Commercial Loans
About
Buckingham Mortgage is recognized for its residential loan financing, but our capabilities reach further into the commercial sector. We have established a specialized commercial financing division, forming alliances with a network of seasoned, reliable, and expertly trained commercial lending partners. Our mission is to simplify the lending process for our clients, removing complexities and providing smooth financial solutions.
Our commercial lending offerings are varied, including standard loans for hotels, motels, and commercial office buildings. We also extend specialized financing for a range of properties such as multi-purpose buildings, office warehouses, industrial sites, retail establishments, and healthcare facilities including medical and dental practices. Choose Buckingham Mortgage for comprehensive and dedicated commercial financing support.
- Minimum Property Value $500,000.
- Minimum Personnel Fico of 680.
- Loan term of 25 years.
To proceed with a commercial financing application at Buckingham Mortgage, applicants are required to submit the following documents: a Blank Resume, a Personal Financial Form, and, where relevant, a rent roll. We have made these forms available for your convenience to facilitate a smooth and efficient application process. Our aim is to ensure that your financing needs are met with the least possible inconvenience.
Loan Request Summary
Provide details regarding loan amount requested, tell us about the specific purpose of loan proceeds, detailed
sources and uses of funds and proof of liquid assets to close the proposed loan request along with evidence of
post-closing liquidity. None of the loan proceeds can be used to retire local, state or federal tax liens.
Borrower Financial Packet
For any Member owning 20% or more the business supply following information:
- Their most recent three years personal tax returns
- Current Personal Financial Statement (you can use a FNMA 1003 for now)
- Current credit report with Experian FICO credit scores of not less than 700. No prior bankruptcies.
Business Financial Packet
For the operating company (business) supply the following information:
- Most recent three years business tax returns.
- Current non-audited year-to-date P&L with balance sheet dated within sixty (60) days of application.
- Current Schedule of all business debt. If refinance, provide a detailed list of debt that will be retired along with a list of continuing business debts.
SBA Loans
SBA LOANS. SBA 504 and SBA 7 (a)
For a potential SBA504 folder please see the enclosed preliminary checklist below:
1. From the borrower (This is anyone who will own 20% or more of the Operating Company or Holding Company):
- 1A. Current Personal Financial Statement (See attached).
- 1B. Current Resume (See attached or they may provide their own)
- 1C. Copy of current Credit Report
- 1D. Previous 3 years personal tax returns
2. If this loan request will involve an owner user business, we would like to review the following:
- 2A. Provide previous 3 years most recent business returns.
- 2B. Provide Current year to date profit and loss with balance Sheet for the business.
- 2C. Provide a current Business debt schedule for the business (See attached)
- 2D. Provide offering memorandum / any listing agreement.
- 2F. Provide a copy of the sales contract.
SBA7(a) Loan Program Notes:
MedicalSBA7(a) Loan Program Notes:
Medical and Professional Program:
- 1. Borrower able to finance up to 100% + of the total package (total package includes: purchase or refinance of real estate, equipment purchase, tenant
improvements, closing costs, advertising costs, financing the SBA guarantee fee and working capital) - 2. Loan Limits – $800,000.00 to $5,000,000.00
- 3. Owner occupied real-estate secured and leasehold commercial properties.
- 4. All real estate secured loans are fully amortized up to 25 years. Any leasehold improvement loan will provide a maximum 10yr amortization and Professional Program:
At Buckingham Mortgage, we recognize the intricate nature of Small Business Administration (SBA) loans and their critical role in the advancement of small businesses. Although the process can be complex, our dedicated commercial department is committed to demystifying SBA loans for our clients. We encourage prospective borrowers to reach out to us for personalized guidance and to ascertain their eligibility for an SBA loan. Our team is here to assist you every step of the way in securing the right financing to propel your business forward.
Construction Loans
Buckingham Mortgage presents a premier program designed to streamline the financing process for land acquisition and construction. Our One-Time Close loan program offers an efficient solution, combining the phases of construction financing and permanent mortgage into a single transaction. Eligible borrowers can access up to 95% loan-to-value (LTV) financing, with loan amounts reaching as high as $2 million. Embrace the simplicity and convenience of securing your project’s funding with Buckingham Mortgage’s expertly crafted financial services.