Looking to secure a commercial loan? Here are the top 5 questions people commonly ask: 1. What is the interest rate? 2. What collateral is required? 3. What is the repayment term? 4. What are the eligibility requirements? 5. What is the loan application process like? When it comes to securing a commercial loan, it's important to do your research and ask the right questions before making any decisions. The first question you should ask is the interest rate. This will give you an idea of how much you'll be paying back in interest over the life of the loan. Next, ask about collateral requirements. Many lenders will require some form of collateral to secure the loan. This could be real estate, equipment, or other assets that the lender can seize if you default on the loan. The repayment term is another important factor to consider. This will determine how long you'll have to pay back the loan and how much you'll need to pay each month. Make sure you understand the repayment schedule and whether there are any penalties for early repayment. Eligibility requirements can vary depending on the lender and the type of loan you're applying for. Make sure you understand the requirements before applying. This could include things like credit score, business revenue, and years in business. Finally, ask about the loan application process. This will give you an idea of what to expect and what documentation you'll need to provide. Make sure you understand the timeline for approval and funding so you can plan accordingly. In conclusion, securing a commercial loan can be a complex process, but asking the right questions and getting all the information you need can help you make an informed decision. Don't be afraid to ask for clarification or to shop around for the best terms and rates. With careful planning and preparation, you can secure the funding you need to grow your business.