Commercial Property Durban

If you are a commercial property owner, or are looking to become one, Then check out Commercial Property Durban. Here you will find information about operating commercial property. You can also find commercial property to rent. Simply follow the links. Get it all at Commercial Property Durban.

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Commercial property loans Durban

Commercial property loans Durban
Commercial property loans Durban

Commercial property loans Durban

Commercial property loans Durban

If you’ve found a property you’d like buy to for your business, the next challenge is to apply for a bond.¬†There are the usual questions that come up when people are applying for a bond and these are all similar each time we would like to look at a few¬†Commercial property loans Durban questions that always come up so that you are better equipped.

Q: What is a commercial property?

A property that is legally zoned (permitted) to have a business conducted from it. Properties that can be financed through a commercial property loan are:

  • Shops, offices or blocks of flats
  • Warehouses, showrooms, factories or similar industrial premises
  • Sectional title complexes (zoned for business purposes) including individual units in these complexes
  • Existing residential properties which are primarily used for business purposes and which have business rights or consent use

Q: How can I prepare before I apply for a loan?

A: The criteria for a loan will depend on who you approach. Do some research – websites are generally a good source – about who you can approach and what they expect from prospective lenders. Have your business plan ready and all the research you have done on the property you intend to buy. A lender will want you to convince them that this is a good investment, so compile the documents to this effect

Q: Can I approach any bank for a loan?

A: Finding someone to back you is not as difficult as it used to be. You have to go to a bank or a financier that deals with commercial property. There are also various private and government-supported funds geared towards SMEs that may give you a loan. Have a look at our Finding Financing category for the names of organisations to approach.

Q: Do I need a deposit?

A: No matter who you are asking for money, your loan will have to meet with certain requirements. Most lending institutions will expect you to have a certain percentage of the loan to put down as a deposit. The exact requirements will depend on who you approach, how they work and on the viability of your property purchase.

For more on commercial property read: Commercial Property for Sale

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