Bridge and permanent financing for commercial property purchases and refinances.
Commercial real estate takes many forms, and so does the financing behind it. Belsky Mortgage arranges bridge loans and permanent loans for commercial property purchases and refinances, matching each deal with the right type of lender, from private capital to agency and institutional lenders. Through our capital partners we also arrange Agency Multifamily (Fannie Mae and Freddie Mac), SBA, and HUD commercial loans.
Commercial real estate financing covers loans on properties used for business or income purposes, such as apartment buildings, retail centers, offices, warehouses, and hotels. Unlike residential loans, commercial loans are structured around the specific property, the borrower’s business plan, and the deal itself, so terms vary widely by property type and by lender.
Because every deal is different, we start by understanding your goal and then source the financing that fits it. Most commercial requests fall into two categories: bridge loans and permanent loans.
A bridge loan is short-term financing that gets a borrower from one point to the next, whether the plan is to sell or to refinance into a permanent loan. Common uses include:
For bridge loans, we work with private money lenders, hedge funds, family offices, REITs, and investor pools.
A permanent loan is long-term financing, typically for a stabilized property with established income. For permanent loans, we work with agency commercial, institutional, and private lenders.
Common permanent loan products include:
Belsky Mortgage has direct access to these capital sources. We are not a correspondent and do not use broker chains.
| Feature | Bridge loans | Permanent loans |
|---|---|---|
| Purpose | Gets a borrower from one point to the next: acquisition, lease-up, value-add, or a bridge to a sale or permanent loan | Long-term financing for a stabilized property |
| Lender sources | Private money lenders, hedge funds, family offices, REITs, and investor pools | Agency commercial, institutional, and private lenders |
| Leverage | Up to 85% loan-to-cost (LTC) | Up to 80% loan-to-value (LTV) (SBA up to 90% LTV) |
| Recourse | Recourse, limited-recourse, and non-recourse options are possible on all programs, depending on the scenario | |
| Typical timeline | About 2–10 weeks | About 6 weeks–10 months |
Terms are indicative of what may be offered and are not guaranteed. Leverage, pricing, and timelines vary by property type, loan size, location, borrower, and lender.
Commercial lending works differently from residential rental loans. A commercial loan is not a “DSCR loan.” Debt service coverage ratio (DSCR) is one factor in qualifying, not the primary method, and it is calculated from net operating income (NOI) rather than gross rents. EBITDA-based cash flow is also becoming more common for operating businesses.
Lenders typically review:
Looking for a 1–8 unit rental property loan qualified mainly on rental income? See our DSCR loans.
This is not a complete list. If your property type is not listed, contact us and we will review your scenario.
Purchase loans help investors acquire commercial property, whether through a bridge loan on a property that needs work or lease-up, or permanent financing on a stabilized asset.
Refinance loans replace existing debt with new financing, such as moving from a bridge loan into permanent financing once a property is stabilized, or refinancing a property you already own.
Many of our capital sources allow non-owner additions to the capital stack, which can reduce the cash a borrower needs to bring to closing or help a deal pencil. Common examples include:
Availability depends on the property, location, and lender. Reach out to us or call or text (817) 505-5812 to discuss how these options could work for your deal.
Here are two recent commercial transactions, one bridge loan and one permanent loan. Property addresses are withheld for client privacy.
Examples of past transactions only. Terms vary by lender, property, and borrower, and past results do not guarantee future terms.
We finance a wide range of commercial collateral, including apartment buildings and complexes, mixed-use buildings, warehouses, office buildings, retail, restaurants and bars, hospitality, self-storage, automotive, medical buildings and care facilities, raw land, developed land, and houses of worship. This is not a complete list, so if your property type is not listed, ask us.
A bridge loan is short-term financing that carries a borrower from one point to the next, such as acquiring a property, completing renovations, or leasing it up to stabilization, before selling or refinancing into long-term debt. A permanent loan is long-term financing, typically for a stabilized property. Bridge loans come from private money lenders, hedge funds, family offices, REITs, and investor pools. Permanent loans come from agency commercial, institutional, and private lenders.
Debt service coverage ratio (DSCR) is a factor in commercial underwriting, but it is not the primary way commercial loans are qualified, and a commercial loan is not a “DSCR loan.” Commercial DSCR is calculated from net operating income (NOI), not gross rents, and EBITDA-based cash flow is becoming more common. Lenders also weigh the property, the borrower, and the business plan. For 1–8 unit rentals qualified mainly on rental income, see our DSCR loans.
Commercial bridge loans can take about 2 to 10 weeks to close, and permanent loans about 6 weeks to 10 months, depending on the property type, loan size, borrower, and lender requirements. We give you a realistic timeline for your deal up front.
Bridge loans can reach up to 85% loan-to-cost (LTC), permanent loans up to 80% loan-to-value (LTV), and SBA loans up to 90% LTV, depending on the scenario. Recourse, limited-recourse, and non-recourse options are possible on all programs, depending on the scenario.
See all commercial loan questions →
The information we need depends on the loan type and the property type. To get started, it helps to have:
After we review your scenario, we provide a checklist for your specific deal.
Please visit our comprehensive FAQ page for more information on commercial loans, fix and flip loans, new construction loans, and DSCR loans, or complete our Quick App to get your quote started now.