Commercial Construction Loans

Looking for construction financing to build from the ground up, make tenant improvements, or purchase and renovate an existing commercial structure? Our commercial construction loans are built for you. Whatever you’re working on, our experienced North Central West Virginia lenders will work with you every step of the way.

What is a Commercial Construction Loan?

A commercial construction loan allows you to borrow money to construct your new business or expand your existing business. In some cases, the cost of construction can be covered in a commercial real estate loan if you are purchasing vacant land. If you already own the land, but need to build the physical structure, that’s where a commercial construction loan can help. 

Business construction loans can also help if you increase the size or reconfigure your commercial property. 

Benefits of Construction Loans

  • Make interest-only payments while construction is ongoing.
  • Convert your construction loan into a commercial mortgage once your project is finished.
  • Flexible terms
  • Swift decision-making
  • Tax breaks (Consult your tax advisor)
  • As the owner, you gain control over your property - you won’t have to worry about a landlord raising the rent, nor will you need to ask permission to make any structural changes. 

Commercial Construction Loans vs. Commercial Mortgages

Though commercial construction loans and commercial mortgage loans may both fall under the business real estate lending umbrella, the major differences are what the loan is used to finance, and how the loan is repaid. 

Business construction loans are used to finance the materials and process of constructing the building. A business mortgage loan lets the buyer secure the funds to purchase an existing, commercially developed structure. 

Commercial mortgages, similar to personal mortgages, have a long-term repayment schedule and the borrower borrows the whole amount upfront. The full amount of a commercial construction loan is not received up front. Instead, the borrower works with the commercial lender to create a withdraw schedule, and the funds are released as needed during the course of the project. 

Read more about commercial loans in "How To Apply For Your First Business Loan”.

Apply for a Commercial Construction Loan in West Virginia

Over the years, we’ve helped many West Virginia businesses grow and thrive. We are a true local financial partner, offering useful financial products and services for all of your commercial banking and financing needs. Come experience our friendly and personal service for yourself! 

Questions about commercial construction loans? Contact your local business lenders at 304-534-7200 or fill out a form to request a callback.  Apply in person at any one of our seven convenient locations; White Hall, Hundred, Mannington, Fairview, Fairmont and Morgantown. 


*Subject to credit approval. Please contact your local First Exchange Bank for current interest rates. First Exchange Bank is an Equal Housing Lender.