In general, for a store will be pleased with the number of options available to them. Including conventional, SBA and a few CMBS programs.

One of the biggest components to store is whether or not the subject property offers . Basically any store that offers will be classified as a gas station and should seek under that category. As a side note, we happen to be working with a borrower who had his store in process. The over eager officer had it wrongly classified as store(not as a gas station). As soon as the appraisal company came out to the facility and reported its finding to the funding the was immediately declined. This of course wasted $5,000 for the borrower and 3 months of his time.

C-Store

In general, have three options for their c-store . Conventional, SBA and CMBS . SBA will normally provide the highest level of and some of the longest fixed rates for this building type. For example 85% to cost is common for stores. Fixed rates can be for as long as 10 years. Don’t let the rumors about the SBA process scare you off as the SBA has done a in the last 3 years to improve their process. You should be able to close your in 45 days.

Make sure however that whoever the funding is, that they hold the PLP designation. What’s important about this for you is that the will only have to be underwritten one time. Versus working with a that is not PLP you will have to have the deal underwritten once by the THAN by the SBA. That’s where the 75 to 120 days to close stories come from.

CMBS also have some very strong options, like 80% and rates fixed for up to 30 years, yes 30 years. However, due to the subprime mess many of these options have become limited or expensive. But it is still very much recommended that you research these options as they maybe a great for your situation.

Conventional , i.e. a regular from your local , will normally provide the best rates, however they will normally have the most conservative underwriting and weakest . Fixed period rarely exceed five years with shorter of 15 to 20 years for store .

Jeff Rauth is President of Advisors, out of Birmingham, Michigan. He specializes in between $100,000 - $5,000,000. Offers unique programs such as Second Mortgages, 30 Year Fixed, 90% non SBA , Equity . Call 248 885-8797 or visit commercial real estate loans or commercial loan brokers or rates.