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Berkshire Hathaway unit starts commercial lending division

Berkshire Hathaway Inc. unit Vanderbilt Mortgage & Finance Inc. is launching a commercial lending division.

The new division will offer commercial financing in select states with a focus on making loans in the range of $1 million to $5 million.

Previously, Vanderbilt originated loans entirely for consumer manufactured housing. It is now expanding its operations to include lending to land-lease communities such as manufactured housing communities and parks.