commercial-mortgage

Vocabulary Word

Definition

A 'commercial mortgage' is a loan made by a bank or other lender to a business. This money is typically used to buy a building or land for commercial use, like an office building or retail center.

Examples in Different Contexts

In real estate, a 'commercial mortgage' is used to purchase or refinance commercial property. A real estate agent might advise, 'A commercial mortgage can provide the funding you need to acquire that office building.'

Practice Scenarios

Entrepreneurship

Scenario:

The success of our first store suggests that expansion into new locations could be highly profitable. Consider our options accordingly.

Response:

I'll explore the possibility of a commercial mortgage to fund our retail expansion.

Banking

Scenario:

Our bank is introducing new financial products. A competitive edge in our offerings is crucial.

Response:

Introducing a competitive commercial mortgage plan could give us an edge in the market.