Business Real Estate Loans
Business Real Estate Loan Rates - Rates updated July 26th, 2024
| Loan Product | Rates (start as low as) | LTV | |
|---|---|---|---|
| 5 Year Fixed | 6.23% | 65% - 90% | Get Free Quote |
| 7 Year Fixed | 6.26% | 65% - 90% | Get Free Quote |
| 10 Year Fixed | 6.33% | 65% - 90% | Get Free Quote |
One of our specialties is providing business mortgage loans to assist self-employed small business owners acquire, refinance, or expand their business properties. While many banks and other lending institutions have stopped lending to small business owners, we are aggressively arranging loans at very attractive rates. Business real estate loans or owner occupied real estate loans for owner-user properties require a specialized commercial real estate lender. At Select Commercial, we offer both conventional and SBA owner occupied commercial mortgage loans.
In addition to analyzing the business real estate loan, the lender must have a thorough understanding of small business lending to self-employed borrowers. At Select Commercial, we are proud of our record of lending to self-employed borrowers. Quite often, self-employed real estate owners need underwriting flexibility with regard to their income and credit. Many times, a “Stated-Income” loan is necessary. Other times, a past credit issue or tax lien has caused a bank to reject the loan. At Select Commercial, we look at the entire story and are willing to overlook these issues if the loan makes good, common sense.
Business Real Estate - Types of Loans
• Owner Occupied Offices and Retail Properties – Select Commercial loves to lend to self employed borrowers who are looking to finance their owner-occupied properties. We lend to doctors, dentists, other health care professionals, lawyers, accountants, retail store owners, etc.• Restaurant Mortgage – Select Commercial specializes in restaurant financing for both seasoned operators and new owners. Whether you are starting a new business, or expanding an existing business, obtaining the right restaurant mortgage loan is almost as important as finding the right location for your restaurant.
• Bowling Alley Loans – we are pleased to offer bowling alley loans for the purchase or refinance of bowling alley properties nationwide.
• Campground Loans – we are pleased to offer campground loans for the purchase or refinance of campground properties nationwide.
• Car Wash Loans – We are pleased to offer car wash loans for the purchase or refinance of car wash properties nationwide. Select Commercial specializes in car wash financing for both seasoned operators and new owners.
• Gas Station Loans – we are pleased to offer gas station loans for the purchase or refinance of gas station properties nationwide.
• Marina Loans – we are pleased to offer marina loans for the purchase or refinance of marina properties nationwide.
We will consider business mortgages on most property types, including: hotels/motels, gas stations, convenience stores, laundromats, other professional offices, warehouses, industrial facilities, auto repair, retail stores, self-storage, day care, liquor stores, assisted living facilities, etc. Physicians, dentists, veterinarians, and other medical professionals may qualify for up to 100% financing for their medical practices, including working capital. We will also entertain business loan requests for highly specialized, single-use properties, such as bars, restaurants and skating rinks. We even financed a sky-diving wind tunnel for one of our clients!
Our company has multiple capital sources for these business real estate loans, including: SBA, USDA, numerous local and national banks and credit unions. We will entertain loan requests of all sizes, beginning at $1,500,000.
Business Mortgage rates start as low as 6.33% (as of July 26th, 2024)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Financing up to 90% LTV on SBA deals
• Financing up to 75% on conventional deals
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• Access to business working capital to fund new business growth
• 24 hour written pre-approvals with no cost and no obligation
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Business Real Estate Loans 2024
As we progress through 2024, the commercial real estate loan market continues to evolve, with a particular emphasis on owner-occupied properties. These loans are proving to be the most resilient and sought-after segment in the business real estate loan sector. The Federal Reserve has maintained stable interest rates, fostering a more predictable lending environment. This stability has helped align seller asking prices and buyer offers, facilitating smoother transactions. Despite economic challenges, lenders are offering competitive terms for well-performing properties, especially those that can adjust rents to meet rising debt service costs.
Many loans maturing in 2024 will face refinancing challenges, potentially requiring property owners to inject more equity to maintain cash flow. The office and retail sectors remain vulnerable, with many properties being repurposed for other uses. However, properties that can adapt to market demands, such as those in the medical field, are better positioned. The commercial real estate industry must navigate higher rates and economic uncertainties, but a cautious approach by the Fed aims to mitigate severe disruptions. We will continue to monitor the market closely and adapt our strategies to support our clients.
Owner-Occupied Real Estate Loans 2024
Owner-occupied properties remain the strongest segment in the business real estate loan sector. These loans are crucial for business owners looking to purchase or renovate properties such as stores, offices, or warehouses for their own use. Here are the key advantages of owner-occupied commercial real estate loans:
Build Equity
Purchasing your commercial property allows your monthly payments to build your own equity instead of your landlord’s. This equity, which is the difference between your property's value and the amount owed, becomes a valuable asset for your business, creating a more stable financial future.
Lower Interest Rates
Owner-occupied commercial real estate loans generally come with lower interest rates compared to other types of commercial property loans. Lenders view these loans as less risky because business owners are more invested in maintaining their property and ensuring timely payments, assuming they have a good business credit score and history.
More Control Over the Property
Owning your property gives you greater control, allowing you to customize the space to better meet your business needs. You can make improvements, adjust branding, and modify the property without needing approval from a landlord.
An owner-occupied commercial real estate loan provides numerous benefits to business owners. For more information about commercial loans, please contact us today.