A commercial loan in Indiana is much like a residential loan for the same area, but it is used to finance the purchase of a piece of real estate that will be used as a base for a business or investment portfolio.
Commercial real estate types can be confusing. Commercial real estate takes many forms and may include properties such as an apartment building, auto services building, mobile home park, multi-family unit, bed-and-breakfast, campground or RV park, marina, mixed use property, office, restaurant, convenience store, , retail space, self storage compound, warehouse, gas station, health care center, hotel or motel, or light industrial building.
Indianapolis, Fort Wayne, Evansville, South Bend, Gary, Hammond, Bloomington, and other cities in Indiana make excellent places to purchase commercial property. These areas have high populations and often high property values, which can make real estate a valuable asset for your company or portfolio.
A diverse state with a few large urban areas and a number of smaller industrial cities, Indiana is known nationally for its sports teams. Indiana has a long history of auto racing and basketball. The Indy 500 is an annual racing event that takes place during the Memorial Holiday Weekend. Indiana has a basketball tradition unlike any other state in the nation.
A high percentage of Indiana's economy comes from manufacturing. Besides this, Indiana is home to international headquarters of major pharmaceutical companies such as Eli Lilly. The economy in Indiana is considered to be one of the most business-friendly in the U.S., with low business taxes, a conservative business atmosphere, and fairly low union membership.
The capital of Indiana is Indianapolis. Indianapolis has a large number of municipal parks. The flagship Eagle Creek Park is among the largest urban parks in the country. Museums include the Colonel Eli Lilly Civil War Museum, the Indianapolis Motor Speedway, and NCAA Hall of Champions. For anyone who loves sports or enjoys a friendly business climate, Indiana is an excellent place to pursue commercial real estate. Lender411 can help you find the best commercial mortgage rates.