Commercial Real Estate Loan by SmartBiz

Commercial Real Estate Loan by SmartBiz

SmartBiz commercial real estate loans allow small business owners to build net worth by owning the commercial property they operate in. Long terms, minimal down payments, and low rates allow for manageable monthly payments. The 25-year, fully amortizing term, eliminates the stress and risk of loan maturities and balloon payments.

Nav's Verdict

Cost
10% Complete
LowHigh
Effort to Apply
90% Complete
EasyDifficult
Funding Speed
90% Complete
MonthsMinutes
Repayment Terms
90% Complete
MonthsYears

9/10

Bottom Line

If you are looking to purchase or refinance commercial real estate, this is a great loan with great rates and highly favorable repayment terms.

Pros

Great rates and terms. Removes the business risk associated with loans that carry maturities or balloon payments.

Cons

Must be used for commercial real estate. Requires a 10% down payment.

Qualification requirements

Time in Business

At least 2 years

Personal Credit Score

Minimum 660 FICO

Cashflow

Must be profitable

Property Requirements

51% owner-occupied property

Business Taxes

2 years of business tax returns

Other Requirement

No bankruptcy in the last 3 years.

Allowed Use of Proceeds

Can only be used when purchasing or refinancing owner-occupied commercial real estate.

Cost
6.36% - 6.41% APR
Repayment Duration
Monthly payments for 25 years.
Funding Amount
$500,000 - $5 million
Funding Speed
6 - 8 weeks
Origination Fee
1%, can be rolled into the loan amount
Other Fees
Typical real estate related fees (appraisal, environmental, title, etc)

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