can i get loan for motel with no down payment or 10% down payment?

0 ⤊

can i get loan for motel with no down payment or 10% down payment?

2007-06-05 18:25:46 · 2 answers · asked by Andy 1 in Business & Finance ➔ Other - Business & Finance

2 answers

Depends on a couple of things:

How much you want to borrow vs. the appraised value of the motel

Your credit history

2007-06-05 18:28:37 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

If you have good credit, yes. 10% down should suffice. If your lucky and have really good credit you can get a no-down loan. However, for commercial real estate a down payment, business plan, and your personal guaranty are required.

2007-06-05 18:28:48 · answer #2 · answered by rmkenterprise 3 · 0⤊ 0⤋