When starting a brand new business or expanding an existing one you already own, many businesses seek sources for a commercial mortgage they can use to buy property in which to house their venture. Essentially, there is little difference between a commercial loan and a residential mortgage as the credit worthiness of the business owner is considered before taking action on the loan.The business itself, regardless of how viable it may seem, will not qualify for a loan without the owners or principals of the business having the reputation of repaying their financial obligations. If the owner has a bad credit history, the odds of them receiving a commercial mortgage are reduced without going through some companies that do offer loans to people with questionable credit histories.Even those with stellar credit reports may have difficulty obtaining an approval if the plausibility of the business does not meet the requirements of the lender. The institutions responsibility is make loans only to those who can show the ability and willingness to make timely repayment of the loan and the property for which the loan is being sought also has to meet specific criteria.A property is disrepair may not qualify unless it can be shown to be refurbished to a good value for a reasonable cost. Essentially, a lender will not loan money on a building that will have to be replace almost immediately, unless the property itself is valued above the loan value. Even in these situations, the lender may require a time line in which improvement will be made and proof during the renovation stage that the improvements are on track to meet the deadline.Acquiring a commercial mortgage typically requires more financial information than a regular mortgage in that information about the business is collected along with information about the owner or principals who are accepting the responsibility of repaying the loan. Business information may include the value of any assets such as equipment or accounts receivable as well as projected income show in the form of firm orders for products or services.If the business has been established for any time, an income history may be required as well as showing that the business has paid its debts in a timely manner. Those seeking a commercial mortgage to raise money to get out of debt, may find the option not very likely. However, funding a business loan to erase debt to enable the business to purchase additional properties may be possible, if all properties are eligible to be used as collateral.With many agreements, it is not unusual for an amount of 80 percent to be granted to those with good credit, as the lender may consider a 20 percent down payment as a commitment by the buyer to maintain ownership of the property. Having the financial commitment in place is usually a good indication of the new owners willingness and desire to see the loan through to completion.