Our loans are fixed for up to 10 years and are generally amortized over 25 years; most of our products do not have balloons. We focus on traditional commercial mortgages and SBA 504 loans for owner occupied commercial properties but we do also offer commercial loans on low leveraged investment properties. We do not offer loans on raw land, or for the development of raw land. To qualify for a commercial mortgage with us, a typical borrower will have good credit and no bankruptcies in the past.
Unlike a traditional bank, we will give you an answer on your commercial mortgage request usually within 48 hours and without any cost or obligation. You will deal directly with an analyst at our company that presents your loan to the secondary market for purchase; we do not go through a middle man. This saves you time and money.
We offer loans ranging in size from $200,000 to $10.8mm.Conventional loan amounts range from $200,000 to $6mm. Our SBA 504 loan amounts range from $360,000 to $10.8mm.
Quick Fact about Griffin Capital Funding: We were ranked by Inc. Magazine as the 49th fastest growing financial services firm in the country for 2008
There are two types of commercial mortgages for real estate:
- Owner occupied commercial mortgage – For this type of commercial mortgage, the owner of the property will have his/her business occupying at least 51% of the available space in the building.
- Investment commercial mortgage – For this type of commercial mortgage, the owner of the property will have his/her business occupy between 0% and 50% of the available space in the building.
You can apply online here by answering a few basic questions regarding your commercial mortgage request. Once we review your request and determine that we would like to move forward we will request your tax returns and financial statements.
Our commercial mortgage process:
- We will analyze your commercial mortgage request and generally provide you an answer in 24 hours.
- We will provide you a written proposal that spells out the proposed terms of the loan; you sign and return the proposal.
- We will gather any remaining documents we need.
- We complete the formal credit write up and submit the commercial mortgage request to underwriting for approval.
- We order the necessary due diligence items like the appraisal and close the loan.
- World class customer service.
- 24 hour loan approval or decline.
- Great rates and terms.
- Quick loan closing.