Whether you own an existing business and are planning on purchasing additional real estate for expansion purposes or are an aspiring entrepreneur that needs start-up capital, getting a traditional commercial loan may be difficult for a number of reasons. Sometimes, the more traditional types of loans may not suit your business or you may not be able to qualify for one. As a result, you may have to consider other alternatives such as specialty loans since there is no single financing option that applies to every type of business out there.
The definition of specialty loans can be pretty ambiguous at times when you compare them to the more traditional forms of lending. It could easily be said that a specialty loan is any type of financing that differs from traditional loans or mortgages. Basically, specialty loans could refer to different types of financing options such as:
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