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Expand your footprint with a commercial mortgage loan.
You’ve established a customer base, ironed out some of the operating kinks and business is growing – maybe even a little too fast for your current space. If your company is considering physical expansion, we can help you make the purchase. If you already own a space but want to refinance to adjust your capital or leverage equity to remodel, we can help with that too. WesBanco offers business mortgages to buy or refinance an owner-occupied commercial property. Our commercial property loans can be applied to the purchase of a new storefront, warehouse, office building, land for agricultural applications and more. We’ll work with you once you’ve found the right space to ensure you have the commercial mortgage financing you need to make it the perfect fit for your business.
Commercial and Small Business Real Estate Loans
Minimum Loan Amount $10,000
Secured and unsecured loans
Fixed and adjustable interest rates
Automatic payments conveniently deducted from your WesBanco business checking account.
When and Why to Buy
If you’re currently renting or leasing a space, you may be wondering when the right time is to take the next step and invest in your own property – and there’s a lot to consider. Owning your own business property gives you total control over the management of the building/land and allows you to take advantage of tax breaks and current commercial mortgage rates. But it’s still a large investment and it’s important to consider the following before you buy:
Construction or renovation costs: What will it take to get the space operational – and how long? Will you need to maintain presence (and rent) at your current location until it’s ready? Commercial lending may be able to finance some of these expenses as well.
Location: Is it the right spot for your business? Is there parking for customers? Accessibility? Foot traffic? This may be more impactful for retail, food service and hospitality businesses, but can also impact medical practices and manufacturing companies that need to transport goods easily and affordably.
Future Growth: Does the space provide you room to grow without unnecessarily increasing current overhead costs on space you aren’t using?
Liability of monthly rent vs Asset of owning your own space: When reviewing your balance sheets, consider the benefits of an asset that will generally increase in value, but make sure you’re ready to cover expenses in the transition, and commercial mortgage payments if your business situations were to change.
Find a real estate agent who specializes in commercial properties for your industry and can help you find the right space. Then, a WesBanco Commercial Lending Officer can walk you through the details of a small business real estate loan.
Owning your own business property gives you total control over the management of the building/land and allows you to take advantage of tax breaks and current commercial mortgage rates.
The perfect companion to your WesBanco checking account. All of our accounts are available with a Companion Savings account with no minimum balance requirement or monthly maintenance fee when monthly statements are combined and accounts have identical ownership.