Pre-qualify before you apply for your light construction loan. Our free business capital search engine will allow you to see the funding programs and lenders that are available to you and then you choose those you wish to apply for.
Use your financing for things like equipment, supplies and other related materials to a light construction business. A light construction loan is a special purpose loan that provides targeted funding for a light construction company or business.
Types of Light Construction Loans
The interest rates for a light construction loan will vary depending on the terms and conditions of the loan. Light construction loans can be for a short or long-term. Long-term loans, which last several years in length, cover the cost of equipment that depreciates in value over time. This depreciation can be written off by the forestry business as an expense on the books of the light construction company.
Light construction loans are written by private lenders and other loan providers. They are specifically tailored for the needs of a light construction company and designed to meet those costs and expenses. The light construction loan borrower that takes out a light construction loan enters into a loan agreement with the lender. The loan agreement sets forth the terms and conditions of the loan and provides for the length, rate and other requirements for the loan.
The amount that is made available for a forestry loan varies, generally from a few to several thousands of dollars. The repayment terms of these loans are at an interest rate that is a few points higher than the prime lending rate for good borrowers with excellent credit ratings. The amount of the loan will not exceed the value of the equipment, supplies or materials being financed.
Credit is the lifeblood of your business, especially for small or new startup companies. BusinessFinance.com assists entrepreneurs to get started purchasing equipment, building your inventory and expanding your business.
Some important items to know to finance your are:
- How much money do you really need?
- Do you know your exact FICO scores?
- How do you plan to repay the loan?
- Who is going to borrow the money? You personally or another legal entity?
- What assets can you pledge to secure your loan?
Make sure you know you are pre-qualified before you apply.