How to Get a Commercial Real Estate Loan
WHAT IS A COMMERCIAL REAL ESTATE LOAN?
Plumas Bank offers commercial real estate loans to help you purchase or refinance your owner-occupied commercial property. The difference between commercial real estate and residential real estate is that commercial real estate generates income and residential real estate is an owned residence. Commercial loans are primarily sized and underwritten based on an asset’s projected net operating income (NOI) – how the property will perform or how well it will generate income. Residential loans are underwritten based on the creditworthiness and income history of the individual purchasing the property.
Plumas Bank specializes in providing commercial real estate loans to a variety of industries and we have several financing options available for commercial property. Because Plumas Bank is an independent, locally managed community bank, loan decisions are made by experienced loan officers who are familiar with local economic and market conditions. Learn how to get a commercial real estate loan from Plumas Bank by contacting one of our knowledgeable loan officers. We welcome the opportunity to sit down face-to-face and discuss any and all business loan options available to you.
CONTACT A COMMERCIAL LOAN OFFICER
Preparation is key when applying for a commercial loan. Gathering certain documents ahead of time before you meet with a loan officer could help expedite the loan process. Here is a list of a few items to have on-hand before you meet with a Plumas Bank loan officer to apply for a commercial loan:
• Know the dollar amount, type of loan you are applying for, borrowing purpose and collateral information, if applicable.
• Information about your business, such as:
- Business name and address
- Type of business organization and year established
- Business tax ID number, annual sales, number of employees
• Information about each business owner, such as:
- Name, home address, social security number, title, ownership percentage, personal financial information, historical information
- Government issued photo ID (driver's license, US passport, or a state-issued ID) may be requested for verification purposes
• You may want to have copies of your most recent business and personal tax returns and/or financial statements to assist with the completion of the application.
Sometimes gathering all the information can be overwhelming but remember, our expert loan officers will help you and work with you every step of the way.
TYPES OF COMMERCIAL REAL ESTATE LOANS
Plumas Bank offers a variety of commercial real estate loans:
• Purchase or refinance loans for owner-occupied business properties
• Purchase or refinance loans for non-owner occupied qualified income properties
• Permanent and construction loans for multi-family of 5+ units
• Acquisition, development, and construction loans for commercial development such as office buildings, retail centers, and multi-use industrial
• Acquisition, development, and construction loans for residential projects, such as single- family tracts, planned unit developments, residential condominiums, and speculative single- family residential units for approved builders
• Land loans for approved developers
Any one of our experienced commercial loan officers can guide you through the process of determining which loan type is best for you. It’s easy to apply for a commercial real estate loan with the help of our knowledgeable loan officers. Contact a Commercial Loan Officer near you.
Plumas Bank offers a variety of owner-occupied and non-owner occupied or investor commercial real estate loans to suit a business owner’s needs.
GATHER DOCUMENTS FOR YOUR COMMERCIAL REAL ESTATE LOAN APPLICATION
Any one of our friendly and knowledgeable commercial loan officers will help guide you to determine which type of commercial real estate loan would work best for you based on your unique circumstances. Then, once you gather the required documents, the commercial real estate loan officer will also walk you through the loan application process from beginning to end. Getting a commercial real estate loan from Plumas Bank can help make the somewhat daunting application process so much more seamless and convenient! Plumas Bank is a preferred lender and a business owner’s partner every step of the way!
Some of the documents needed to start the commercial real estate loan process are listed below:
- Basic business information
- Business bank statements
- Personal and business tax returns
- Business legal documents
Please note: Plumas Bank may also ask to review your business’ creditworthiness and will review items including but not limited to your credit score, revenue, debt-to-income ratio, and more.
CONTACT A PLUMAS BANK COMMERCIAL LOAN OFFICER
Applying for a commercial loan with Plumas Bank is a great option for business owners. Because Plumas Bank is an independent, locally managed community bank, loan decisions are made by experienced loan officers who are familiar with local economic conditions. Commercial loans are made for a wide variety of purposes and on many different terms. Whether you’re just starting to grow your business, or you need cash to obtain equipment or build your inventory, or a line of credit for cash flow to ensure your employees are paid on time, our knowledgeable loan officers will listen to your needs and tailor the right lending solution to achieve your goals. A commercial loan from Plumas Bank can give you the stability you need to plan for tomorrow
You may wonder how to get a commercial loan from Plumas Bank. We believe the loan process can be made easier and more personal by contacting you directly. We welcome the opportunity to sit down face-to-face and discuss any and all business loan options available to you. Simply reach out to a commercial lender near you.
When you contact one of our friendly and knowledgeable commercial loan officers, they will provide you with a loan application along with a checklist of additional required documents. The loan officer will help guide you through the application process from beginning to end. Plumas Bank is a preferred lender and a business owner’s partner every step of the way!
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each customer that opens an account. What this means for you: when you open an account, we will ask you your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying information.
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