I have been watching the leads that are listed from Lender411.co and refuse to access them because I am not interested, nor are any of my funding sources interested in doing a Commercial Mortgage for $25,000 or some small amount like that.

But there are simple alternatives for borrowers who have excellent credit looking to borrow $200,000 or less. Based solely on their personal credit profile, they may qualify for a business signature loan. Even start up businesses qualify for up to $75,000.

The criteria is to first have excellent credit preferably 730 middle credit score or higher. Secondly your debt to usage ratios need to be at 20% or lower. This means if you have $10,000 in credit limits, your outstanding debt should not exceed $2,000. There are other determining factors but these to points make up 75% of the criteria necessary to qualify.

Regarding credit score, many people erroneously believe that they qualify for a loan simply because they have a good credit score. Those programs do not exist anymore and there were only a few to begin with. A minimum credit score means that if you do not meet that criteria you are disqualified. Your FICO alone does not qualify you for any loan or mortgage.

To receive more information and get a free pre-qualification contact me at louisj@fbcfunding.com and stop looking for a commercial mortgage when you just need a signature loan.