Rates & terms depend entirely on applicant qualifications, the current market, and the type of product.  

The stronger you are in terms of credit, relevant experience, and liquidity, the better your offer can be. 

Regardless of the current rate environment, it's a good idea to focus on cash flow.  Rates rise & fall based on factors controlled by others (the government...).  If you can make a deal cash flow in a high rate environment, the property will perform very well when rates lower and you can refinance into a more affordable deal. 

Typically, we process deals for non owner-occupied investment properties.  There are some programs available for full or partially owner-occupied commercial properties .  No programs are available for owner-occupied residential properties. 

Most commercial and residential asset classes are eligible, such as 1-4 unit residential, 5+ unit multifamily, condos/townhomes, short-term rentals (AirBnB, VRBO, etc.), mobile home & RV parks, commercial, and mixed-use properties. 

Each deal is unique, and so is each applicant.  

Depending on your credentials, cash needed to close can range from $0.00 for cash-out refi's to 30%-35% of the deal value for hard money situations.

The stronger your credentials are, the less expensive it is to secure funding. 

Common factors that affect the overall cost of your loan, cash required to close, and your ability to qualify for financing in general include:

• Personal credit profile
• Recent & relevant experience (within the past 36 months)
• Project equity (documentable cash already spent on the project)
• Applicant liquidity & net worth

Lenders want to know they're approving capable applicants (experience) with good payment histories (credit profile) and the ability to carry the cost of the loan if things go south (liquidity & net worth). 

This depends on what type of product you are interested in, but it's safe to say you'll need to be prepared to submit at least 3 months of your most current bank statements along with business entity documents at a minimum.  

Some programs can be approved based on stated income & credit, some require light documentation, and others require much more. 

Under the real estate umbrella, there are numerous documents that may be required during underwriting depending on the loan type.  Underwriters may request such information as business entity docs, personal financial statements, income taxes, P&L statements, rent rolls, real estate ownership track record, rehab/construction budgets, plans & permits, property operating statements, taxes & insurance, previous closing documents, purchase & sale agreements, leases, comps, general contractor qualifications & portfolio, etc.  

Contact us to speak about what you're trying to accomplish and how you should prepare for the application process. 

All prequalification inquiries are soft credit pulls so your credit is not damaged by the inquiry. 

In some cases, a hard credit inquiry may be required prior to closing. 

Many products are business purpose loans that do not report to your personal credit profile, even though personal credit profiles are evaluated to establish rates & terms and determine credit-worthiness. 

MISSION Financial Resources is not a direct lender.  We have contracts & relationships with dozens of reputable & capable direct private/non-bank lenders and other partners across the country with various different lending appetites & resources.  

Our approach is to evaluate each scenario individually and support clients at a low cost from application to closing by offering exclusive access to funding sources & programs they otherwise wouldn't be able to access.  

By leveraging our vast network of direct lenders, you'll have access to more capital & funding options than any single lending institution can offer.  This network gives us the ability to adapt & furnish options for almost any funding scenario within reason. 

This is determined on a case by case basis.  However, our network runs deep...

There are hundreds of non-bank funding sources within our network, but they don't all like the same types of deals.  There may not be a need to "shop" a deal to multiple lenders if your objectives are clear and the deal isn't complicated. 

AND - the only number that matters here is "1"; the 1 funding source who wants your deal and offers acceptable terms is the one we're after. 

Our approach, especially on more complex deals, is to understand what you're trying to accomplish, obtain preliminary information on your scenario, then shortlist funding sources with an appetite for your deal.  

Some deals are easy to place with regular funding partners.  Others are much more complicated and may require us to review several programs to see which funding source is the right fit. 

We typically work with borrowers in the Eastern & Central time zones but have no geographical limits within the United States.  

Some funding sources will not process loans in certain states or rural areas.  

Unfortunately, some states make it harder than others to conduct business... States with restrictions commonly include California, Arizona, Nevada, Utah, Idaho, Oregon, North & South Dakota, Vermont, Minnesota, Alaska,and Hawaii.  

There are also regional population requirements for some lenders that can make deals in rural areas more difficult to do. 

Absolutely.  If you have money tied up in your Accounts Receivable, a great way to improve your cash flow is Factoring, or Accounts Receivable Financing. 

This is a great product for contractors, subcontractors, suppliers, medical practices, manufacturers, logisitcs companies, or many other business types with slow paying customers or payment terms that negativley impact your cash flow.  

We can also set up quick pay programs for General Contractors for subs who call for checks before you have time to process their invoices...

Maybe!  But there are no guarantees.  

Unlike banks, we can offer programs available for young businesses and less than perfect credit.  

Some of our funding sources will approve deals for entities with as few as 6 months time in business and $10,000/month in revenue. 

Applicants with low credit, low revenue, and few assets will be MUCH harder to qualify than those who are strong in all categories. 

We offer credit program referrals to help those who can't qualify for financing prepare for the future.  

Equipment financing for machinery or technology specific to your industry is usually available. 

Our partners have provided equipment financing to a diverse group of businesses including professional DJs, construction companies, gyms, restaurants and farms.

Here are just a few examples of how you can run and grow your business with equipment financing split into two categories.

Heavy Equipment Financing

• Truck and equipment financing
• Farm equipment financing
• Gym equipment financing
• Construction equipment financing
• Automotive equipment financing
• Drilling equipment financing

Commercial Equipment Financing

• Packaging equipment financing
• Restaurant equipment financing
• Laundry equipment financing
• Car wash equipment financing
• Dental equipment financing
• Medical equipment financing

Equipment financing is right for businesses that have an opportunity to grow through the acquisition of a certain resource or tool. But the question remains: Should you lease or buy your business equipment? The route you choose will determine how you finance the purchase.

Business equipment loans are used to procure equipment you desire to own. This makes sense when you require materials you plan to use for 3 years or more. Durable machines like cash registers, refrigerators or commercial manufacturing tools are great examples of items worthy of an equipment loan.

You should consider leasing business equipment if the item you plan to finance will become outdated quickly, or you’re not in a position to provide a down payment.

When deciding if you should purchase or lease your business equipment, consider the following:

How long will you need the equipment?

What is your business’s current financial situation?

Will the equipment become outdated quickly?

Will you be able to maintain the equipment on your own