We have a borrower looking to buy a warehouse in Oakland to house his film production company. We do not do commercial loans of this nature, but we do know somebody who specializes in them.
Borrowers looking for commercial or mixed use properties should always consider SBA (Small Business Administration) Financing. The SBA only requires a 10% down payment, the terms are extremely favorable for commercial financing, and the underwriting is much more flexible than it has ever been.
It is a much better alternative to the private money financing that many borrowers resort to.
The caveats are that SBA borrowers need to occupy over 50% of the building getting financed, and the cash flow from their business needs to be sufficient to cover debt service. But, SBA lenders are very good at figuring out how to make these deals work.
Please let us know if you need our SBA contact information. She is an excellent resource who can do all types of commercial financing.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646
