Types of Loans

Mortgage

This is a term loan secured by a building on a piece of land. The maximum amortization period varies greatly between Banks - from 10 to 30 years. Your business must still meet standard lending criteria such as debt serviceability. In general, a business mortgage is more complicated and more expensive than your personal mortgage; many Banks will require you to pay for a full property appraisal, environmental audit, and legal fees in additional to regular Bank fees.

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