What is a Conventional Commercial loan?
A conventional commercial mortgage loan isn’t backed by the federal government and is issued by a bank or lending institution. It can be used to purchase or refinance real estate, such as owner-occupied office buildings, retail centers, shopping centers, industrial warehouses, and other commercial properties.
A conventional commercial mortgage’s advantage over an SBA loan is that it has no maximum loan size, which makes it ideal for large commercial real estate purchases or blanket mortgage loans.
Because these loans can be large and aren’t government-guaranteed, the required qualifications are stricter. A minimum credit score is needed, and some lenders may require you to be in business for a certain number of years. The larger the loan requested, the more stringent the financial and credit requirements will likely be.
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