Hospitality Property
Full-Service: These hotels are loaded with guest services and amenities restaurants, banquets, concierge, spas and retail shops.
Limited-Service: These properties are a step down in terms of service and amenities, often including meeting rooms, a fitness center and a swimming pool.
Budget: These “no frills” hotels may offer one or two guest services or amenities, but they tend to focus on providing the basic necessities for a very low rate.
Bank And Credit Union For Owner Occupied
Banks and credit unions generally provide some of the lowest rates available in the market, making them attractive sources of debt for many businesses. These lenders will finance a broad range of property types and are usually flexible with uses of funds. Financing may be used to acquire, develop, construct, or rehab commercial property, as well as to refinance existing debt, or consolidate multiple loans. These lenders provide an assortment of products including fixed and variable rate structures.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
CMBS
CMBS loans are institutional grade commercial mortgage loans that are pooled with other CMBS loans and then securitized into a bond. Generally, loan amounts must be in excess of $2.5 Million and the property types are generally limited to multi-tenant properties such as multifamily properties (5+ units), office buildings, retail properties (e.g., shopping centers), self-storage facilities, or industrial properties (e.g., flex space or warehouses). Flagged hotels are also eligible for CMBS financing, as are single, credit tenant properties.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
SBA 7(a)
SBA 7(a) loans are one of the most popular SBA loan programs because they provide the lowest down payment (10%) for real estate acquisitions, are a long term solution with no balloon payment, have competitive terms and a variety of uses. Small businesses can utilize the SBA 7(a) program to acquire their own office, warehouse, store, or other commercial real estate, or even construct a brand new facility. The key is that the business must occupy for its own use at least 51% of the property. Other uses for SBA 7(a) loans include equipment purchase and working capital.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
SBA 504
SBA 504 is a powerful economic development loan program designed to promote business growth, and job creation by providing commercial real estate financing to small businesses. The 504 program works by distributing the loan among three parties. The business owner puts a minimum of 10%, a conventional lender (typically a bank) puts up 50%, and a Certified Development Company (CDC) puts up the remaining 40%.The 504 program may be used to finance the acquisition and/or development of an existing building, ground-up construction, expansion of a building, or heavy equipment.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
Bridge Program
A bridge loan is a short-term loan that provides financing to acquire a property when traditional financing solutions are unavailable or impractical due to timing restrictions or where the property is unstabilized. Bridge loans are typically arranged quickly, even in a matter of a few days, with relatively little documentation. As private short-term loans, they have higher rates and fees versus conventional or permanent financing, and can be non-recourse based on the characteristics of the deal.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
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