Another example of Talka’s commitment to the greater Hamilton community is through its’ expanding commercial lending program. We have assisted many members with their business requirements and provided ongoing support alongside with their increasing needs. Other members come to us when they are interested in purchasing property or to refinance their existing mortgages to assist with property renovation and maintenance projects.
Either way, we are here to help your business financing needs through fixed or variable rate term loans or variable rate line of credits. Each loan must be secured by real property and we may lend up to 65% of the property’s appraised value. Commercial lending does carry higher risks than residential mortgages and therefore interest rates are generally higher to compensate. Additional fees may be charged for environment assessments and annual reviews over and above the initial application fee and appraisal costs to determine the value of the property.
Please call Talka at 905-544-7125 extension 151 to discuss your business financing needs. Each deal is unique and must be reviewed before an interest rate can be quoted or approval indicated.