If you are a commercial property owner, you are probably aware of the expenses it takes to manage your property. You have control over rent and maintenance but not over the amount that is charged annually in property taxes. It can be frustrating if you are strapped for cash but there are options. One of those options is a property tax loan with a lender such as Ovation Lending.
Ovation Lending has some of the most experienced people in the property tax lending industry. We have helped every type of property in every type of situation. Whether you are navigating short-term financial challenges, just inherited a property with back taxes, or exploring cash-flow options, we have a solution for you.
What about a county payment plan?
A county payment plan is a good option to look into. Most counties will offer a payment plan up to 2 years. They may also require up to a 20% down payment. One thing the county will not tell you is if a payment is missed the penalties can retroactively be added back to the bill. Also, the following year’s tax bill must be paid in full before going delinquent. We recommend reading the payment plan agreement in full and carefully before agreeing to move forward.
I have a tax loan with someone else
No problem, we will pay off the accounts with your existing lender and combine both amounts into one loan so that all you have to worry about is a single monthly payment. In most cases, this is a good option because we can finance up to 10 years.
Cash Flow Option
As a commercial property owner, you know that unexpected things happen such as something breaking down. The costs for these items can sometimes be exorbitant and you must use the money you were saving for property taxes to actually fix this break. If you are short on cash flow, a property tax loan is a great option. Ovation offers terms from 24-120 months so that you can find a monthly payment that best fits your financial needs.
Short-Term Financial Recovery Option
We all know deals fall apart sometimes. If you were counting on those funds to pay the property taxes, this deal has now put you in financial hardship. A property tax loan is a great option to help avoid costly county penalties and fees that are added monthly. If taxes go unpaid by December, the penalties, interest, & fees can be as high as 47% of your property tax bill. We also offer no pre-payment penalties.
All businesses are different and flexible solutions are needed to ensure your continued success. Ovation Lending offers both short-term and long-term solutions, tailored to your business’s needs. Contact us at 877-419-7392 or Info@propertytaxloan.com to find out how Ovation can help grow your business.