Office is the asset class where lenders have moved the furthest, and a file that would have closed without discussion a few years ago now gets read line by line. The question is no longer only what the building earns today but what it costs to keep a suite occupied.
What the file turns on
Weighted average lease term, tenant credit and industry concentration, and an honest number for tenant improvements and leasing commissions on renewal.
Where deals fail
A pro-forma that renews every tenant at today’s rent with no downtime and no improvement allowance, and buildings competing against newer space on amenities they cannot match.
Smaller professional buildings
Owner-occupied and small professional office — law, accounting, insurance, engineering — reads differently from institutional office and is often the stronger file.
Our minimum loan is $200,000. We are a direct commercial lender working across the 43 states we serve, in business since 1998. We do not publish a rate for this product because the number depends on the file — call and we will quote the deal in front of us.
SBA loans · Commercial Lease Types and How They Change a Loan · Commercial lending · All loan types · All property types