Financing Made Simple
If you're looking for a straightforward way to finance your business goals, a conventional commercial loan could be the perfect solution.
When Can I use a Conventional Commercial Loan?
Purchasing Commercial Real Estate
Buy the office, store, or warehouse you've been eyeing for your business.Renovating or Expanding Your Space
Ready to Grow? Use the funds to renovate or add to your existing locationBuying New Equipment
Whether you need new machinery, technology, or vehicles, this loan helps you make those upgradesRefinancing Existing Debt
Simplify your payments by consolidating or refinancing your business loans
Conventional commercial loans are designed to help business owners like you get the funding you need to grow, expand, or improve your business. Unlike government-backed loans, these loans come directly from lenders and offer flexible terms that fit your needs. Whether you’re buying property, upgrading equipment, or expanding your operations, a conventional commercial loan can make it happen.
Conventional Commercial Loans at a Glance
Conventional Commercial Loans
Loan Program
Variable; few fixed-rate options
Amortization
20 years amortization or interest only option available in rare circumstances
Eligible Properties
Multifamily, office, warehouse, self-storage, and mixed-use, retail and hotel property types
LTV
Up to 80% Max
Loan Amount
$100,000.00 to $20,000,000.00
Recourse
FULL-recourse & non-recourse available
Tax & Insurance Escrows
Tax & Insurance escrows NOT required on all loans
Foreign Nationals
Borrower must have a checking account in a US based Bank and a social security number
Ready to Grow Your Business?
If you're ready to take the next step in your business journey, a conventional commercial loan might be the perfect fit. Contact us today to learn more about how we can help, or fill out our form, and we’ll be in touch to discuss your options.
FAQS
Who is eligible for a convectional commercial loan?
Businesses of all sizes may be eligible for conventional commercial loans, but the specific requirements will vary depending on the lender
What can I use a conventional commercial loan for?
You can use a conventional commercial loan for a variety of business purposes, including: purchasing equipment, expanding your business, refinancing existing debt, or acquiring real estate.
How long does it take to get a conventional commercial loan?
Interest rates for conventional commercial loans are typically higher than SBA-backed loans due to the lack of government guarantee. They can vary depending on factors such as your credit score, the loan amount, and the type of collateral.
Do I need collateral for a conventional commercial loan?
Yes, most conventional commercial loans require collateral. This can include real estate, equipment, or other assets.
What are the interest rates for conventional commercial loans?
Interest rates for conventional commercial loans are typically higher than SBA backed loans due to the lack of government guarantee. They can vary depending on factors such as your credit score, the loan amount, and the type of collateral.
What are the advantages of a conventional commercial loan?
Faster approval process: Compared to SBA-backed loans, conventional commercial loans can often be approved more quickly
Flexible terms: Lenders may offer more flexible terms than SBA-backed loans, such as shorter repayment periods or different interest rate options.
Higher loan amounts: Conventional commercial loans can often be obtained for larger amounts than SBA-backed loans.
What are the disadvantages of conventional commercial loans?
Higher interest rates: Conventional commercial loans typically have higher interest rates than SBA-backed loans.
Stricter collateral requirements: Lenders may require more collateral for conventional commercial loans than for SBA- backed loans.
Limited government assistance: If you encounter financial difficulties, you may not be eligible for the same government assistance programs as with SBA-backed loans.
HAF Business Associates provides commercial loans and business financing solutions. All loan programs are subject to approval based on applicant creditworthiness, property eligibility, and other factors. Loan terms, interest rates, and fees are subject to change without notice. This website is for informational purposes only and does not constitute a commitment to lend. HAF Business Associates is not responsible for any errors or omissions in the information provided. The availability of these products may vary based on individual qualifications and state regulations. All loan programs and terms are subject to change without notice. To ensure that you are receiving the most up-to-date and accurate information, please contact us directly. Privacy Policy