Business Loans in Arizona
If your business is looking for an affordable Arizona mortgage loan, MC&I can help. We have a vast body of experience with business loans, and our team can help your company find a loan that meets your borrowing needs. MC&I issues business loans to companies throughout Arizona, including Tucson, Scottsdale, Phoenix, and Flagstaff businesses. We offer two primary types of business loans: commercial real estate loans and construction loans. Read on for more information about real estate financing and construction loans for businesses.
Commercial Loans – Real Estate Financing
We can help business and commercial property owners find the ideal loan programs for their needs. MC&I offers competitive rates and terms to both large and small businesses. A number of properties are eligible for our Arizona real estate financing, including multi-family developments, retail/office locations, warehouse/industrial buildings, mobile home parks, and more. Our lending territory includes a nationwide scope, so we can assist borrowers from all over the country. Though businesses must take out a minimum loan of $150,000 to qualify, MC&I has no maximum amount for business loans.
If you decide to obtain a business loan from MC&I, you will have your choice of loan terms ranging from 5-30 years. With regard to types of amortization, borrowers will have their choice of 25-, 30-, and 40-year options. Alternatively, borrowers may also build the loan to suit their unique needs. Our Arizona business loan programs offer standard options, such as ARM, balloon, and fixed-rate loans, as well as custom options. Our custom options include access to SBA and Fannie Mae programs. Eligible borrowers for commercial loans include individuals, corporations, partnerships, trusts, and LLCs.
MC&I has the resources necessary to issue Arizona construction loans for almost any situation. This type of business loan is one of our strengths, as we have a solid understanding of the building process and how to structure construction loans to benefit both borrower and builder. In the past, MC&I has closed on construction loans as small as $300,000 and as large as $5 million, so you can feel comfortable trusting us with your loan, whether large or small.
We offer a number of different construction loan programs, including one-time close construction loans, two-time close construction loans, owner-builder construction loans, spec-home construction loans, and no payments during construction loans. One-time close loans are ideal for borrowers who have a significant amount of equity in the project or a large down payment. With two-time close loans, the down payment requirements are much more reasonable, but the borrower must pay two sets of closing costs on two different loans.
If you would like to build a home in the Phoenix metro area without using a general contractor, then an owner-builder construction loan might be your best bet. Alternatively, if your business would like to build a home to sell, you can apply for a spec-home construction loan. On any of the aforementioned Arizona loans, your business can choose the no payments during construction loan option, which allows you to withdraw monthly payments from an interest reserve until the line item is depleted.