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Eligible Building Types for Commercial Equity Loan


 

Standard property types and many non-traditional property types are eligible, including:

  • Office
  • Mixed-use
  • Retail
  • Warehouse
  • Multi-family residential 5 plus units

Most Common Eligible Special Purpose Properties
(Max 60% Combined Loan to Value)
  • Assisted Living Facility
  • Auto Repair Shop
  • Convalescent Home
  • Daycare or Preschool
  • Fast Food Restaurant
  • Gas Station <10 yrs old
  • Health Club or Gym
  • Mini-mart
  • Nursery (Horticulture)
  • Self-storage
  • Theater
  •  Some environmentally sensitive properties

Non-eligible Property Types Include:


  • Agricultural/Forestry/Orchard/Farm
  • Auto Wrecking/Auto Salvage Yard
  • Cemetery
  • Dry Cleaning Plant
  • Gas Station > 10 years old
  • Golf Course
  • Heavy Industrial
  • Hospitality (hotel, motel, B & B, condotel)
  • Mobile Home/RV Park
  • Non-Profit Organization
  • Vacant/Undeveloped Land
  • Time Share Property

Does your building fit within the program?  If yes, get started now on your commercial equity loan.  Or call to discuss at 248 885-8797.

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