Commercial lenders in Massachusetts help business owners get the financing they need for their business location. When they have a commercial loan, Massachusetts business owners can free up their cash flow to spend on other things.

It is definitely easy to find commercial lenders. MA businesses have several to choose from. However, some business owners find it intimidating to apply for a commercial mortgage. Massachusetts lending companies are willing to make this process simpler, leading you through every step of the way.

Some facts about Massachusetts commercial lending:

1. Commercial and residential mortgages are quite different. Commercial loans often have a much shorter term—less than 10 years. At the end of the term, you pay the balance of the loan in one lump sum.

2. If you cannot make the lump sum payment at the end of your term, you may refinance with commercial lenders in Massachusetts.

3. Brokers take a higher risk when dealing with commercial lending. Massachusetts companies must show a business credit score, a business plan, and other relevant financial documents before Massachusetts commercial mortgage providers will approve their mortgage.

Action Steps
The best contacts and resources to help you get it done

Search mortgage associations to find Massachusetts commercial lending providers in your area

It is a great idea to use the databases provided by professional organizations to find your commercial lenders. MA business owners should always make sure that they are working with a qualified professional.

I recommend: The Massachusetts Mortgage Association conveniently lists their members' contact information on their website. You can also search through the National Association of Mortgage Brokers.

Request rates for commercial loans in MA

Always start by comparing the rates of different lenders. It is your responsibility to make sure you get the best deal. You can easily fill out an online form and instantly receive quotes from several lenders.

I recommend: BuyerZone offers free commercial rate quotes from several lenders. Lending Tree is another popular website for searching the rates of commercial loans in MA.

Choose a nationwide or local Massachusetts commercial lender

Do you prefer working with large or small companies? Large lending companies have an efficient process for commercial lending. Massachusetts banks may be small, but they can offer you mortgage programs similar to those offered by larger companies.

I recommend: Commercial Direct is a large nationwide company that specializes in commercial loans. Citizens Bank is a smaller bank located in Massachusetts that offers commercial mortgages up to $500,000.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Some companies do not disclose all applicable fees when they show their mortgage rates. Always review your contract before you sign it to make sure that hidden fees do not surprise you.
• •  Many companies face rejection when they first apply for a commercial mortgage. Massachusetts business owners should take care to fix any problem areas and create a better presentation for the next Massachusetts commercial lending company.