Commercial refinance cash out plus reno? Hard money? Long term?
Can anyone recommend a hard money lender or a lender that will do a long term loan on commercial properties with renovation funds on a refinance?
I have a commercial property with road frontage that's about 2,000 sq ft for food and beverage that needs about 100k worth of work and I have another small office that is paid off that needs about 20k to get finished. Ideally I would be able to refinance both properties into a long term loan.
Advice? Recommendations?
Thanks
There are companies that sometimes provide financing like Sundance Capital. They usually require you have a lease in hand with forward commitment from a strong regional or national tenant. They have various programs.
I’ll check them out but I doubt they have what I’m looking for.
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Local banking relationship may be able to help you with creative solutions. Tiny loans aren't easy for commercial.
I have the short term financing in place from a local hard money lender, but I need the long term money in place before I begin construction as I don't intend to sell the building any time soon. Anyone got any ideas?