Commercial Real Estate Loan Florida
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Discover commercial real estate loans in Florida with the Working Capital Marketplace (WCMP)
Understanding commercial real estate loans options in Florida is important for not only investors but for business owners as well. Florida has seen rental rates continue to rise due to limited inventory. With the increasing population in Florida surpassing 22.6 million residents, the demand for commercial properties across various sectors such as multifamily, office, industrial, retail, self-storage, and hospitality continues to increase.
The importance of facilitating business growth and development through strategic financing cannot be overlooked in today’s economy. Commercial real estate lending programs offered to Florida businesses and beyond through WCMP, offer an essential capital blend, fostering expansion, innovation, development and financing strength. As Florida’s diverse economy thrives, utilizing such financing/lending options emerges as the preferred choice for sustaining and amplifying commercial real estate ventures.
The Benefits Of An SBA 504 Loan For Commercial Real Estate:
10, 20 and 25-year term options
Tax savings
Only 51% occupancy required
Loan amounts up to $5 million
Government Guarantee
Wondering Why Partner with The Working Capital Marketplace?
When considering commercial lending programs, WCMP Commercial is exactly what you need. If in Florida or elsewhere in the US, our team of experienced professionals understand the complexities within the commercial real estate sphere such as multifamily, office, industrial development, and retail properties. Leveraging this expertise, we craft financing solutions tailored to your specific objectives, be it in real estate and capital needs.
With a diverse range of financing and refinancing programs, we can work on various property types all while considering your capital requirements. At WCMP Commercial, we offer personalized guidance to understand your needs and objectives and connect you with the best lending options in the market to ensuring a smooth and seamless experience. Whether it be an acquisition, refinance, construction or bridge loans, we will be able to offer guidance and options.
Looking For Miami Commercial Real Estate Financing?
Apply for SBA 504 loans or other commercial lending programs available in the Florida and the USA today!
Loan Application Process
Comprehensive Business Plan
The loan application process for the Working Capital Marketplace Commercial begins with a comprehensive conversation with one of our consultants. Once we understand your needs, then we can work on our simple application, designed to provide our commercial real estate lending partners with vital information about the opportunity.
Lenders in today’s market will use the information such as: purchase agreements, previous construction or commercial real estate lending and borrowing experience to assess your creditworthiness and determine the loan term. A well-prepared submission package increases the chances of loan approval and helps the business secure the funding needed.
Financial Statements
Submitting financial statements and a business plan is essential, especially if the funding is for a development project. Financial statements and business plans provide a comprehensive overview of the business’s financial health and expected income.
Lenders analyze these documents to assess the company’s capabilities, profitability, liquidity, and ability for the repayment the loan. Accuracy and transparency are crucial for a successful application.
Borrowers may need to provide additional documents as needed along with their financing request.
Personal and Business Tax Returns
Providing personal and business tax returns is typically expected by the bank looking to approve and fund. These documents offer a comprehensive view of your financial standing to lender/bank.
You can expect a bank or private lender may want to analyze these returns to evaluate your ability to repay the loan and manage financial obligations.
Accurate and up-to-date tax returns and income statements demonstrate transparency and responsibility, instilling confidence in lenders/banks and improving your chances of securing the necessary capital for your business acquisition or development.
SBA Loan Commercial Real Estate
SBA 7(a) loan application process streamlines access to capital for businesses at a competitive rate. It’s designed to support various needs, including capital for purchase of real estate or refinance of loans. This program is a great option when looking for commercial real estate lending programs.
If approved, the SBA guarantees a portion of the financing, reducing the lender’s risk. This facilitates funding for businesses that may not qualify for money elsewhere. The SBA 7(a) loan application process is a resource for small businesses seeking capital for purchase or development of commercial real estate.
Collateral Information
Collateral information is important in securing funding. Collateral acts as security for lenders in case of default. This information typically includes assets such as properties, inventory, acquisition or equipment that borrower pledge to secure the loan. The property you are looking to purchase or refinance, or the land you are planning to do construction on will typically be sufficient collateral.
In commercial real estate lending the lenders assess the value and liquidity of these assets to determine the loan amount and interest rates. Documentation, including appraisals and ownership proofs, as well as rent rolls/property income, may be required. Collateral information increases the chances of lending approval.
However, borrower should be aware of the risk of losing pledged assets in case of loan default. Which is why for more complicated developments or a 2nd mortgage vs a refinance, money factor rates may be higher. Understanding collateral requirements is essential for a successful loan application.
SBA 504 Loan Eligibility Requirements
51% Owner Occupancy
To be eligible for an SBA 504 loan for the purchase or refinance of commercial real estate properties, borrower must adhere to strict owner occupancy requirements. The business must occupy a minimum of 51% of the rentable property within one year of ownership. Additionally, they’re permitted to sublease up to 49% of the space.
The applicant must occupy 60% of the rentable property and may lease out 20% permanently to a third party within the financing term. Furthermore, they can temporarily lease an additional 20%, with the condition of utilizing some of it within 3 years and all within 10 years. A real estate holding company may be formed to lease 100% of the operating business, which can then sublease surplus space, capped at 49%.
Tangible Net Worth Of Less $15 Million
The next eligible criteria for an SBA 504 loan for commercial real estate properties is that businesses must include a tangible net worth of less than $15 million. This requirement ensures that the program primarily assists small businesses in obtaining financing for the purchase, construction financing, or improvement of fixed assets.
This criterion aims to target businesses that may face challenges accessing traditional financing options with fixed interest rates due to their size or asset base. By meeting this threshold within the loan term, businesses can access vital commercial real estate lending funding through the SBA 504 loan for commercial real estate properties.
Net-Profit Below $5 Million
To qualify for an SBA 504 loan for commercial real estate properties, businesses must meet certain eligibility criteria of net profit below $5 million annually. Additionally, they must be for-profit entities, operate primarily within the United States, and demonstrate the ability for repayment of the loans.
Eligible projects typically involve the acquisition of property, construction financing, purchase of equipment, or improvement of fixed assets, such purchase of real estate or equipment. The business must also occupy at least 51% of the property financed by the loan. Meeting these requirements opens the door to acquiring favorable financing solution through the SBA 504 loan program.
SBA 504 Loan Eligibility Requirements
Purchase of an existing acquisition/building, real estate, retail or land development for new and currently owned properties.
Construction and expanding of new business facilities.
Renovating or modernizing fixed assets facilities.
Converting existing business facilities.
Purchase of equipment for long-term business use.
Refinancing debt connected to expanding business.
SBA 504 Loan Eligibility Requirements
Working capital
The purchase of inventory
Consolidating debt
Repayment of debt
Re-financing debt not connected to business
Explore Your Small Business Loan Possibilities
Tips for a
Successful Application
Be transparent and accurate.
Have bank statements ready.
Understand your use of funds and plans.
Reviews
What Customers Say?
Sylvester Henderson2024-03-12Great business they will help your business CHRISTIAN IS GREAT
New Horizons Construction LLC David Robertson2024-02-23Easy to work with.
Butch G2023-09-21Amazing experience with this company. They walked me through my entire funding process start to finish and got me the terms they said they'd deliver. I'm grateful for the high level of integrity from Marcos, Ari and the rest of the team. I appreciate the level of professionalism they invest in their service. I would highly recommend to small business owners and investors alike!
Gabriela Figueroa2023-08-15Quick funding and friendly, informative service. Will absolutely be a returning customer, thanks Team!
Melissa Mandarich2023-02-06Recently worked with Ari and Marcos on a complex transaction and it was as smooth as it could be with these two. Great to work, highly recommend.
Tanner Cohen2023-01-11I worked with MCU Consulting LLC which is under the Working Capital Marketplace umbrella and i couldn't have been happier with the loan process! Ari and Marcos are true processionals who understand my needs as an investor, the time crunch to close, and are easy to talk to and work with. I highly recommend working with them if you are looking for a broker who can help you close quick and seamlessly! Thanks for all your help guys!
