Small Industrial Land Purchase/Build Loan Options

[Zach Whitt]

Hey all- I'm in the process of (hopefully) buying a small piece of land for my business. I've done some residential investing and remodeling, but never anything on the commercial side. My primary question is how to find and structure a loan.

My details:

- I own a small waste-hauling business

- Currently lease a shop to perform in-house truck repair and a yard to store dumpsters

- I've been searching for an industrial space to purchase for a couple years, and haven't found anything in my price range

Land Details:

- Just under 2 acres

- Cleared, fenced, and stabilized (asphalt millings)

- Had a house which was torn down that had electric, gas, and water, so I know it exists to the property, but I don't know the condition

- Plan to 1) store dumpsters on the property and 2) build a small metal building for our shop/office (3-5k sf)

What are my options? (here's where I need help)

- I'd like to minimize cash down, as it makes sense for me to invest cash into the business vs the property

- If not for minimizing cash, I would purchase the land with a loan and then use cash to renovate the property. My concern is that at 30-40% down I probably can't afford the cash outlay

- Would an SBA loan be appropriate in this case? I used one to purchase this business 3 years ago

- Any great lender recommendations who can help walk me through the construction loan/refinance process?