Finding financing in the Caribbean can be difficult regardless of the project, but commercial financing can certainly be more of a challenge than a residential home. For your mid-size commercial projects, we may have the financing you need either short term (bridge financing), construction funds or longer term until you can establish a longer history of income for the banks. As with all of our loans, equity is key.
Generally our commercial loans are larger loans (over 500k for some of our lenders and over 3M for others), and the interest rates will be a bit higher than traditional bank financing. Time is money for commercial properties however, which make our loans the right call for your business venture in the Caribbean. We can usually close these much quick (and easier) than the banks.
Upfront fees are the nature of the beast when it comes to commercial financing. The underwriting process can be onerous, so expecting a lender to pick up these costs, or to spend a lot of time on your file with no commitment will not happen. It would make our job a lot easier if there were no due diligence fees, but unfortunately that is not possible. Knowing who you can trust is key, which is why working with Carib Capital is so important. We know who lends and doesn’t.
Talk to us today about our commercial financing in the Caribbean. We can help you turn your plan into a reality.