When you just can't find the perfect space for your business, it might be time to consider building it yourself. We offer commercial real estate construction loans to build retail stores, office buildings, manufacturing facilities, multi-family residences, storage facilities, plus much more. Reach out to us today to find out more about this low-cost option.
- Borrow funds up to a predetermined amount to acquire land and to construct owner-occupied buildings or investment property
- Interest-only payments on the outstanding balance
- Ability to convert to a permanent term loan when construction is complete
- Specific terms and conditions tailored to fit the individual needs of the business or investor
- Competitive rates and terms vary according to loan size and loan-to-value ratio
- Guidance lines of credit also are available to provide residential builders with funds to construct new housing
- Local decision-making and processing
- Detailed, attentive service from start to finish
Beneficial Ownership Requirements
All Sonabank business account holders will be required, due to regulatory reasons, to provide us with certain information on its Beneficial Owners.
This information must be provided on Sonabank's Beneficial Owner Form before a new account can be opened, or any changes can be made to an existing account.