From my experience in the mid-Atlantic region. Banks aren’t super excited about commercial real estate right now. Been getting LOI’s with 5-10 year terms andredactedyear amortization for single use owner occupied CRE. Would be happy to talk further if you would like

If you bought the property and business together in one loan, it is unlikely you would be able to refinance both at better terms then you have with your SBA loan now unless the property value is higher than what you paid for it. The SBA 7A loan allows you to combine both the business debt and real estate debt into one loan at a longer amortization. If you go with conventional financing you would be looking at the following:

1) Likely maximum loan to value on the real estate of about 80% of the current appraised value.
2) Maximum amortization on the real estate loan of 25 years.
3) Any business debt would need to be in a separate business loan. Likely bank loan would be 5 to 7 years fully amortized and you would likely need the loan fully secured by business assets.

You would be looking at better interest rates on all, but you would get a shorter amortization on the business related debt. I have run this scenario for numerous customers over the past year and in most cases their debt service actually goes up, although they are saving on interest and paying down debt faster if they can make it work. I hope this information helps. Happy to discuss if this would be of interest to you. Can you ping me here or directly at redacted