A clearer start
to your next move.

Start with the purpose of the loan

Buying business premises, purchasing a rental investment, refinancing debt and funding construction are different financing needs. Identify the property or business, the approximate amount required and your preferred closing date before comparing products.

Understand what lenders review

A commercial review can consider business cash flow, property income, borrower experience, credit, existing liabilities, valuation and available equity. A strong property alone does not determine approval. Requirements depend on the transaction and selected lender.

Prepare a property and borrower package

Gather your purchase agreement or mortgage statement, business financials, ownership information and available down payment details. For a tenanted building, include the rent roll, leases and operating expenses. Construction projects need a budget, schedule and approval information.

Check the Lethbridge property details

Confirm the intended use and approval requirements before committing to a purchase or redevelopment. The City’s planning resources are a useful starting point; your lawyer and other advisers can help with transaction-specific due diligence.

Compare more than the interest rate

Ask about the term, amortization, repayment structure, fees, guarantees, security, prepayment provisions and conditions before funding. Obtain a written explanation of costs and commitments. The lowest quoted rate may not produce the best fit for your plans.

Allow time for due diligence

Valuation, environmental reports, lender review and legal work may affect the schedule. Avoid relying on a guaranteed turnaround before the lender has reviewed the transaction. Start early and explain any firm conditions or closing dates.