Are you looking for a way to finance your commercial real estate project in Texas? Whether you want to buy, build, renovate, or refinance a property for your business, you need a reliable and experienced partner who can help you navigate the competitive world of commercial real estate. Fortunately, if you’re reading this, you are in the right place. Contact a dedicated Texas commercial real estate financing lawyer from PropLaw for assistance today.
Real Estate Financing Lawyer | Here to Protect Your Interests
Commercial real estate financing is the process of taking a loan for the purchase, renovation, or development of property that will be used for business operations. Commercial real estate loans serve a wide variety of businesses–ranging from start-ups to large corporations–so the degree to which they can vary in cost and structure is no surprise. A dedicated Texas commercial real estate lawyer from PropLaw is here to listen to your goals, tailor a financing strategy to your needs, and make those goals a reality.
Types of Loans
The type of commercial real estate loan you require will depend, in large part, on the specific goals you have. That said, some of the most common types of commercial real estate loans are as follows:
- Conventional commercial real estate loans: These are offered by banks and other lenders, with terms ranging from five to 30 years, interest rates as low as three percent, and a minimum down payment of up to 20 percent.
- Commercial bridge loans: These are offered by various lenders as a means to bridge the financing gap until longer-term financing is found; terms usually span up to two years, with only a 10 to 20 percent down payment often required.
- SBA 7 (a) loans: Guaranteed by the Small Business Administration (SBA), these loans can be used for various purposes, including purchasing or refinancing commercial real estate–up to $5 million over a max term of 25 years.
- SBA 504 loan: Also guaranteed by the SBA, these loans comprise both a Certified Development Company (CDC) loan portion for up to 40 percent of the loan balance, plus a bank loan for up to 50 percent of the loan balance. The collective maximum balance is $5 million.
How We Can Help You With Commercial Real Estate Financing
PropLaw can guide you through every facet of financing your commercial real estate endeavor, including the following:
- Evaluating your options: We can help you compare different types of commercial real estate loans and find the best one for your situation and goals.
- Negotiating the terms: We can help you negotiate favorable terms and conditions with lenders, such as interest rates, fees, and more.
- Reviewing the documents: We can help you review and understand the legal documents involved in commercial real estate financing, such as loan agreements, deeds of trust, security agreements, and more.
- Closing the deal: We can help you finalize your commercial real estate transaction and ensure that all legal formalities are met.
Contact a Commercial Real Estate Financing Lawyer Today
If you are looking for a trusted and professional Texas commercial real estate lawyer who can help you with financing your commercial real estate project, simply contact PropLaw today.