Commercial Mortgage Loans
When you want to expand your office space or purchase property for your business, Midwest Bank can help with a commercial mortgage. You can borrow up to $500,000 at competitive rates and flexible terms. Our financing options are competitive, with a maximum advance rate of 80% for purchase and refinance transactions, fixed-rate options up to five years, and repayment schedules up to 25 years.
Requirements:
- Completed Business Loan Application and personal financial forms for all owners/partners with 20% or greater interest in the property
- Signed copies of your business and personal tax returns for the last two years
- Latest business interim financial statement
- Copy of the sales contract (for property acquisitions)
- Copy of latest appraisal, if available (for refinancing)
- Copy of rent rolls and leases (for investment properties)
- Good credit history
- Ability to demonstrate sufficient cash flow and continued earnings to service your debts
- Summary of management's experience in the industry
