Ready to stop paying rent to a commercial landlord?
How would it change your business planning if you had a fixed rate loan on your own business property? The benefits of owning commercial real estate can be significant. At Colonial, we have professional commercial banking experts who will work with you to determine if buying commercial property is the right decision for you and your business. And we can quickly run different financial scenarios to find the best solutions for your financial objectives.
What is owner-occupied property you ask? Just that – a location that houses the owner’s business. The program is viable for small business owners who are:
• buying the real estate property that your business operates its business out of, or
• refinancing the real estate property that your business operates out of.
The business must:
• occupy more than 50% of the property and,
• generate sufficient cash flow to cover debt service without reliance upon rental income from the leased space.
If you think your small business qualifies, or just want to have a discussion to learn more about the financial impact of owner-occupied commercial property, contact Brent Davis, Colonial DFW Commercial Bank President, at 817-390-2293.
See below for additional information.
| Structure | |
|---|---|
| Minimum Amount | $100,000 |
| Maximum Amount | $2,500,000 |
| Interest Rate & Maturity Option 1 | 3.79% with a maximum maturity of 5 years |
| Interest Rate & Maturity Option 2 | 4.79% with a maximum maturity of 10 years |
| Amortization | Up to 25 years |
| Maximum LTV | The lesser of 80% LTV OR 85% LTC |
| Fees | 0.50% origination |
| Prepayment Premium Option 1 | 5 year maturity – 3, 2, 1 |
| Prepayment Premium Option 2 | 10 year maturity – 5, 4, 3, 2, 1 |
