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Commercial Loan
A commercial mortgage or property loan obtained for the purpose of buying or developing commercial land or commercial real estate investment properties.
Used to aquire or build office buildings, shopping centers, industrial, self-storage, hotels, and apartment buildings. May be used for short or long term goals to finance a company's funding needs primarily for working capital. May be secured by the business or by real estate as collateral.
Interest rates for commercial loans are usually about a point higher than for personal mortgage loans.
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