Small balance commercial loans are exceptional options for commercial properties. They typically come with less strict requirements – lenders can offer commercial borrowers a vast range of options with this increased flexibility. Many large banks and commercial lenders do not offer small balance commercial loans, but they can be a great asset for borrowers. Typically balances span from $250,000 to $5,000,000, covering a large portion of commercial property assets.
However, amounts vary depending on the lender and borrower, so narrowing down an exact average can be difficult. You will need to speak with a lender and address the specifics of your situation to receive an accurate estimate.
Small balance commercial loans typically consider the type and condition of the borrower’s property, cash flow to the property, and borrower financial situation such as debt on the property. However, Monroe Funding Corp offers small balance commercial loans and Florida commercial mortgages with immediate approvals.
Our closing process takes far less time than large banks and other traditional lenders. Once your application is received, pre-approval can be delivered in under an hour with no personal qualification required. Loans are strictly asset-based.
Small balance commercial loans can be used for properties such as single-family homes, offices, retail spaces, or mixed-use spaces. Monroe Funding Corp focuses on lending for residential properties, apartment buildings, and most types of commercial properties.
If you are interested in a small balance commercial loan, please visit us online to get in touch with us to set up a consultation.