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Commercial Real Estate Loan by SmartBiz

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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

LowHigh

Effort to Apply

EasyDifficult

Funding Speed

MonthsMinutes

Repayment Terms

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.

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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)

Reviews

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Reviews are not provided or commissioned by the credit card, financing and service companies that appear in this site. Reviews have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.