Commercial Real Estate Loans
We can help finance the construction, purchase or refinancing of owner-occupied properties. Missouri Bank also works closely with local Economic Development Corporations to offer SBA/EDC 504 Loans.
allow you to pay for construction as it happens, borrowing only what you need, when you need it. Simply submit periodic draw requests for specific work that has been completed. Upon inspection, mobank advances on the draw requests to pay your contractors.
- Use for real estate construction or renovation
- Interest-only payments during construction reduce debt service requirements
- Floating interest rate
Real estate term loans
can be used for the purchase or refinance of real estate. A conventional real estate loan will provide financing up to 80 percent of the market value of the property.
- Maturity of three to five years
- Equal monthly payments
- Amortization of up to 20 years
- Fixed interest rates available
The SBA's 504 loan program
funds small businesses making fixed-asset investments from $120,000 up to several million dollars to create or retain jobs. Missouri Bank works closely with local economic development corporations to offer SBA 504 loans to qualified borrowers. The program provides long-term financing at a fixed interest rate with a low down payment, typically 10 percent. Loans can be used for fixed assets, including:
- Land acquisition/construction
- Purchase/remodeling of an existing building
- Purchase/repair of machinery and equipment
- Bank provides 50 percent of the financing for at least 10 years, amortized up to 20 years, at market interest rate
- SBA provides 40 percent of financing for a 10- or 20-year term, and amortization with a fixed interest rate determined at the time of funding
- Borrower contributes the remaining 10 percent
- Bank has a first collateral position followed by the SBA