Commercial mortgage loans are those taken for commercial purposes i.e. for businesses. In such loans, the business itself is used as collateral for the mortgage. Commercial mortgage loans are a good way to expand the existing business or even to start a new business. Commercial mortgage loans are often used to fund factories, office space, stores and other properties of companies. They can be used for almost any kind of commercial purpose, including purchase of apartments that have five or more than five units.Commercial mortgage loans are almost similar to regular mortgage loans. They are processed much faster and usually take just 10 days for processing. Though it is generally felt that smaller businesses get mortgage loans at lower rates than those compared to larger businesses, this is not true. The rates for all commercial mortgage loans in Florida are the same. However, the loan options may differ depending on the company, its credit rating, its payment options, and other considerations. Commercial mortgage rates may be fixed or variable. Veterans are given priority while providing commercial mortgage loans because of the services they offer to the country.Florida commercial mortgage loan companies take several things into consideration while processing a loan application. These are: the credit history of the company, income sources, past loans or mortgages, value of the property for which the loan is being sought, tax options, size of the property, leasing options for the property etc. By examining these factors, the mortgage lender would be able to offer the best rate possible to the client. There are several kinds of loan options available in the market today, which are being further customized to suit the individual preferences.Finding the best commercial mortgage loan lender in Florida is a challenge with so many companies offering loans at competitive rates and service options. Lenders can vary depending on the size of the loan also as each lender has a minimum and maximum loan size that they deal with. The Internet is a very good source for finding information about these loans and companies. Most of these companies also provide useful information through their web sites. Some sites also have online counseling and advice from qualified counselors.
Business owners work extremely hard to operate, and need protection from unexpected accidents or liabilities, which could otherwise put them out of business. Commercial general liability insurance, or CGL, has been designed to keep business assets and resources protected and secured should a claim arise.OverviewCommercial General Liability (CGL) insurance policies are a very important protection for policyholders, broadly providing defense and indemnity coverage against claims for bodily injury and property damage. CGL policies typically are written on standard policy forms developed by nationwide insurance industry organizations.Significance of Commercial Liability InsuranceOperating a business in a litigious society like we have, greatly increases the chances of a potential claim or lawsuit. It is important for business owners to know they have protection, so they can focus on running their business.A CGL policy takes the responsibility of covering the injury costs for you and your employees, as well as covering your legal defense cost and settlement.The most common coverage items are listed below:Lawsuits
Losses on rental property
Claims against misleading advertisement
Claims against copyright infringementsIf you are wondering how you will determine your coverage needs, it depends upon the nature of your business, its location, and the perceived risk by the business. For example, you need more coverage if you are a building contractor in contrast with the consultant or a web designer. This is because both the businesses have different natures and level of perceived risks.The benefits of a CGL PolicyInsurance companies understand about you and your company. They view the in depth details of your business including quality control, safety standards, and risk management.Bodily injury coverage helps in protecting you or the injured party if caused by your business operations.Personal injury coverage aids in securing you from libel, slander, false arrest and wrongful entry.Advertising injury compensation covers your legal liability for a wide range of offenses owing to the advertising of your business’ services and goods.The importance or requirements of a CGL policy for a business owner can’t be stressed enough. Without any or adequate protection a business owner may face a crippling claim at any time, and this level of uncertainty will make running a business nearly impossible. With the importance of protection adequately understood, insuring an adequate level of level of coverage is the secondary concern. With the help of a qualified agent/broker, business owners can get the coverage and peace of mind to focus on operating.