The following are two types of loan programs that you’ll be able to choose from:
Conventional Commercial Loan
Ordinary, or conventional, commercial property loans have the option of either fixed or variable interest rates (usually only up to 10 years) and typically require at least 20% down payment from the borrower (you).
The SmartChoice® Commercial Loan
Considered by many lenders and borrowers to be the "Best-Kept Secret in the Commercial Loan Industry" SmartChoice® Commercial Loans offer below-market, long-term, fixed interest rates (up to 25 years), and require as little as 10% down.
Another perk of this unique loan program is that soft costs and closing costs can be rolled into the total project cost and financed (meaning you won't have to come out-of-pocket to pay for them). The lower down payment and below-market, long-term, fixed interest-rates make it much easier for many business owners
to acquire or build their commercial property.
There are advantages and disadvantages to each type of financing, and a good lender will be able to explain the best options for your particular situation.