Opening of Ace Hardwood Store. Loan provided by Commercial Loan Direct.
A guideline that suggests the minimum required vacancy and collection loss reserve for the proposed loan. Usually lenders base this guideline on numerous factors including property type, loan amount, proposed loan to value and debt service coverage, and numerous physical, financial and tenancy factors identified in the proposed loan. Vacancy and Collection Loss is the percentage of all units or space that is unoccupied, not rented or from which there is no rental income. On a normalized or pro-forma income statement a projected vacancy rate is used to estimate the vacancy allowance (both physical and economic), which is deducted from potential gross income to derive effective gross income; also, an estimated amount reflecting probable vacancy, non-payment of rent by tenants, and any other income loss. These funds are set aside to cover either expected or unanticipated income losses.
What Clients Say About Us
Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever
- Nirav Patel
If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.
- Vincent Arias
We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them
- Rita Pisarski
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