REAL ESTATE FOR YOUR BUSINESS

Buying commercial real estate for your business could be one of the best investments you will ever make. Being in control of your property lets you call the shots. You decide how the property is used, who your tenants are, or when it is time to renovate. And there could be tax advantages, too. But knowing the best way to finance the property can be complex. A traditional mortgage or SBA loan offer different advantages based on a buyer’s specific needs. One of Savoy’s loan specialists can help determine what type of loan is best for your situation and tailor it to meet your goals.

 

 
SBA 7(a) Loans
Conventional Mortgage Loans
Loan Size
Up to $5 million Up to $6.0 million
What can you use Loan funds on?
Purchase owner occupied (minimum 51%) real estate, refinance commercial mortgages, fund renovations, purchase equipment Purchase real estate, refinance commercial mortgages, fund renovations, purchase equipment
Terms
Fully amortized for up to 25 years 5 years with one or two 5 year
renewals, amortized over 25 years
Benefits
Up to 90% financing of purchase or project costs Up to 75% financing of purchase or project costs
Considerations
Slightly higher upfront costs Higher equity injection
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Contact Savoy’s Specialized Loan Team