We are delighted to present an overview of the most prominent commercial lenders operating in Miami, a vibrant economic hub in sunny Florida. These lenders specialize in commercial real estate financing, providing crucial support to a diverse range of businesses in the Magic City. Miami’s commercial real estate market is known for its dynamism, and the average loan amount extended by these lenders hovers around $1.5 million, reflecting the city’s thriving property landscape.
In Miami, the lending landscape is characterized by the active participation of regional and community banks, along with Debt Funds. Debt Funds have the flexibility to offer loan-to-value (LTV) ratios ranging from 75% to 80%, while most community banks typically adhere to a maximum LTV of 65%. The origination fees can vary, typically falling within the range of 0.5% to 2%, offering businesses options tailored to their needs.
Miami’s lenders actively finance a variety of property types, including Investment Residential, MultiFamily, and Office properties, catering to the diverse demands of the city’s commercial real estate sector. The starting interest rate for a 5-year fixed product is approximately 7.35%, providing businesses with competitive financing options in this dynamic market.
Miami’s commercial lenders are well-equipped to navigate the fast-paced business environment, with loan approval timelines typically spanning from 30 to 45 days for National and Regional Banks. This efficient approach underscores their commitment to helping businesses access capital swiftly.