The difference between a light industrial and a full manufacturing facility is the equipment used and the volume of work that is done. In a light industrial operation, the machines are typically operated by one individual and the products produced can be handled, packaged, stacked, and shipped without heavy duty cranes and equipment. The most powerful piece of shipping and receiving equipment you'll see in light industrial facility is a forklift. Manufacturing facilities have assembly lines, massive loading docks, and more automation than you'll see in a light industrial building.

 

Another difference between the two is the way that banks and lenders treat the loan applications for commercial mortgages and working capital. Liability and equipment costs for a light industrial facility are lower than they are for a manufacturing operation. The number of people employed is lower, the amount of product produced is lower, and the maintenance and repair costs are lower. Banks always want to know what your overhead will be before they'll issue you a mortgage or loan. Whether you can afford to pay that overhead is directly related to whether or not they get paid back.

 

Before you fill out our iBank loan application form, create a business plan and list all of your known and projected costs. Round them up and take into account that you might have to do unexpected repairs or upgrades to your equipment at some point. If you've been working in the industry for a while, you know what those costs will be. Perhaps you've experienced unexpected set-backs in the past. Once you've added up all the numbers, compose a plan of action for your new business venture.

 

Once your business plan is complete, you'll be ready to field questions from banks and lenders. Fill out our iBank application form and submit it. We'll put your request out to multiple lenders, including banks and mortgage institutions. You should receive multiple offers, so don't just take the first one that comes along. It's best to wait if you can and get the best terms and interest rate possible. That is the reason why you came to us, so let our system work for you. Good luck in your new light industrial enterprise.