Question
Is it hard to get a commercial lease?
Looking to start a business. If we secure a SBA 7(a) loan for $20,000 or so and the rent is $800 a month. The business will have start up costs ($5,000 or less) and the regular maintenance will basically be the rent (about 75% of monthly costs). What are the requirements of a commercial lease? I live in Texas.
1 month ago - 2 answers
Best Answer
Chosen by Asker
A commercial landlord wants to see evidence that your business concept is viable. A business plan, financing secured from the bank, your previous work experience that would aid you in this venture. They will probably want to review your personal balance statements, assets and ready capital. Also remember to consider zoning and construction or build-out costs. If everything is sound, you can just about name your own lease terms. I strongly suggest finding a broker to represent you and look for likely spaces.
by gafpromise
1 month ago
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by Fat- 1 month ago