Is there a difference between a commitment and a conditional commitment from a bank for a business loan?
This all depends on how it is written. In the truest sense, a commitment means as it is, you are approved. A conditional commitment may be used to say nothing can change, or a condition must be met. That condition may be that you would select collateral that is acceptable to the lender, of a certain value or that some other condition is met prior to the loan closing. The basic commitment really always assumes that conditions don't change adversely, and both should have a termination date as to when the commitment expires.
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This all depends on how it is written. In the truest sense, a commitment means as it is, you are approved. A conditional commitment may be used to say nothing can change, or a condition must be met. That condition may be that you would select 