Commercial loans are an excellent solution for small businesses that need to increase their working capital and pay for high operational costs and expenses. A commercial loan can mean the difference between sinking and staying afloat in today’s competitive climate. It’s a quick fix that gives growing businesses a much-needed boost and the necessary funding to stay ahead of the competition.

If you’ve been thinking about getting a commercial loan for your business, you’ve undoubtedly heard about TrueRate. Companies big and small across sectors and industries use commercial loan TrueRate services. They provide everything from real estate to SBA loans and can help you with anything from debt capitalization to investment retailing. However, is TrueRate a good fit for you?

Stay with us as we dive deeper into commercial loans and services by TrueRate. We’ll discuss the many features that make this service a good fit for most businesses and its many advantages compared to similar providers. Here is the beginner’s guide to TrueRate.

What does TrueRate mean?

In short, TrueRate is a platform that helps you find the best lender to finance your business. TrueRate was established in 2020 and has been an industry staple since. It is popular in the real estate space, where it helps millions of clients find investments for their projects. The main benefit of TrueRate is that it simplifies the process, from finding lenders to repaying debt.

If you have any experience with commercial and business loans, you know that locating suitable lenders usually takes a while. Even after you find one, you’re facing weeks of a tedious process for securing your loan. You must complete many steps, including pre-approval, loan application, review of the loan application package, loan committee, term sheet, and closing the documents.

On average, securing a commercial loan takes 60 to 90 days for a small business. You must make yourself available for any additional paperwork and meetings during that time. Not only is it a long and tedious process, but it may also create bottlenecks in your daily operations. To say the least, securing a commercial loan is a distraction that your growing business can’t afford.

That is where TrueRate enters the scene. Finding a commercial loan with TrueRate services saves time, thus allowing you to focus on what matters the most – the future of your business. TrueRate analyzes your business’s financial profile, needs, and credibility and recommends a lender accordingly. That is a significant shortcut that doesn’t skip anything but takes you exactly where you need to go.

What are commercial loan TrueRate services?

TrueRate offers a wide array of services related to securing a commercial loan. It helps companies in various growth phases and caters to businesses from different industries. It helps solve specific needs, too, ranging from business lines of credit to equipment loans.

In any specific case, TrueRate follows a more or less identical route to securing a commercial loan. First, it conducts a thorough analysis of your business. This step coincides with pre-approval as the first step in the traditional commercial loan-securing process. That is where TrueRate evaluates the financial health of your business, estimates the possible cash flow, and determines your credibility.

When you apply for a commercial loan from a bank, the bank reserves the right to reject your application if you don’t meet its eligibility criteria. TruRate doesn’t do that. Instead of shunning you away, it finds you a lender who is suitable for your credit rating and who offers a reasonable interest rate.

In the old days, multiple lenders could have rejected you before you found a suitable one. Securing a commercial loan was incredibly draining and time-consuming because of that. Every time someone turned you down, you had to submit a new application and start the process from scratch.

The fact that TrueRate won’t reject you no matter what makes securing your commercial loan completely stress-free. You’ll be able to save time and stay focused on your business operations yet still get the best possible lender for your needs. TrueRate doesn’t recommend predatory lenders, so you’ll be safe from nasty interest rates and fine print, in addition to receiving your loan faster.

TrueRate can also assist in refinancing your outstanding loan through a process similar to securing a commercial loan. Regardless of what you need, TrueRate will ensure that you achieve your financial goals in the easiest way possible and without wasting valuable time.

Can any business use TrueRate services?

Every company that needs funding can benefit from TrueRate services, and nearly all types of businesses are eligible to use them.

When you’re applying for a commercial loan with TrueRate or elsewhere, your business usually must be at least two to five years old – unless you’re applying for a loan as a startup. In this case, you’ll probably have to provide your long-term income projections.

The only businesses that can’t apply for a loan using TrueRate services are charities, non-governmental organizations (NGOs), and trusts, as they are not eligible for commercial loans.

Some of the documents that you’re going to need to apply for a loan with TrueRate are the business owner’s passport, driving license, voter ID, or another proof of identity, the electricity or telephone bill as a proof of address, and your business’s balance sheet and bank statements. You might also need to provide board resolution, business vintage, and a partnership agreement.

Types of commercial loan TrueRate services

TrueRate services aim to drive business growth and find the best possible solution for your expanding business, no matter how unique your situation is. The only thing you need to do is determine your specific needs. The rest is up to TrueRate services, the most popular of which are:

1. Investment retailing

Whether you are in the business of buying and selling commercial real estate or generating income from leasing commercial properties, your prices and growth potential depend directly on your real estate’s market value. TrueRate can help you estimate it with great precision.

2. Debt capitalization

The total debt-to-capitalization ratio is a key indicator of your company’s solvency. Dept capitalization is crucial for determining your working capital and the amount of money you can invest in expanding your business. High debt must not be ignored, as it is usually a step closer to insolvency.

3. Share investment

Some business owners decide to get funding through investment in shares. If your financial analysis shows that raising funds through the market might be a good solution for your business, TrueRate can help you do it right. Ideally, you’ll find investors who will not demand repayment.

4. Equity placement

Equity placement is an excellent alternative to share investment, as it implies that investors are not reliant on companies to pay them back. That is one of the most popular TrueRate services and a way for your business to tap into a whole new well of financial resources for growth.

Types of loans these services work with

TrueRate services work with different types of business loans. Some of these services can help you with just about any commercial loan, while others specialize exclusively in specific solutions for funding your business. The following types of loans are always in high demand.

Vehicle loans

If your company’s efficiency and overall success depend on high-quality business vehicles, the time will inevitably come when you need more of them.

Whether you need buses, trailers, trucks, or fleet vehicles, TrueRate services can help you find the necessary funding. For most vehicle loans, TrueRate will require you to have at least a two-year-old business and strong business credit.

SBA loans

Small Business Administration, or SBA loans for short, are popular among small businesses that have only started setting up essential operations. Because SBA loans are designed to help startups stand on their feet, they are usually minimal.

TrueRate can connect you with the best SBA lenders for your specific needs, but remember that this type of funding is always minimal.

Equipment loans

Many businesses need equipment loans to support or expand their operations. They provide funding for different types of business equipment, but industrial tools, heavy machinery, and expensive technology are the most common.

TrueRate can assist you in getting the best equipment loan possible, depending on the equipment you need and your business’s ability to repay debt.

Mortgage loans

When you need to buy or develop commercial real estate as part of your business growth plan but don’t have enough capital, you can apply for a mortgage loan. This type of loan can also help you with refinancing a mortgage.

You can get a mortgage loan for different commercial properties, including apartment and office buildings, industrial facilities, and hospitality objects.

Real estate loans

TrueRate services can help you find funding for real estate development as well. Businesses apply for this type of loan when they need to build their property, which they’ll later use to generate profit.

That typically includes shopping malls and other retail spaces, apartment complexes and office buildings, hotels, resorts, and medical facilities such as private hospitals.

Why choose a commercial loan TrueRate service

There are many good reasons to choose TrueRate services when you need a commercial loan. These services make securing a loan much simpler than the traditional process. They can help you find the right lender in the nick of time, which is often precisely what businesses need.

Get proper guidance

Professionals with years of experience in commercial loans provide TrustRate services. Not only will they assist you every step of the way, but they will also impart knowledge and give you their expert advice on how to get the best loan for your needs and utilize its maximum potential.

Save time

One of the most significant benefits of using TrueRate services is that they save you a lot of time. As a business owner, you don’t have the luxury of wasting a month or two on paperwork and other complicated requirements this princess involves. With TrueRate, you get to outsource all of that.

Save money

Ultimately, you’re applying for a commercial loan now to make sure that your business will be able to earn more in the future. Unfortunately, unfavorable loan terms and higher interest rates can hurt your growth and sink your business. TrueRate will never let that happen.

For most businesses, that is the best thing a loan service can offer them – reassurance that a predatory lender won’t rob them. More often than not, commercial loans come with high hidden costs. These extra charges compensate for the lower interest rates dishonest lenders use as bait. With TrueRate, you will only need to pay what you agreed.

Conclusion

If your business is going places, don’t let insufficient capital slow it down. Looking for funding from the wrong sources can cost you a lot of time and money.

Even if you’ve already found a suitable lender, the pre-application process alone can hamper your progress for weeks or even months. In the worst-case scenario, your lender might start charging extra fees you have not signed up for, thus hurting your growth.

That will never happen with TrueRate. As the world’s leading provider of commercial loan services, it can connect you to numerous lenders, help you choose the best one for your needs, and simplify the process every step of the way.

Most importantly, you’ll know the true rate of your loan before you sign anything. In the end, TrueRate is a faster and more reliable way to fund your business growth.