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A commercial mortgage could be the foundation of your small business.
Building out your business location is a smart way to increase your assets. Every renovation, upgrade, or expansion adds value to your property, gives you the space you need to streamline operations, or attracts more customers. A commercial mortgage can help you do all this, and more.Remember, there’s more at stake than square footage. Making a smart financing move could help you build a firmer foundation for your small business – both literally and fiscally.
Here’s everything you can use a commercial mortgage for:
- Buy – Get out of that lease and get into property ownership. Leverage financing to buy that business location you’ve had your eye on.
- Build – Can’t find the right space for your business? Create one! A commercial mortgage can cover all your construction costs.
- Expand – Your location needs to grow with your business. Add more square footage when you’ve outgrown your current space.
- Remodel – Renovate an older or outdated location to attract more customers. This works wonders for restaurants and retailers.
- Refinance – Extend your payment term and adjust your interest rate by refinancing with a commercial mortgage.
Some of the property-related documents you may be asked to provide include:
- Purchase contract
- Property blueprints
- Market analysis for the property
- Project budget and scope of work
- Assessment of the property’s existing condition
P.S. While you’re rounding up those documents, why not see what your commercial mortgage options are? You can use our online application to compare options from 75+ lenders. Don’t worry, there’s no cost or obligation.