life

    Pay for monthly bills

    Pay off utilities, rent, and other expenses that are hurting your credit score. This can also help you maintain healthy cash flow.

    Purchase equipment

    Invest in best-in-class back-office assets such as computers and other industrial-grade equipment necessary for growth

    Ready to apply for a Commercial Business Loan?

    Why get your business term loans with SMB Compass

    Without working capital, it’s almost impossible to acquire a new commercial space, pay-off existing loans or keep operations going. This is what SMB Compass wants to help you with.

    SMB Compass is dedicated to helping you expand and manage your business’ growth through reliable commercial loan refinancing offers. Compared with traditional lending institutions, we provide you with guided funding options so you can choose what your business needs at this moment.

    Our commercial refinance solution through business term loans allow you to borrow capital for most types of business expense purchases, which might have not been affordable. This also gives you the leverage to cover every day working expenses, growth opportunities, pay for expensive top-of-the-line equipment, and ease the burden of previous commercial loans.

    Use the funds for all types of requirements—may it be to refinance commercial real estate loans or commercial cash-outs, you can conveniently partner with SMB Compass to achieve long-term goals.

    The best part is, we offer competitive rates so you no longer have to worry about ceiling-high charges that come with commercial refinance.

    Ready to apply for a Commercial Business Loan?

    Our core strategy

    We go beyond loans. We make sure you’re headed towards sustainable growth

    1. Focused brainstorming session

    We want to understand you–your goals, your capabilities, and your plans for the business. We engage in a meeting with you to discuss how you want to scale your business.

    2. In-depth business assessment

    We send a member of our proactive team to assess your business. This will allow us to craft the best financing options that are designed for your growth.

    3. Choose & compare financial solutions

    Based on the results of the assessment, our team will compile the most suitable financial solutions to support your needs–from equipment financing to business lines of credit.

    Ready to apply for a Commercial Business Loan?

    Need to refinance commercial property?

    Check out the various business term loans designed for you

    A business term loan allows you to repay a commercial loan over a period of time specified in the term agreements. Usually, repayment periods for business term loans can range from a few months to as long as ten or more years, depending on the stability and structure of your business, credit strength, and borrowing or expense needs.

    The specific details for business term loan rates will vary from lender to lender, and there are a number of factors that can influence the rates. Typically, most lenders can offer rates for business term loans ranging from 5.25% to as high as 20% or more.

    SMB Compass offers both fixed rate and variable rate term loan programs, however the rate will vary depending on a number of factors.

    Here are the different types of business term loans:

    SBA Term Loans

    SBA term loans are a specific type of business term loan designed by the Small Business Administration. This type of term loan program was created with the intent to help small business owners find long- or short-term financing–whether it’s for purchasing inventory or equipment, refinancing existing debt, purchasing real estate, or other general working capital needs

    There are different types of SBA term loan programs that are popular among small business owners, which each allow business owners to borrow money for almost any business expense. Depending on the nature of the borrowing business and the type of expense the funds are needed for, there is an SBA program for most types of business expenses.

    SMB Compass will work with you to set competitive terms, rates, limits, and repayment schedules that suit your business’ needs and goals.

    Equipment Term Loans

    Purchasing equipment can have a substantial strain to the business’ cash flow, but the long-term savings that come with using high-quality tools will go a long way in mitigating health and safety risks.

    The equipment you’re using contributes much to the quality of service you provide to customers. Equipment financing provides your business with the funds you need to purchase new equipment or replace them with those that adhere with today’s standards.

    An equipment term loan can be structured as a business equipment loan or an equipment lease program, which can both be used in virtually any and all industries. Whether you are catering directly to consumers or other businesses, an equipment term loan will be vital in obtaining the best equipment that supports your operation.

    Our team of trusted advisors will work closely with you to determine the terms for your loan depending on your personal credit, trade history of the business, the financial strength of the company, and the type of equipment you are planning to purchase.

    Asset-based Term Loans

    Asset-based term loans use collateral as the emphasis when considering financing business expenses. The terms and conditions for asset-based term loan programs will depend on the type of collateral that the borrowing business has to put up.

    Some examples of different types of collateral that lenders will typically consider for asset-based term loan programs are: accounts receivable or invoices, inventory, equipment, real estate, intellectual property, or marketable securities.

    Asset-based term loans are generally most appropriate for business to business (B2B) industries, because these types of companies have significantly more collateral types than most business to consumer (B2C) companies.

    For example, manufacturers often have large, valuable pieces of equipment and machinery that hold their value. Also, these types of companies have accounts receivables, inventory, and other types of materials, whereas a restaurant might only have furniture, fixtures, and equipment to offer as collateral.

    Small Business Bridge Loans

    A small business bridge loan is a specific type of business term loan that is designed to meet your immediate financing needs. Some examples of these types of expenses might be covering unexpected circumstances that require funding, bridging cash flow gaps, or taking advantage of new business growth opportunities to capitalize on.

    Instead of a business owner relying on using their own personal money, or even worse, passing up on opportunities that might result in additional profit, business owners should consider applying for business bridge loans.

    With small business bridge loans, the repayment periods are usually short, and payments can be made on a weekly, bi monthly, or monthly basis. In some cases, business bridge loans can be fully amortizing and in other cases the loan is structured as interest only.

    Ready to apply for a Commercial Business Loan?

    Standard documents you need prepared to apply for a commercial business loan

    • Business Plan
    • Personal History and Financial Statements
    • Projected Business Financial Statements
    • Profit and Loss Statements
    • Business License/Certificate
    • Ownership Documents
    • Personal Resume
    • Business Overview
    • Income Tax Returns

    Ready to apply for a Commercial Business Loan?