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    Commercial Financing

    Making sure your business has a face to the public is important to reaching your audience closely and professionally. Experienced New Jersey commercial financing specialists at First Equity Mortgage in Sea Girt assist Middlesex, Ocean and Monmouth County businesses in getting their company on the map.

    For your company’s first physical location or your fifteenth, NJ commercial financing professionals work to help you secure the most appropriate loan for your project:

    Mixed use properties

    Mixing building purposes have long been a tenet of commercial properties. It is not unusual for a New Jersey business to rent out a second-level apartment to capitalize on property space and investment. But mixed-use developments can be more than just business on the bottom, living space on the top – a mixed-use property can mix commercial with residential, historical, cultural, instructional or industrial activity. Obtaining a mixed-use property can be a great way to maximize your property investment, so contact First Equity to discuss your options.

    Purchase and refinancing

    Owning your building outright can feel like a badge of honor for any business owner. We can work with you to secure the office space of your dreams with a mortgage that fits your budget and your long-term plans.

    With mortgage loan rates as low as they are, current NJ commercial property owners may want to consider refinancing their loans to net a lower rate, shorten or increase the duration of the loan, or changing the type of loan. You might also consider a 203K loan for your existing commercial property to free up funds to expand your grounds or to create a mixed-use property by adding a residential component.

    Construction loans

    Your New Jersey commercial property should reflect your business fully and accurately. You may expect that the space you purchase for your company may require some design work to get it where you want it – and a construction loan may be right for you. We work with banks in Monmouth, Middlesex and Ocean counties to help you get approved (which may require some credit repair work) for the best rates and loan terms for your commercial construction project. And by bringing First Equity into the picture before you start looking, we can help you determine your budget for the property spend and the following construction work.

    Learn more about construction loans in NJ.

    Apartment complexes

    If the building you have your eye on holds more than four units, that structure qualifies as a commercial property as an apartment complex. Owning an apartment complex is a great way to make money, for owner-occupied or investment purposes. First Equity makes it easy to buy or refinance apartments in Monmouth County, Ocean County and Middlesex County through various loan options. You may be able to assume the property mortgage from a previous owner or if starting fresh you can choose from a loan term of 5 – 30 years. You may, however, need to meet a few criteria to qualify for your loan:

    • Good credit
    • A 20% down-payment may be required
    • Personal and current assets of up to six month owning and operating costs
    • History of owning and operating multi-family properties

    Contacting First Equity early can help you secure the commercial property management loan you need.

    Land loans

    If you’re looking for a more custom commercial property in New Jersey, buying an existing office building may not be the best option for you. When you buy a piece of land, you have the ability to build a brand new commercial space, designed to suit your wants and specs, that represents your company all on its own. First Equity mortgage can assist you with any land loan that works for you:

    • Land purchase loans – separate from a building loan, you can pay off your land before breaking ground
    • Land development loans – purchasing large tracts of land and breaking it off for smaller individual sales can potentially net a lot of profit
    • Land equity loans – Own the land for your future commercial site? You can use the equity in that land as a down payment for the development of your new building
    • Lot loans – for those not financially ready to begin building right away
    • Vacant land loans – if you have your eye on the land you want and it’s already been cleared and flattened, a vacant land loan can help you get closer to putting your business on the map
    • Undeveloped land loans – riskier than vacant land loans, undeveloped land or “raw land” loans can be a steal, once you are able to obtain the property. We can help.

    Many of these options, including land purchase loans, may be coupled with construction loans as well. Ensuring you are able to pay for your land and your future is critical, so contact us when you are considering a lot or land loan in NJ.

    Strip malls, offices and retail spaces

    There are few investment pieces more robust or with more earning potential than a strip mall or office building. If you are purchasing an office or retail space and there are options to break the property into smaller units to sell or lease, you can maximize your property ownership.

    Several commercial properties and mixed use properties are for sale in New Jersey, and a strong mortgage consultant at First Equity can help you hone in on the rates and terms that work for you.

    Small Business Association (SBA) lending

    Of the various loans available to you, a 7(a) loan from the SBA has some of the most flexibility for you to put your business on the map. You can use the proceeds from this loan to buy a new or buy another commercial property, depending on your company’s needs. For businesses already operational and looking to expand, a 504 loan may be your strongest option. Finance 90% of your loans and use the funds for buying your new commercial property and the equipment you need to fill it.

    The application and qualification process can be tricky, but our experienced New Jersey commercial financing experts can help you ensure all your documentation and your written proposals are in order when applying for an SBA loan. There may even be an express option available to you.

    Hard money lending

    If you have to move quickly to close your new commercial property deal and you may not have the personal credit history to do it, hard money lending could be your answer. These quick-turnaround loans can secure the money you need very quickly and base the value of the loan not on your credit history but on the merits of the real estate property to be purchased. Many commercial hard money lenders also afford the option of addition additional collateral to the loan, such as other assets, commercial properties or residential properties. While you may not have to jump through the same hoops as in the traditional bank route, it is important to know that loan terms are typically shorter and interest rates higher, so this loan is better for those who know they will have the money to repay sooner rather than later.

    With so many options of financing your commercial space, trust the mortgage experts at First Equity to secure the loan that’s right for your company. Please call or email us today to get started!