Owner Occupied Commercial Real Estate Loans

Customizable loans for business owners who own or are looking to purchase their own commercial property

What is an Owner-Occupied Commercial Real Estate (OOCRE) Loan?

When you own a business, you need the right space to run it, whether you’re accommodating customers or patients, manufacturing products, or providing workspaces for your employees. Business owners often choose between leasing spaces or purchasing their own space in which to run their business.

Owner-occupied real estate (OOCRE) loans are designed to finance or refinance the purchase of property that will be used by the business itself. Because of this, OOCRE loans are looked at differently by lenders from financing for investment property. For an OOCRE loan, you may be required to put less money down, typically 10-20%, vs. 25% or more for investment properties. However, because OOCRE loans are taken out by the business itself, businesses will need to provide details of their complete financial picture for loans to be approved.

OOCRE loans can also be used for shared or partially leased commercial spaces, but to be eligible your business must occupy at least 51 percent of your building.
What are the different OOCRE loan options and what do they cover?
At Field & Main we offer both conventional OOCRE loans, as well as loans backed by the US Small Business Administration (SBA).

Conventional OOCRE Loans: Our traditional OOCRE loans can be used to purchase, improve, or refinance existing owner-occupied properties. These loans typically require a 20% down payment and can come with flexible term lengths and amortization periods to meet your business’s budget needs.

SBA 504 Loans: These loans are provided by Field & Main in conjunction with the SBA and offer financing options for businesses who may not qualify for conventional OOCRE loans. 504 Loans are meant for long-term capital requirements. With as little as 10% down, they can be used for the purchase of land or existing facilities, construction of new facilities, or the improvement of facilities, land, or other areas of the property including streets, parking lots, and landscaping. 504 loans can also be used to purchase other large assets including machinery and equipment, with term lengths ranging from 10 to 25 years.

SBA 7a Loans: Also offered by Field & Main and backed by the SBA, there are a variety of 7a Loans available for different short and long-term funding requirements. Standard 7a loans can be used for owner-occupied construction and real estate purchases, as well as other long-term working capital needs. With down payments as low as 15%, SBA 7a Loans can have terms of up to 25 years.

Why Get an OOCRE Loan with Field & Main Bank?

At Field & Main, 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, we continually strive 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 Today

Ready to take advantage of our competitive rates and dedicated, local service? Contact us for an owner-occupied commercial real estate loan or visit one of our convenient branches in Henderson, Cynthiana, Evansville, and Lexington.

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