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What is a commercial real estate loan and how do I qualify for one?
Virtually everyone has at least a glancing familiarity with the residential mortgage process. What is much less well-understood, however, is the process for financing the purchase of a commercial building.
With that in mind, letβs take a closer look at how these loans work and what you need to do to successfully acquire one.
Understanding commercial real estate lending
The Commercial Real Estate Loan (CRE) is a mortgage secured by a lien on a commercial property. Common forms of commercial propertiesβ¦
Bi-State moves on $52M plan to add turnstiles, enhanced security for MetroLink
Scenes from the Business Journal's 2021 40 Under 40 celebration (Photos)
America's Center expansion delays could cost region $15M event
$44M AC Hotel in Central West End sets opening
Harris-Stowe State University snags $2M grant to launch new 'bioinformatics' program
40 Under 40 Hall of Fame 2021: Amelia Bond, St. Louis Community Foundation
40 Under 40 Hall of Fame 2021: Steve Smith, Lawrence Group
40 Under 40 Hall of Fame 2021: Orvin Kimbrough, Midwest BankCentre
Mark Vittert's Reflections: Kindness of strangers
40 Under 40 2021: Get to know this year's winners
Family Business Profile: After 75 years, 3rd-generation Tacony Corp. continues to sew together growth
Nick Tacony started sewing together the history of Tacony Corp. from the basement of his south St. Louis home.Β
In 1946, Tacony invested his life savings in used sewing machines and parts to repair and sell them.Β
βHe was a mechanic by trade, had an eighth-grade education and he really just had a strong entrepreneurial spirit. He loved the idea of families doing business with family,β said Taconyβs granddaughter Kristi Tacony Humes, who is CEO of Tacony Corp.Β
In the 75 years since itsβ¦
40 Under 40 2021: Glenn Wu, Caleres
Last chance to submit your 2022 Best Places to Work nomination
Applying for the Best Places to Work Awards program is a two-part process: First, fill out the nomination form found on our website, and then you'll receive further instructions from our third-party surveyor, Quantum Workplace, on how to proceed with the online, anonymous and confidential employee surveys.
After suspending operations, Venture Cafe plans to hire local staff to restart its weekly events
40 Under 40 2021: Tyler Williams, Cannabis Safety & Quality and Winter Haze Cannabis
Tyler Williams is founder and chief technical officer of Cannabis Safety & Quality (CSQ), a safety-driven firm that helps other companies minimize risk and protect their brands by helping reduce product recalls. CSQ is the first certification program for cannabis safety and quality that is accredited by the American National Standards Institute's National Accreditation Board, according to Williams.