Commercial Real Estate Loans
Buy, Build, or Refinance.
Whether you’re looking to expand your business or purchase an income-generating property, we can help. Take advantage of our dedicated local service paired with competitive rates when you work with Field & Main for your commercial real estate lending needs.
What is a Commercial Real Estate Loan?
Commercial real estate loans are used to purchase commercial and large multi-family residential properties. This includes owner-occupied commercial real estate loans for business properties your company intends to use, as well as loans for income-generating properties purchased for commercial or residential lease.
Commercial real estate loans can be used to buy:
- Commercial Land
- Industrial Properties including manufacturing facilities and warehouses
- Restaurant, Hospitality, and Retail Spaces
- Office and Medical Office Space
- Multi-family Properties with more than four units
- Mixed-Use Commercial and Residential Buildings
How does a Commercial Real Estate Loan work?
Commercial real estate loans are similar to conventional home loans in that they will require a credit check, income verification, and down payment, but because of the scale of many commercial loans, they tend to have stricter lending requirements.
Most commercial real estate loans have a required down payment of around 25%. Terms for commercial real estate loans are often shorter than mortgages, ranging from 5 to 20 years. Loans can either have a fixed or variable interest rate.
Additionally, amortization for commercial real estate loans may be longer than the term of the loan. This means that at the end of the loan, you may be required to make a lump sum payment to pay off the remaining balance, using cash or by refinancing the loan. These longer amortization schedules can work to your benefit, keeping monthly payments affordable.
How do you apply for a Commercial Real Estate Loan?
To apply for a loan, you’ll typically need to have:
- Business incorporation and license documents if purchasing property for a business
- Documentation of length of time in business if purchasing property for a business
- Down payment
- Good to excellent individual or business credit score
- Financial statements that document sufficient personal or business income
Why Get a Commercial Real Estate Loan with Field & Main Bank?
At Field & Main Bank, our lenders live and work in the communities they serve and are dedicated partners in the success of your business. With Urgency & Care that you would expect from your local trusted advisor, Field & Main Bank continually strives to meet your small business banking needs. We offer exceptional accessibility and availability, before, during, and after your loan closes, with direct lines of communication. And because we’re based right here in Central Kentucky, Western Kentucky, and Southern Indiana, you can take advantage of fast, local decision-making and in-person, one-on-one assistance, when you need it most.
Apply for a Commercial Real Estate Loan
Ready to take advantage of our competitive rates and dedicated, local service? Contact us to apply for a commercial real estate loan or visit one of our convenient branches in Henderson, Cynthiana, Evansville, and Lexington.