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Commercial Construction Loans
Commercial construction loans
Get low construction loan rates and flexible terms with a commercial construction loan from Mountain America. Our team of experts can guide you through the process of working with city planners, contractors and architects.
Benefits of a commercial construction loan
- Finance commercial buildings from $250,000 to $2,000,000
- Construction of office, industrial, warehouse, retail or multi-family properties
- Includes a standard minimum equity requirement of 25%
- Up to 25-year amortization, 10-year call, 5-year rate adjustment on financing following construction period
Apply today
Finance your business property with a commercial construction loan from Mountain America. Contact a business loan representative to get a loan rate quote or to answer any questions you might have. You can also visit your nearest branchor call 801-325-6550 to apply.
Schedule appointmentCommercial construction loans FAQs
Is it hard to get a construction loan?
Commercial construction loans tend to have higher qualifying standards, as money is being lent for a project that is yet to be built.
The borrower will need to:
- Provide a detailed description of the project
- Have a qualified builder
- Provide the minimum down payment
- Prove their ability to repay the loan
- Have the property value appraised
What is the average interest rate on a construction loan?
On average, the interest rate on a commercial construction loan is anywhere from 4% to 12%.
Do you have to put money down on a construction loan?
Typically, a 20% down payment is needed for a construction loan. Some lenders may require as much as 25%.
How much does it cost to build a small business building?
There are many factors that can affect the cost of a business building, such as location and quality of infrastructure. On average, it will cost about $16 to $20 per square foot of the commercial building.
Commercial Real Estate Loan
