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BDC Mortgage of february 2023

Apply for Mortgage from BDC verified by our specialists. On 08.02.2023 you have access to 1 home loans with a low rate. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 1

Updated
30.12.2022
12:54
Commercial real estate financing
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Term
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Loan term for the financial product

25 years

Get 1% cashback on your mortgage value (Up to $9,250*) mortgage cashback

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Types of mortgage loans

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
BDC Mortgage of february 2023

Types of BDC mortgages

The only mortgage option offered by BDC is commercial real estate financing. Commercial real estate financing from BDC aims to help Canadian business owners buy buildings and land or cover construction or renovation costs. BDC is ready to provide 100% financing to cover real estate expenses for up to 25 years. In addition, you can get the advantage of principal payment postponement for up to 36 months at the start of the loan.

How to apply for a BDC mortgage?

Click the “Apply now” button on the Commercial real estate financing page to apply for commercial real estate financing from BDC. You can also click “Request a business loan” on the “Contact us page”. Then, you will need to answer the quiz questions by providing the following information:

  • How long your business has been in operation
  • The amount you want to borrow
  • Your first name and last name
  • Your email
  • Your business phone number
  • Your job role
  • How did you hear about BDC
  • Information about your business (your company name, business type, industry, company foundation year, number of employees, annual sales, and address)
  • Why do you need financing
  • Information about your project and how will you use the loan 

Requirements

To qualify for commercial real estate financing from BDC, you must be a Canadian resident of at least the age of majority in your province or territory. In addition, your business must be Canadian-based and meet the requirements for the minimum time in operation.

To be eligible for commercial real estate financing as a newcomer to Canada, you must have immigrated to Canada 3 years ago or less. You must be either a permanent resident of Canada or have a protected person status. Your business must have been in operation for 12 months or more and have generated revenue already. When applying, have a viable business plan handy.

Pros and cons

Let’s outline the benefits of commercial real estate financing from BDC:

  • Terms and conditions aren’t subject to change without due cause
  • There is no need to leverage personal assets as security for the loan
  • Early repayment of your loan is penalty-free
  • Principal payment postponement is available for up to 36 months at the start of the loan

The drawbacks are:

  • The lack of mortgage solutions for individuals 
  • The lack of transparency about the rates before applying for a loan
  • The absence of applying for a loan feature in the BDC Mobile app
  • The absence of paying for a loan feature in the BDC Mobile app

How to make a payment?

BDC doesn’t provide information about the available ways to pay for your commercial real estate loan. Upon getting loan approval, you receive the funds directly to your bank account. So, most likely, your loan payments will be in the form of pre-authorized debits from your account.

For additional information on this matter, you can contact BCD by either filling out the contact form on the website or by calling them at 1-877-232-2269.

FAQ

How can I use funds received under commercial real estate financing?

With BDC commercial real estate financing, you can buy a property or land or build a new property for your business.

Can I pay off my commercial real estate loan early?

You can repay your commercial real estate loan (as well as any other BDC loan) in full at any time without prepayment penalties.

Should I use my personal assets as security?

When reviewing loan applications for certain financing solutions, BDC may look at the assets you have to secure your loan. But, you can rest assured that BDC will never ask you to leverage your personal assets as collateral for the loan.