Buying commercial real estate for your business could be one of the best investments you will ever make. Being in control of your property lets you call the shots. You decide how the property is used, who your tenants are, or when it is time to renovate. And there could be tax advantages, too. But knowing the best way to finance the property can be complex. A traditional mortgage or SBA loan offer different advantages based on a buyer’s specific needs. One of Savoy’s loan specialists can help determine what type of loan is best for your situation and tailor it to meet your goals.

SBA Loans Traditional Mortgage
Loan Size Up to $9 million Up to $5 million* (this varies by bank, but we focus on small giants and limit our loans to $5 million)
What can you use Loan funds on? For purchase of real estate , refinance your current mortgage, renovations, purchase of equipment. For purchase of real estate , refinance your current capital to grow you business, renovations, purchase of equipment and inventory
Terms Up to 25 years Up to 15 years
Benefits Your loan is guaranteed by the federal government, so getting approved is easier than a traditional loan. Lower down payments Typically lower closing fees than an SBA loan.
Considerations Usually higher upfront costs
Higher down payments, typically 15% to 35% down.
Financing We can fund up to 90% of the purchase or project costs. We can fund up to 75% of the purchase or project costs.

* Building must be 51%+ owner-occupied.

Call to speak with Savoy’s specialized loan team.