Commercial Mortgage Loan

Designed to support small businesses and nonprofits that need financing to purchase buildings that they either currently occupy or intend to relocate to, these loans will be targeted to small businesses owned by minorities, women, immigrants, veterans, or other disadvantaged populations as well as nonprofits and businesses located in low income communities.


  • Small and midsize businesses owned/controlled by minorities, women, immigrants, veterans, LGBTQ people, or other disadvantaged populations.
  • Small businesses located in low-to-moderate income communities.
  • Nonprofits located in low-to-moderate income communities.
  • Borrower must occupy building that is being financed (currently or after purchase) and business must be operating for 2 years minimum.


  • Commercial property acquisition
  • Construction and renovation


Loan Amount $50,000 to $750,000
Term 5, 10, or 15 year term with a max amortization of 25 years.
Interest Rate • Fixed rate – approximately 5.5% based on current interest rates
• Interest rate review in year 5 for longer term loans
Equity Required 10% cash equity


  • 1st lien on the subject property.
  • Max LTV 90% based on the lower of the purchase price or appraised value.
  • PIDC reviews a combination of credit, cash flow, collateral, financial position, management capacity, and industry risk. Property type, location and condition to also be considered.
  • Appraisal to be obtained in advance of Loan Committee.


Fees will vary with each transaction and generally include:

Application $250-$1000 depending on loan size - nonrefundable fee, payable at time of application submission
(application fee waived now through August 31st)
Origination 1.5% of the financing amount provided, payable upon acceptance of PIDC's commitment letter.
Closing Approximately $500 - $3,750, depending on loan size (does not include third party costs such as appraisals, construction monitoring, and UCC filings).