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Commercial Real Estate & Construction Loans

When it comes to real estate, local expertise matters. Many of our commercial lenders grew up in Northern Virginia or have lived here a long time. We are proud to offer personal service with a hometown touch.

Contact a Commercial Lender

 

If you’re looking for a commercial real estate loan, commercial mortgage, or commercial construction loan, visit your nearest TFB branch in Prince William County (Manassas, Haymarket, Bristow, Gainesville) and Fauquier County (Warrenton, The Plains, New Baltimore, Catlett, Bealeton).

What is a commercial real estate loan?

Commercial real estate financing provides a mortgage loan for income-generating (commercial) property. CRE developers, small business owners, and other investors can use a commercial property loan to purchase office space, apartment buildings, retail space, hotels, and more. You can rent out the entire commercial space, or use some or all of it for your own enterprise.

What is a commercial construction loan?

Sometimes the perfect commercial space can’t be purchased; instead, you have to build it. Commercial construction (or “build”) loans provide short-term financing to cover the costs associated with site preparation and construction for your commercial real estate project. Make interest-only payments while the property is under construction. Then, you will need to refinance the build loan into a long-term commercial mortgage. Luckily, this usually happens right as your commercial building becomes move-in ready. Thus, commercial construction loans make it affordable to build new commercial properties because monthly payments are lowest when the property isn’t generating income.

How do commercial mortgages work?

Rates and terms vary according to the project and the borrower’s financial situation. In general, commercial real estate loans generally have shorter terms than residential mortgages. They may consist of “balloon loans,” in which you make lower monthly payments for the loan term, ending in a final “balloon” payment of the remaining balance. At TFB, our friendly and experienced CRE lenders partner with you to create a CRE loan that fits your needs and budget.

Qualifying for a Commercial Real Estate Loan

When it comes to commercial lending, it’s important to work with a local, experienced financial institution. Throughout our long history in Northern Virginia, TFB has been proud to support CRE developers and investors. We know that thriving communities start with thriving commercial districts.

At TFB, you can expect straightforward banking with no surprises. That’s why the commercial real estate industry in Prince William County and Fauquier County turns to TFB to get their projects off the ground.

Intimidated by the commercial real estate lending process? Our friendly team of business lenders will help you every step of the way.

Here are a few things you will need to get started:

  • Business Organizational Document
  • Last 3 years of Business Financial Statements and Tax Returns, Including All Schedules
  • Current Interim Business Financial Statement
  • Report of Accounts Receivable and Payable
  • Last 3 years of Personal Tax Returns for Owners of the Business, including All Schedules
  • Current Personal Financial Statement for Owners of the Business
  • Commercial Real Estate Transactions: A Copy of Sales, Land, and Construction Contracts
  • Business Startups: A Business Plan (including Proform Financial Information) and a Market Feasibility Study

For more information on starting the business lending process, contact our team.

Contact our Business Lending Team Today!

Ready to start the application process for a commercial real estate loan? Want to learn more about commercial mortgages and construction loans? Visit our Commercial Lenders page to meet our team and check out our Business Loans page for a full menu of commercial lending and small business loan options. Our TFB Commercial Lenders will take the time to thoroughly understand the financial needs of your business.

Call the Fauquier office for an appointment at 540-347-2700 or email us. You can also call the Prince William office for an appointment at 703-366-1600 or email us.

*All loans are subject to credit approval.

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