What kind of credit does a borrower need in order to qualify for a commercial loan?
A. If you were to deal directly with a bank or other type of financial institution, that institution may have a set requirement for a particular credit score or credit profile that you may be required to have. However, with Zeus Commercial, the credit score is not one of the first considerations in qualifying you for a commercial loan. The first consideration is the property type. The second is the income of the property. The third is your financial net worth and personal cash flow. And finally, the credit score. The credit score isn’t as important as the credit history. Having tax liens, derogatory public records, and recent late payments report on the credit report is a huge detriment in your approval process.
