Small Loans Program



First National’s Small Loans Program is ideal for clients seeking up to $3 million in conventional commercial mortgage financing for up to 75% of the property value. Funds can be used for acquisitions, refinances or equity take-outs. Ideal property types include: multi-family (apartment), storefront, mixed use, retail, industrial and office.

Loan proposals are typically provided within 48 hours, with timely closings and quick funding.

Our Experts
Our Small Loans experts have worked with thousands of clients to understand their needs. We will guide you through the commercial mortgage process and develop a customized proposal detailing your loan strategy, preferred terms, best rate solution and optimum financing recommendation.

The next time you have a small commercial mortgage opportunity, make First National your first call at 1.800.465.0039

Quick Facts - Commercial Small Loans Property Lending Program
Loan Parameters
Loan Sizes $500,000 - $3,000,000
Property Types Apartment, storefront, retail, industrial and office
Lending Areas Major urban centres
Loan Purposes Acquisitions, refinance existing debt, equity takeouts
Loan Types Conventional first mortgages only
General Criteria
  Apt Storefront Retail Ind Office
Maximum LTV 75% 75% 65% 65% 60%
Minimum Equity Required 15% 15% 15% 15% 15%
Minimum DCR 1.25 1.25 1.25 1.35 1.35
Max. Amort. (Yrs.) 25 25 25 25 25
Reports Required Appraisal and Phase I Environmental Report
Lender Fees 0.5% - 1.0% (depending on property type and size)
Broker Compensation Can be included in the mortgage commitment
Interest Rates Fixed and Floating
Available Terms Floating and 1 - 5 years
Personal Guarantees Full guarantees are required with a minimum beacon score of 680. Applications with beacon scores lower than 680 considered on an exception basis
Typical Information Required to Obtain Detailed Loan Proposal - Loan Amount Required and Purpose
- Rent Roll / Leases
- Project Operating Statements
- Ownership Details
- Pictures / Property Description
- Details of Registered Debt or Purchase and Sale Agreement
Escrows Tax escrows are required

For commercial financing over $3 million, please call the local office for specific rates and criteria.

View our recent financings.