How to qualify for a 2 Million Dollar Loan

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If you’re in need of a large amount of money for acquiring a property or starting new business projects, worrying about how to qualify for a 2 million dollar loan is only natural. Most loans or credits go from $50,000 to 1 million dollars, which is quite reasonable considering that both businesses and individuals can access them. 

However, it isn’t the same to apply for a small credit compared to such a large amount. As a result, the requirements from the lender you choose will always be strict and very specific, even more, when you consider banks or similar institutions as your main lenders. 


Now, not all lenders request the same documentation and terms to fulfill in order to qualify for the loan you need. But rather than focusing on what each lender will request, it’s better to have certain aspects to consider as general and mostly, mandatory ones:

  • Your credit scores. 
  • Personal or commercial financial records—or both, if you’re a business. 
  • The collateral you can offer. 
  • The repayment time you’re aiming for. 
  • Interest rates that fit your needs and situation. 

Two of the requirements most lenders consider—and we don’t want to include on the list since it isn’t always—are if the business has been operating for over 2 years and its revenue to establish a minimum for the application. 

Banks and credit unions usually request borrowers to be at least 2-3 years in business and be able to guarantee over $5 million-dollar in annual revenue. This will guarantee the business is able to repay the debt, but when you consider how to qualify for a 2 million dollar loan and then come across with this, you’re most likely going to have a hard time trying to meet the requirements. Although this loan is also available for individuals, it isn’t in traditional institutions like the previous ones mentioned. 

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Also, the conditions vary and adjust to a more personal credit than a general one for a business. In case of going for the credit to cover personal expenses or maybe buy a property and invest in real estate, you still need to consider the previous aspects. After all, they go around what both businesses and particulars are able to provide to apply for the loan. 

With that said, our team at Commercial Real Estate Loan Pros of West Palm Beach can offer you different terms and walk you through the best method to qualify for a 2 million dollar loan. We aim to offer the best options and conditions so more people are able to obtain the loan without having to worry about the interest rates, loan terms, and other aspects. We do think about ourselves and as lenders, we worry about how the borrowers can repay the debt. 

However, we also think about you and how you would be able to manage high-interest rates or very strict terms when you can prove yourself to be creditworthiness, worth of the loan, and provide other elements to show you’re able to cover the credit in the time it lasts. 

How you can apply for our 2 million dollar loan  

Essentially, we maintain the basic requirements that most lenders work with, such as the credit score, the time you’ve been in business, the purpose of requesting the loan, and if you’re a business or not. We want to make clear before anything else that requesting 2 million dollars as a personal loan is very weird, which is why we have established different requirements depending on if you’re a business or individual. 

For businesses, we do consider the years your company has been operating, but more than the time, we are interested in how it started and how it is going. This means we will consider your current situation and evaluate your monthly revenue to see if you can afford repayments. So far, this is similar to most lenders, but the main difference here is that we won’t establish a specific annual revenue for you to cover the loan. 

Instead, we will work around what you do, how much you have, and if you are in conditions of repayment based on your situation only. This gives us—and you—more space to build the terms and conditions you can afford and are a fit for what you are looking for in the loan you’re about to access. With that said, we also need collateral in order to provide the funds. 

Since this isn’t an unsecured loan and a large amount is involved, we’re unable to offer you the funds without collateral that is worth it. For us, the collateral is even more important than other aspects, so you might want to keep this in mind if you feel like having good credit or even an excellent one is something you cannot fulfill. Again, we work around you, so feel free to apply even if you’re a bit off with the requirements. 

Finally, for individuals, the difference will be in that we don’t need a commercial finance record or credit score. And we’re more interested in knowing what the funds will be used for. Therefore, for individual application, and if you’re interested in how to qualify for a 2 million dollar loan, consider these requirements:

  • Good or excellent credit score. 
  • Personal credit. 
  • Your personal revenue.
  • Collateral for the loan repayment terms.
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How much are our interest rates? 

Since $2 million is the maximum amount we can offer, we work with different interest rates considering it is a lot and consists of a long-term loan. Usually, we manage a 5% to 12% depending on the rest of the terms of the loan. 

For example, repayment time, the situation of the business or person, and how will monthly payments take place. However, we assure you that our team at Commercial Real Estate Loan Pros of West Palm Beach will offer you the lowest interest rate possible for this loan. 

We are excited to have you on board as a borrower so you can finally start a new project or go for an important acquisition. Always keep in mind we worry about our clients and that means we can be flexible and less strict with the final conditions of the loan. Therefore, don’t hesitate to reach out to us for such a big step.

There are so many areas or regions where we offer these services with most of them being cities.

However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.