In addition to putting a lien on your business, some commercial mortgage lenders may also insist on encumbering your private home. This is a very delicate situation indeed. You can not blame the lender for wanting to secure the payment of his loan by all possible means. If you trade a lien on your home for the money and your business doesn’t improve, you chance leaving your family out in the cold. You want to look cautiously at this course of action and only follow it with great care.
If you want to find commercial mortgage lenders willing to give your business a chance, you should shop around. You are very likely to get help from a commercial mortgage broker who, of course, must maintain relationships with several different lenders. He would be able to give you information about the variables and limits used by different lenders. Sure, commercial lending institutions are facing troubles of their own these days, but you must remember that they only make money if your loan application goes through, so you should assume that they’ll be on your side as much as possible.