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    0 Replies Latest reply on May 19, 2010 6:49 PM by tonymatt6212

    refinancing commercial property

    tonymatt6212 Newbie
      Does anybody know of a institution that would refinance a commercial building? I have been in business for 13 years and would like to pull out around $ 60,000.00 dollars from my own building. I owe $ 230,000.00 on the building which is 5500 SQ ft. I have two long term tenants in it. I want to pull out the 60 to pay off cc debt and have working capital to bring in new inventories.

      We all know govt programs and big banks are only avail to the wealthy. They could ride out this economy because the small business owner is footing the bill. Sorry for the rant I just had to vent.

      Back to the question, My building is in the center of a downtown business district and one of the largest. The property is at least worth $ 600,000.00. Any help in finding financing options, a lender or Angel would be greatly appreciated.