Commercial Real Estate & Construction Financing
Mid Penn Bank provides commercial real estate lending services for individual borrowers, developers and investors. We also offer financing for construction of many different commercial property types.
Why Use a Commercial Real Estate Loan?
When you’re expanding your business, you need a financing plan that can grow with you. Commercial real estate loans enable business owners to build or purchase new properties for their businesses when they need them — not when they have enough extra cash on hand. Business growth requires financing options that can be tailored to your projects’ specific needs, and most commercial real estate loans offer a certain degree of flexibility for business owners.
If you’re a small business owner who plans to expand your business in the near future, it’s time to consider the benefits of commercial real estate loans. The price of commercial real estate space is incredibly high, and few small businesses are ready to pay the price out-of-pocket. To navigate commercial real estate purchases, qualifying commercial businesses in PA or NJ should opt for commercial real estate financing.
What Can Commercial Loans Be Used For?
Commercial loans can be used for the following purposes:
- To purchase commercial real estate space such as offices and retail stores
- To expand existing commercial real estate space
- For new commercial real estate construction
- For expanding existing commercial real estate property
Commercial construction and real estate loans are essentially used for purchasing new commercial property and expanding any existing commercial property. Even if you’re nowhere close to purchasing a new property for your business or expanding your current space, it’s important to learn the basics of commercial building construction and real estate loans in PA and NJ.
Peace of Mind Commercial Real Estate and Construction Financing
The reality is that commercial real estate development comes with unique challenges, risks and rewards.
When you’re building a hotel, shopping complex, residential area, or other commercial project, you need a valuable banking partner to understand the scope of your project and provide the best financing solutions. Our commercial real estate loans are made by local lenders who understand the region and our clients’ needs.
Additionally, Mid Penn Bank supports growing businesses that are seeking construction financing. You can be certain that our team of experts will provide financing at competitive rates, and most importantly, funding to carry you through the project’s completion.
How to Apply
To apply for a commercial real estate loan in PA or NJ, your business needs to meet the following qualifications:
- Your business needs to occupy at least 51% of the commercial space you want to purchase.
- You must be able to provide proper business documentation to apply, including up to five years of tax returns, financial records and reports, necessary state certifications, credit reports, a third-party property appraisal and documentation for how you plan to use the space for your business.
You can usually apply for a commercial real estate loan directly through Mid Penn Bank. Click on the Learn More button above to get connected with a financial professional to discuss your small business’s commercial real estate financing options.
Choose Mid Penn Bank for Your Construction Financing Services in PA & NJ
Whether you’re expanding your business across town or you’re looking to build on your current space, contact us today for commercial real estate development financing options for PA and NJ small businesses.