What commercial mortgage options are available in Michigan?

Commercial property owners in Michigan can access conventional bank loans, SBA 504 programs, CMBS conduit loans, private bridge loans, and debt fund financing. Options vary by property type, loan size, and borrower profile.

What loan sizes do commercial lenders in Michigan fund?

Most active lenders in Michigan focus on the $500K–$15M range. CMBS and life company lenders typically start at $2M–$3M. Private bridge lenders go as low as $250K for the right deal.

How long does commercial mortgage refinancing take in Michigan?

Conventional lenders take 60–90 days. Private bridge lenders close in 10–21 days. A broker with active Michigan lender relationships can significantly speed the process by targeting the right capital sources from the start.

Michigan Commercial Mortgage Refinance Guide

Commercial property owners in Michigan with maturing loans, bank non-renewals, or challenging refinance situations have access to a full range of capital options — from conventional banks to private bridge lenders. RefiLoop is a licensed commercial mortgage broker serving Michigan with direct access to 7,000+ lenders across all capital types.

The Michigan Commercial Real Estate Market

Michigan’s commercial real estate market has undergone significant transformation, with Detroit’s downtown and midtown experiencing a sustained revitalization driven by tech and mobility sector investment. Grand Rapids has emerged as one of the Midwest’s most active mid-market commercial real estate markets. The Ann Arbor market benefits from University of Michigan’s economic anchor. Michigan’s industrial sector — particularly automotive manufacturing and adjacent supply chain — remains a significant driver of commercial real estate demand statewide.

Commercial Mortgage Options in Michigan

Conventional Bank Financing

Regional and national banks in Michigan offer competitive rates for stabilized properties with strong DSCR (1.20x+) and experienced borrowers. Typical terms: 5–10 year fixed, 25–30 year amortization, 70–75% LTV. Timeline: 60–90 days.

Bridge and Private Lending

When conventional financing isn’t available — due to timeline, property condition, DSCR, or bank non-renewal — private bridge lenders provide short-term capital that closes in 10–21 days. Active across all Michigan markets. See: commercial bridge loans guide.

CMBS Financing

CMBS conduit lenders provide non-recourse financing for stabilized Michigan properties, typically at competitive rates for the right asset profile. Best for larger loans ($3M+) on income-producing properties with strong occupancy. See: CMBS loan requirements.

Debt Funds

Institutional debt funds are active in Michigan’s major markets, offering flexible underwriting for transitional, value-add, and bridge situations that banks won’t touch. See: debt fund vs. bank for commercial real estate.

SBA 504 Loans

Owner-occupied commercial properties in Michigan may qualify for SBA 504 refinancing — below-market fixed rates for businesses that occupy at least 51% of the collateral property. See: SBA 504 commercial refinance: who qualifies.

Navigating a Balloon Maturity in Michigan

Most commercial loans in Michigan are structured with 5–10 year terms and balloon at maturity. If your balloon is approaching, start the refinancing process 12–18 months early for maximum options. If you’re already within 90 days of maturity, read: commercial loan due in 90 days: what to do now.

If your Michigan lender has declined to renew, read: what to do when your bank won’t renew your commercial loan.

Major Michigan Markets We Serve

Detroit, Grand Rapids, Ann Arbor, Lansing, Kalamazoo, Flint, and Traverse City are active commercial real estate markets. Detroit and Grand Rapids anchor the largest commercial lending volume in the state.

How RefiLoop Helps Michigan Property Owners

RefiLoop is a licensed commercial mortgage broker (NMLS #2510864) specializing in refinances for Michigan commercial property owners with $500K–$15M loans. We provide direct access to 7,000+ lenders and deliver 3–5 competing term sheets within 48 hours.

No upfront cost. No exclusivity. We get paid only when you close.

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Complete guide: Commercial Mortgage Refinancing — The Complete Guide →

Michigan City Guides

We serve commercial property owners throughout Michigan. See our city-specific guides:

Cities We Serve in Michigan

About David Greenbaum

David Greenbaum is a commercial mortgage broker and co-founder of RefiLoop. He specializes in helping commercial property owners refinance maturing loans between $200K and $15M across Texas, Florida, Georgia, North Carolina, Ohio, and other priority markets. With hands-on experience in commercial bridge loans, debt fund financing, and conventional CRE refinancing, David helps borrowers find the right capital source for their situation — not just the easiest one.