Commercial Loan & Lending Programs

Whether purchasing or refinancing, there are hundreds of programs available to either purchase or refinance a commercial building or business. We at Today's Mortgage have several different programs for commercial buildings and small business.

We work with several different lenders and investors nationwide.

We can help you to get financing for Apartment building, Gas station, Motel, Hotel, Retail shopping centers, warehouses, Medical centers, and loans for small businesses.

Commercial Loan

A commercial mortgage or property loan obtained for the purpose of buying or developing commercial land or commercial real estate investment properties. Used to aquire or build office buildings, shopping centers, industrial, self-storage, hotels, and apartment buildings. May be used for short or long term goals to finance a company's funding needs primarily for working capital. May be secured by the business or by real estate as collateral. Interest rates for commercial loans are usually about a point higher than for personal mortgage loans.

Bridge Loans

The standard loan type for Private Money (HARD Money) financed commercial loans (both PURCHASE & REFINANCE). Borrower(s) need to have an exit strategy for paying off the loan and must be accepted by Lender.

A loan that is used for a short duration of time until permanent financing is put in place. Bridge loans are a perfect solution to a timely acquisition or business opportunity, because they allow a purchaser or investor to act quickly. These loans can be used for acquisitions, buy-outs, foreclosures and cash-out purposes. The benefit of this type of loan is speed to close and fund. Also, limited documentation and/or valuation may be used to accelerate process.

Conventional Loans

The standard loan type for bank rate-financed commercial loans (both PURCHASE & REFINANCE). Not everybody can qualify for this type of loan, but those that can receive a great loan!

A type of loan financing that is made by banks and Main street investors. Conventional loans provide the best rate and terms to the loans that can qualify for them. Strict limits on LTV, DSCR, DTI and usage of any cash-out. Borrower(s) must document and validate all financial data (personal and business) by submitting various conditions, including tax returns. While the loan has a higher requirement for documentation and burden of proof, Conventional loans provide the lowest interest rates, longest fixed payment and amortization periods, most conservative pre-payment penalties and higher LTV percentages. These loans are often referred to as "FULL DOUMENTATION" loans

SBA Loans

Is best used by a borrower that is purchasing or refinancing a commercial real estate property that will be at least 51% Owner Occupied and cannot obtain conventional financing. The remaining portion of the property may be leased out to tenants and generate income for the property owner. SBA loans utilize a first mortgage and a second mortgage (when applicable) that are guaranteed by the SBA. Both loans are processed simultaneously to decrease the time required to fund the transaction.

The two most popular SBA loan programs are the 7(a) and 504 programs. Loan fees are usually required by the SBA, but they are currently being waived by the government. Please contact C-Lending regarding the latest status of these fees. Each loan program is described separately, below.

SBA's Loan Program helps small businesses obtain credit by giving the government's guaranty on loans made by commercial lenders. Applicants must meet SBA's definition of small business. The SBA, working with authorized lenders, guarantees a portion of the loan. The SBA's loan program enables most borrowers the mortgage that they otherwise would not have been able to qualify for. The most commonly used SBA programs used in commercial real estate financing are the 7(a) and 504 programs. SBA loans are for only Owner Occupied property and can be used for either purchase or refinance.

SBA 504 Term Loans

Loan amount from $250,000 to $5,000,000. More stringent qualification criteria: net worth must be less than $7,500,000; net profit must be less than $2,500,000 during previous 2 years; and, job(s) retention or creation required. Total loan structure is bank 50%, SBA 40% and borrower injects remainder. Used to purchase, construct or renovate commercial property that is at least 51% Owner Occupied and for major capital equipment or machinery (minimum useful life is 10 years).

SBA 7(a) Term Loans

SBA's primary loan program and it is also the most flexible. Loan amount up to $2,000,000, with the SBA guaranteeing up to 85%. The use of proceeds is the widest available. Funds 100% from bank, with the SBA guaranteeing 75% - 85%.

Please contact us for further details about commercial loans.