Buy a building for my business
This section will talk about Owner-occupied commercial real estate – also known as owner-user commercial real estate. (For investment properties- click here) The owner must occupy more than half—51% or more—of the building’s leaseable space for the purposes of running their own business. A business that has the same ownership as a holding company that owns the property is also considered owner-occupied.
Asset types that qualify for owner-occupied financing include industrial buildings, flex, retail, office properties, and professional medical offices. Special-use properties such as self-storage, assisted living facilities/skilled nursing facilities and other healthcare properties, day care, and event centers also qualify. A multifamily property is not eligible for owner-occupied financing, but mixed-use buildings and hotels do qualify.
Financing Options Available
Conventional Financing
SBA 504 (Low as 10% down)
SBA 7a Loan (Low as 10% down)
USDA B&I Loans
Hard Money Loan (For low credit borrowers or very special use properties)
Helpful Resources
Small Business Development Center- Washington
Small Business Development Center- Oregon
Small Business Development Center- Idaho
SBA Lender Match
Helpful Links
CBA- Commercial Multiple Listing Service
Video- What is an SBA 504 Loan
Video- How bankers look at you numbers
Video- Commercial vs Residential Loans- There is a difference
Article- Borrowing for commercial real estate is different from a home loan
Article- Commercial Real Estate Loan Guide
Calculators
Depreciation Calculator
SBA 504 Loan Calculator
Loan Payment Calculator (Use 25 year loan term)
