With our ability to provide commercial loans to clients this is a major benefit to many individuals looking to purchase commercial property throughout Colorado. We can service loans anywhere from $100,000 to $250,000,000 million. Our proprietary portal of lenders will definitely prove to be a tremendous value to anyone looking for financing for any property type. This space has been extremely vague and hard to break into, due to not having the proper systems in place, and relationships established.
Property Types for Commercial Loans
The following are just some of the property types we can now assist you with, and our rates and programs will rival that of any retail bank in town.
- Office Buildings
- Multi-Unit Apartment Complexes
- Heavy Manufacturing Industrial
- Light Assembly – Storage, product assembly, and office space
- Mixed Use – Office and Retail
- Bulk Warehouse – 50,000 – over 1 million square feet
- Retail Strip Centers
- Community Retail Centers
- Special Purpose – ie, Car Washes, Funeral Homes, Community Centers, Nursing Homes
With our proprietary relationships, we can align your loan scenario, just like on the residential side, with hundreds of lenders on the commercial side, within minutes, offering you a Pre-Qual certificate within 24 hours to give to your Commercial Real Estate agent.
With Colorado at the forefront of residential home appreciation, and with over 200 people moving here a day, commercial loans will prove to be leading the surge as well, as Denver continue to grow in size.
Types of Commercial and Small Business Loans
It is important to understand the types of commercial loans available to you. There is a great resource available at https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs. The loans have different requirements and benefits depending on your goals and situation. Below are the types of loans we will discuss:
- 504 Loans
- 7A Loans
SBA 504 Loans
CDC/504 loans are meant to help small businesses grow by allowing them to purchase large equipment, land, real estate, or help re-structure your business debt.
A couple of the major requirements for a 504 loan include:
- your business must have a net worth under 15 million
- it must be a for-profit business
- meet these additional requirements listed by the Small Business Administration.
SBA 7A Loans
7A loans, also know as the General Business Loans, are the most common type of loans offered by the Small Business Administration. A 7A loan can be used to start up a new business or expand an existing small business. While the maximum amount that can be funded is 15 million dollars, the average hovers around $370,000. These funds received for these loans can be used to:
- purchase existing businesses
- buy equipement
- refinance existing debt
- fund short and long term working capital needs
A few of the eligibility requirements for the 7A loan include (but not limited to):
- business must be a for-profit business
- owner must have a reasonable amount of equity
- plan to do business within the United States
- and plan to use personal assets to hep run the business
- A number of additional requirements can be found here
Process for Securing an SBA 7A Loan
You will need to start the process by completing an SBA Loan application. You will also need to be prepared to provide the following information:
- Personal background and financials
- Business financials
- Business profit and loss statement
- Ownership and Affiliations
- Business certificate
- History of loans and loan application history
- Tax returns (personal and business)
- Business overview
- Current business lease
If you are using the loan to purchase an existing business you will need to provide information on the business you are purchasing as well as details of the sale.
For questions on any Commercial loan product or scenario, please email me at email@example.com or call me at 720-524-3215
Contact Brian Today!
Hello, my name is Brian Quigley and I have been in the Denver mortgage industry since 2003. I have been fortunate enough to choose this very rewarding mortgage broker career and help thousands of borrowers over the years. Customer satisfaction is important to me most, and getting my clients to the closing table smoothly. Read More…