Commercial Real Estate Financing Petoskey MI

Looking for Commercial Real Estate Financing in Petoskey? We have compiled a list of businesses and services around Petoskey that should help you with your search. We hope this page helps you find Commercial Real Estate Financing in Petoskey.

Mr. John S. Marshall Jr., CFP®
(231) 348-2516
435 Madison Street
Petoskey, MI
Firm
Crooked Tree Capital Advisors
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Investment Management, Retirement Income Management, Risk Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000



Data Provided By:
Mr. James B. Carano, CFP®
(231) 237-9715
04755 Lakeshore Dr
Charlevoix, MI
Firm
Meridian Advisory Services LLC
Areas of Specialization
Investment Management, Investment Planning, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided By:
Fifth Third Bank
(231) 439-8500
Petoskey Downtown, 300 East Mitchell
Petoskey, MI
Office Hours
M-F 9-5; SA 9-12

Fifth Third Bank
(231) 582-0440
Boyne City, 102 S. Lake Street
Boyne City, MI
Office Hours
M-F 9-5; SA 9-12

Chase Bank
(231) 526-6243
7645 S State Rd
Harbor Springs, MI
Type
Freestanding
Office Hours
Mon:9:00-5:00
Tues:9:00-5:00
Wed:9:00-5:00
Thurs:9:00-5:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

Mr. P. Scott Nofsinger, CFP®
7818 Cemetery Rd
Harbor Springs, MI
Firm
P. Scott Nofsinger, CFP
Areas of Specialization
Charitable Giving, Estate Planning, Insurance Planning, Long-Term Care

Data Provided By:
Mr. John E. Doskoch, CFP®
(231) 547-9759
13591 N Forest Dr
Charlevoix, MI
Firm
John E. Doskoch
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000



Data Provided By:
Chase Bank
(231) 348-6251
677 W Mitchell
Petoskey, MI
Type
Drive-up
Office Hours
Mon:9:00-5:00
Tues:9:00-5:00
Wed:9:00-5:00
Thurs:9:00-5:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

Chase Bank
(231) 582-6595
1153 M-75 S
Boyne City, MI
Type
Freestanding
Office Hours
Mon:9:00-5:00
Tues:9:00-5:00
Wed:9:00-5:00
Thurs:9:00-5:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

Edward Jones
(888) 891-1446
930 S State Rd # 20
Harbor Springs, MI

Data Provided By:
Data Provided By:

Commercial Real Estate Financing - Where To Get It And How

Purchasing property that will be used for your business is, in most cases, the biggest startup expense business owners have. There are several ways, and numerous places to obtain commercial real estate financing , whether you are buying an existing building, purchasing land and constructing a new building, or buying and remodeling an existing building to meet your businesses requirements.

Common sources for commercial real estate financing are banks, savings and loans, mortgage companies, venture capital firms, and even insurance companies. You can also obtain financing through the Small Business Administration through their 504 loan program, which was designed for small business commercial real estate financing , and offers a low down payment, low fixed-rate interest, 20 year terms, and steadily decreasing fees through a partnership between banks and non-profit development companies. There are also firms that specialize in finding commercial real estate financing for their clients. These firms do not provide the financing; they simply work to find the financing for their clients, for a fee.

Start with the Small Business Administration. The SBA is in the business of helping small business owners. Therefore, they work to make things less complicated for their clients. If you fail to get a commercial real estate loan through the SBA, you should strongly consider hiring a firm to help you find the financing you need. The time and effort that you will save are greatly worth the fees that will be required. These firms can be easily found by doing a search on the Internet for " commercial real estate financing ."

Documents that will be requested by the potential lenders will be your business plan, financial statements for the last five years, federal income tax returns for the last five years, articles of incorporation (if you are incorporated), and your business licenses. The lenders will also want as much documentation as possible on the real estate.

If you are purchasing land to build on, the lender will want the specifics in regards to the land, including the price, as well as blue prints and construction costs for the building. A common problem that many business owners face when they obtain financing for the construction of a new building is that they do not apply to borrow enough funds for the completion of the building. That is why it is best to have the blueprints drawn up, and to get estimates from three or four construction companies first. This is also true if you are planning to remodel an existing business.

For existing buildings that will not need to be remodeled, provide the lender with documentation concerning the dimensions, the age, and the condition of the building, as well as the seller's asking price and contact information for the seller or realtor. Many lenders will require that the building be inspected by a professional and that you provide them with a report of the inspector's fi...

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