Commercial property can be used for many things. You can buy an office or entire building to run your small business from. You can purchase land and build a location for others to rent. Or, you might purchase multifamily homes for passive income. No matter your reason, commercial real estate loans are how you get there. They provide funding to qualified individuals to purchase property for commercial purposes. Applicants often need to prove they have a good credit history, steady income, and the ability to pay back the loan according to the specified terms. Here are some of the best commercial real estate loan companies in the United States.

Mid America Capital Group

Mid America Capital Group provides a variety of commercial real estate loans to investors. If you want to purchase several single-family homes with a blanket loan, a multifamily building, property for a small business, or need a loan to flip a house, there are many ways to secure funding for your project. Loans are offered with a range of amounts and interest rates based on your qualifications and needs. Our large network of lenders allows us to help you find the right loan for your unique situation.

Fora Financial

When you just need a little cash to get you through until you can secure a larger, permanent loan, Fora Financial is a great option. They offer loans from $5,000 to $500,000 to help you get started on a project over cover day-to-day expenses. Instead of traditional interest rates, they offer factor rates at 1.10% to 1.40%. This number, multiplied by your total loan amount, equals the amount you need to repay. These loans are typically repaid in about 16 months and are the easiest to qualify for. If you’ve been in business for at least six months, have $12,000 in gross monthly sales, and a credit score of 500 or higher, give Fora Financial a call.

Credibly

For those with fair credit, Credibly offers up to $250,000 commercial real estate loans. Repayment terms can be either 18 or 24 months, and interest rates range from 9.9% to 36%. This may end up costing you more than traditional bank loans, but the application and approval process is much faster. You can have confirmation in as little as 24 hours. If Credibly can’t offer exactly what you need, they also have a network of partners that may be able to get you up to $10 million. You’ll need to have been in business for at least three years, have a personal credit score of 600 or higher, and earn an average of $15,000 in revenue per month with $3,000 in the bank daily.

PNC Bank

If you are more established in the market, you might look at loans from PNC Bank. They often have better rates, but can take longer to qualify. You can get $100,001 to $3 million with fixed or variable rates. Repayment can last up to 10 years. Depending on what industry you work in, you may need to have at least three years in business. You should also plan to occupy the space you want to buy, have clear personal credit history as well as delinquency-free business history, and proof of profitability showing an upward or stable trend in revenue.

U.S. Bank

When you want to go with an experienced and trusted lender, U.S. Bank is there. They offer both SBA and traditional loans for owner-occupied properties. Due to their large size, most applicants can receive funding. Loans are typically signed with 5% to 7% interest rates, either variable or fixed. You can expect to make a down payment of 20% to 35%, but there is no limit to the amount you can borrow. It typically takes 30 to 45 days to receive funding, and five to 25 years for repayment. You should have a minimum credit score of 700, and at least one year in business.

JP Morgan Chase

Looking to invest in multifamily property? JP Morgan Chase is a nationwide lender that invests millions each year into commercial real estate projects, especially for multifamily, industrial, office, retail, and mixed-use properties. Depending on the type of project and its risk assessment, you can expect them to fund up to 80% of the total cost, with you putting in the other 20% as down payment. Interest rates can vary from 5% to 9% for up to $15 million for commercial properties and $25 million for multifamily buildings. It typically takes about 45 days to receive funding and repayment can last up to 10 years.

Wells Fargo

Experienced real estate developers or owners with large projects like to work with Wells Fargo. With them, you can get a loan up to $500 million at 5% to 10% interest. Typical down payments are 20% to 30% with the lender covering up to 80% of the property’s value. It can take four to six weeks to receive funding, and five to 10 years to pay back. This can be up to 20 years for larger projects. Personal credit scores are not as important since they prefer to work with experienced developers. Instead, they focus on past successes and the projected income of the financed property.

Bank of America

Smaller projects and renovations can often be covered by a loan from Bank of America. With options as low as $25,000, it’s much easier to manage the monthly payments over long repayment terms, and the interest doesn’t hurt your wallet as badly as with loans that are millions of dollars. You may even be able to start with a low interest rate for a limited time while you work on your project. This means you can get started sooner and make progress faster without a large debt payment hovering over you. Unfortunately, these loans come with strict requirements which means there’s a high rate of rejection. Make sure you have your financials in order before applying.