Commercial Real Estate Loans
We offer both long and short-term real estate financing solutions, including acquisition, constructions and development, and permanent. Our solutions support business owners who are looking to purchase new property, develop land, or fix and flip property for a profit. Our real estate financing options vary in length from 1 – 30 years with affordable rates.
Acquisition Financing
For businesses large and small, the purchase of real estate is an essential part of growth and expansion. Whether funds are needed for purchasing another building to be used for storage, expansion, or owner occupation, a real estate acquisition loan is often the first choice. Almost any type of legitimate business is eligible for financing, including manufacturing, wholesale, service, professional service or retail. We offer long-term loans, typically 10 to 20 year for the purchase of commercial real estate. In most cases, applicants are required to inject approximately 10 percent of the total real estate cost. The low interest rates make our acquisition loans very affordable, particularly for small businesses.
Construction Loans
We offer short-term construction loans, typically 3 years in length, to finance clients’ development projects. These loans are secured by a mortgage and are used to cover the cost of development and building construction. The funds are disbursed as needed, or as parts of construction are completed. Disbursement can also occur according to a prearranged schedule. Permanent financing is usually arranged before the construction loan is disbursed. Our construction loans are available for construction of new facilities, or to modernize, renovate or convert existing facilities. Funds can also be used for the purchase of fixed assets like interior or exterior improvements, including owner-occupied buildings, street improvements, utilities, parking lot construction or repair and landscaping. We provide options like low APRs and easy repayment plans, making our short-term construction loans perfect for many businesses.
Development Loans
Typically short-term, 1 to 3 years, a development financing is used for the development of land. Development loans are used for things like; construction of buildings, excavation work, running electrical lines, storm sewers and roads. Development loans typically require that the property be used as collateral for the loan until it is sold or can financially support permanent financing. Unlike a construction loan, in which funding is used for building improvements only, a development loan is used before there are any buildings on the land. Our development loans feature up to 65% Loan to Value and low APR making them, potentially making them the most desirable financing for businesses looking for funding for development projects. Typically proof of past projects and experience will be required for approval.
Permanent Real Estate Loans
In real estate projects, permanent financing is obtained after completion of construction, usually to repay short-term construction loans. Our permanent loans are long-term, typically 15 – 30 years for the financing of fixed assets like real estate. Funds can be used to repay construction loans, financing for property acquisition, or to refinance against existing debt. Permanent financing is also known as permanent mortgage. With a qualifying credit score and Loan to Value ratio of up to 85%, business owners will be approved for funding. Applicants will need to provide DOT and clear title to qualify for permanent financing.