Commercial and Business Lending

Commercial Real Estate Loans

• Purchase or refinance existing commercial use or multi-family buildings.
• Construction loans for commercial, multi-family or other non-residential purposes.
• Modernize, renovate and improve existing buildings.
• Develop additional sites.
• Property Types - Most income producing properties are eligible.

  Examples:

  • Light Industrial Buildings, Office Buildings, Shopping Centers, Apartment Buildings.
  • Special underwriting conditions may apply to special purpose properties, such as gas stations, hotels/ motels, free standing restaurants, day cares, multi-family properties, etc.
• Term/Amortization - Fully amortizing loan up to 25 years or a shorter term loan with a balloon note.
• Loan to Value - As high as 80% for income producing commercial real estate.
• Debt Coverage - At least 1.25x debt service coverage, but may vary depending on property type and loan structure.
• Interest Rates - Fixed and floating rate pricing structures are available.

 

SBA Loans 7(a) and 504 Loan Programs

• Guarantee from or participation with the US Small Business Administration.
• Lower down payment.
• Longer repayment period/lower monthly payments – up to 25 years for real estate and 10 years for equipment.
• No balloon payments.
• Up to 90% financing for qualified requests.
• Funds can be used for real estate purchase, construction/renovations, leasehold improvements, equipment/machinery purchases, business acquisition or start-ups.