A commercial loan is a type of financing that businesses use to purchase real estate, equipment, or other assets. Commercial loans are typically larger than personal loans and have longer repayment terms. To apply for a commercial loan, businesses will need to provide the lender with a detailed business plan, financial statements, and other documentation.
Commercial loans can be an important source of funding for businesses. They can help businesses to grow and expand, and they can also be used to finance major purchases such as real estate or equipment. Commercial loans are typically secured by collateral, such as the business’s assets or inventory.