The vast majority of Apex commercial mortgage borrowers are keeping up with their monthly payments, despite the economy’s slow recovery.
As 2013 begins, certain types of properties are doing very well. Commercial mortgage borrowers who operate multi-unit residential units, retail and professional offices, and small retail units had small delinquency rates as of December 2012. Likewise, borrowers who own properties like motels, hotels and churches are experiencing low delinquency rates and doing well in terms of keeping up-to-date with payments.
The economy has taken its toll on some businesses, though. Some commercial mortgage borrowers who own properties such as bars and restaurants, funeral homes, adult care facilities, day cares and certain types of auto repair shops are experiencing difficulty. These types of businesses are often viewed as non-essential services during difficult economic times.
Although some businesses are having a tough time, Apex commercial mortgage borrowers are doing well overall. The economy may be growing slowly, but it is growing. Small businesses are the backbone of the American economy, and if they continue to do well, so will the economy. However, more people need to take the opportunity to start small businesses. If you are interested in obtaining a commercial mortgage to achieve your business goals, Apex Mortgage can help. Contact us at 1-800-262-2739 for information about our services and the assistance we can provide.