One morning, when Gregor Samsa woke from troubled dreams, he found himself transformed in his bed into a horrible vermin.
If you're running a business, it is inevitable that you would need a place to run your business activities. It could be a small shop, an office or a large business complex. Businesspeople cannot afford to spend all their savings on buying commercial space. Thus, they opt for a commercial purchase loan. Professionals like lawyers, doctors, chartered accountants etc. prefer this kind of loan when they think of opening their own practice.
A commercial purchase loan serves two purposes:
1.To avail an office space
2.To open new outlets
There has been an increase in the property rates nationally and it has made it harder for people owning/starting business to buy property from their savings alone or even using business capital. You will also encounter many processing fees and other hidden charges when buying commercial property. So it's better to take a commercial purchase loan at an affordable interest rate.
With a commercial purchase loans, as you are financed by a bank, you don't have to spend all your money on buying property. This way the financial burden on the loan-taker is loosened.
The repayment is usually flexible and you get enough time to repay your loan and in EMIs.