By Jeff Rauth. Email Here or 248 885-8797. SBA Loan Officer at a Bank That Lends Nationally. 15 Years Commercial Real Estate Experience. Past Commercial Mortgage Broker.
We provide commercial construction loans for owner occupied properties nationwide and are actively closing and seeking new projects. We invite you to explore our programs and to see if we’re a good fit for your project.
The borrowers business must occupy at least 51% of the proposed building to qualify. Projects include both full ground up construction, renovations or building expansion. Loan amounts from $750,000 to $13,000,000. Virtually all building types are considered including general purpose properties like office, retail, industrial, etc. or special purpose properties like restaurants, daycare facilities, automotive properties, etc.
In general we will go up to 85% loan to cost with long term fixed rates (up to 10 years). Rates are very competitive and most importantly the term loan and the construction loan are tied together, so you won’t have to coordinate a second loan with another bank (and pay an additional set of closing costs). In other words we do both the construction loan as well as the permanent term loan.
And our commercial construction loans are still viable, in this credit crisis.