Affinity Credit Union Commercial Mortgages: Owner-Occupied Mortgage

Amount:

no fixed amount

Type:

Loan

Description:

The Commercial Mortgages: Owner-Occupied program is designed for property owners when building a space to house their business.

Comments on Funding:

Funding takes the form of a mortgage.

Deadline:

Rolling deadline

Eligibility:

Application Steps:

For details about commercial mortgages, applicants must call Contact Center at 1.866.863.6237.

Documentation Needed:

Applicants must provide:
1. financial statements for the last 3 years;
2. income tax returns for the last 3 years;
3. personal net worth statements for the loan guarantors. If it’s a corporation applying for the loan, its owners will often act as the guarantors;
4. a property appraisal;
5. business projections or a business plan;
6. an environmental and an engineering report if required;
7. a credit check, which will be done by the lender;
8. signed leases or rentals for all properties including rent roll.

Other Things to Note:

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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