Commercial

Commercial Real Estate Loans: How to Find the Right Commercial Mortgage

A commercial real estate loan is most commonly used to purchase and/or renovate an owner-occupied commercial property. An “owner-occupied” commercial property is generally considered to be a property where the business occupies at least 51% of the building. Commercial mortgages are used to finance such commercial properties as mixed-use buildings, retail centers, and office buildings.

If you’ve been in business for 2+ years, plan on occupying at least 51% of the building, and have a credit score above 680, you may qualify for an SBA 7(a) loan with Northeast Bank. Northeast Bank offers competitive rates & terms on loans up to $5,000,000. See if you prequalify.

Read Article at Fitsmallbusiness.com

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