And the few lenders that made loans required them to be paid off in five years.
However, the lender can require this on a commercial property loan.
Any lender will require that capital be requested for very specific needs.
For example, he said, lenders and title insurance companies almost always require a survey of the property being purchased.
Most lenders will also require the borrower to have full insurance on the vehicle.
In addition, lenders typically require an appraisal and environmental inspection.
Often lenders will require anywhere from two to twelve months of payments in reserve.
Some lenders require evidence of management or business experience, particularly for loans that can be used to start a new business.
Your lender may require you to complete a loan workout package.
Today, most lenders require some form of collateral for bridge loans, usually real property.