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This young investor wanted to invest in the family business in an unconventional way. He knew one day, he would be given the keys to the 50-year old, family-run insurance business, currently led by his father. As his first investment in his future, he decided to purchase the 2-unit office condo to lease back to the family business until it came time for him to take the reigns. Because it was technically a future owner-occupied business and a Triple-Net (NNN) lease, we were able to secure him a 10/25-yer conventional loan at a great rate of 6.35% – and close the loan in 3 weeks!
The takeaway? We can give special considerations to family members and employees looking for business acquisition loans or commercial real estate transfers. Unlike other banks and lenders, we look at the core of the deal to identify strengths and capitalize on those. If you’re looking to move into the family business or if you are looking to help your boss retire, submit your loan details using our fast, no-document Loan Finder tool or simply call us at (888) 959-1648. Remember, there’s no risk or obligation to explore your options.