Vermont Commercial Real Estate Loans
Vermont Commercial Real Estate Loans$150K to $100M
I arrange Vermont commercial real estate loans for investors, sponsors, and developers, from a single Main Street storefront to a $100M resort or multi-family portfolio. From Burlington to the Green Mountain ski corridor I move fast, because in a thin market like this the deal goes to whoever can actually fund it. If you are searching for Burlington commercial real estate loans with a real closer behind them, you found me. Banks hand out umbrellas when the sun is shining, not when you are weathering the storm. I bring the capital partner who closes Vermont commercial real estate loans when the local bank will not.
If you are comparing Vermont commercial real estate loans, start here. I arrange Vermont commercial real estate loans for purchase, refinance, construction, and bridge across all 50 states, and the Green Mountain State is no exception. The short version on Vermont commercial real estate loans: in the smallest CRE market in the country, a deep lender bench and real speed matter more, not less, and most local banks deliver neither. I can.
The Property Types I Finance in Vermont
Whatever you are buying, building, or refinancing, I have a lender for it. Vermont commercial real estate loans run through all eight of these lanes, each tied to the national program page so you can dig into structure, leverage, and timing. Pick your asset and the Vermont commercial real estate loans behind it follow.
Multi-Family Apartment
Vermont needs tens of thousands of new homes this decade, and multi-family buildings have made up more than 40% of annual building permits every year since 2015. I fund Vermont multi-family loans on acquisition, refinance, and value-add across Chittenden County and the regional hubs.
View multi-family loans →Warehouse and Industrial
The GlobalFoundries semiconductor plant in Essex Junction and Vermont’s food and beverage makers keep light-industrial demand steady. I finance distribution, cold storage, and manufacturing space across the Champlain Valley and I-89 corridor. These are some of the steadiest Vermont commercial real estate loans on my desk.
View warehouse and industrial loans →Office Building
Burlington and South Burlington still trade office where the tenant story holds, especially medical office near the UVM Medical Center. I underwrite Vermont office acquisitions and refinances on the lease, not just the address, the way solid Vermont commercial real estate loans should be written.
View office building loans →Office Condo
For Vermont practices and small firms that want to own their suite instead of rent it, the office condo plus SBA 504 combination is one of the strongest owner-user plays in Burlington and Montpelier, and among the most popular Vermont commercial real estate loans I arrange.
View office condo loans →Retail and Strip Mall
From Burlington’s Church Street Marketplace to the Williston retail corridor and the resort villages, Vermont retail lives on foot traffic and tourism. I finance neighborhood centers, pad sites, and downtown mixed-use, among the most active Vermont commercial real estate loans in these towns.
View retail and strip mall loans →Flex Building
Flex space fits Vermont’s contractor, craft-manufacturing, and ski-services economy. I fund multi-tenant and owner-user flex across Chittenden County, Rutland, and the I-89 spine.
View flex building loans →Construction / Development
With a statewide housing shortage and resort demand pulling buildable land off the board, ground-up moves in Vermont reward speed. I structure construction and development capital with an LTV/LTC blend up to 90% on qualified large deals.*
View construction and development loans →Self Storage
Second-home turnover, seasonal residents, and a thin storage pipeline make self storage one of the steadier cash-flow plays in Vermont. I lead these with SBA 504 for owner-users, acquisition and ground-up alike, and they remain some of the most dependable Vermont commercial real estate loans in the state.
View self storage financing →Vermont Commercial Real Estate Loans: Programs and Speed
Every Vermont commercial mortgage I place runs on one principle: the faster I see the deal, the faster I put a term sheet in your hands. These are the Vermont commercial real estate loans programs I run and what to expect on each.
| Program | Loan Range | Term Sheet | Close |
|---|---|---|---|
| Commercial Real Estate (acquisition) | $150K to $100M | 3 to 5 days | 21 to 30 days |
| Investment Property | $150K to $100M | 3 to 5 days | 21 to 30 days |
| Bridge Loans | Deal-dependent | 24 to 72 hours | 15 to 30 days |
| Construction / Development | $500K to $100M | 5 to 10 days | 30 to 45 days |
| SBA 504 (owner-occupied CRE) | Up to $5.5M | 5 to 7 days | 45 to 60 days |
| SBA 7(a) (CRE acquisition) | Up to $5M | 5 to 7 days | 45 to 60 days |
| Cashout (free-and-clear property) | $150K to $100M | 3 to 5 days | 10 to 20 days |
Why the SBA 504 Structure Is Different
The SBA 504 is one of the most powerful Vermont commercial real estate loans for an owner-user, and it is widely misunderstood. Most people think an SBA 504 loan is a bank loan with a government program attached to it. It is not. The SBA 504 is structured differently from any conventional CRE loan, and that is exactly why it works the way it does.
Here is the actual mechanic:
The bank provides the first lien at typically 50 percent of the project. The SBA/CDC second-position portion (40 percent) is packaged through the debenture market, where SBA-backed debentures are sold to investors.
In other words, the SBA portion is tied more closely to the bond market than to any conventional bank balance sheet.
A conventional commercial loan is priced around bank risk, borrower risk, property risk, and lender margin. The SBA 504 debenture is priced around government-backed bond risk… a completely different funding source.
That is why the 504 program can deliver long-term, fixed-rate capital that conventional commercial real estate financing often cannot replicate. The 504 advantage is the highest leverage in the market for the owner-user, because it draws from a different capital source entirely.
When the 504 fits your deal, it is almost always the best structure available. The question is whether your deal qualifies. One conversation with me and I will tell you.
Vermont Commercial Real Estate by the Numbers
I underwrite Vermont commercial real estate loans against the real economy, not the headlines. These are the public figures that explain where capital flows in this state and why Vermont commercial property loans keep performing.
Annual visitor spending
16 million visitors spent a record $4.2 billion in Vermont in 2024, roughly 9% of state GDP… the demand engine under hospitality, retail, and resort CRE.
Source: VT Agency of Commerce (Dec 2025)Lodging spending
Visitors spent $1.5 billion on lodging in Vermont in 2024, the single largest visitor category and the cash flow behind hotel, inn, and resort financing.
Source: VT Dept of Tourism and Marketing (2024)Homes needed by 2029
The state’s official needs assessment puts Vermont 24,000 to 36,000 year-round homes short through 2029, a deep, durable tailwind for Vermont multi-family loans.
Source: VT Housing Needs Assessment (2025)Short-term rental listings
Vermont had about 16,000 distinct whole-unit short-term rental listings in 2024-25, roughly 4.6% of the housing stock… a hospitality and STR market I finance directly.
Source: VT Housing Finance Agency (2025)Real estate sector output
Vermont’s real estate sector produced about $6.1 billion in 2024, a steady base of value under the Vermont commercial property loans I arrange.
Source: U.S. BEA via FRED (2025)Vermont annual GDP
Vermont’s total economy reached about $46 billion in 2024 and crossed $48 billion by late 2025, small but resilient demand under every deal on my desk.
Source: U.S. BEA via FRED (2026)How Vermont Investors Use Vermont Commercial Real Estate Loans
Demand is one thing. Turning it into a closed deal is another. Here is how the Vermont commercial real estate loans I arrange actually get put to work, lane by lane. Whatever the asset, Vermont commercial real estate loans win on speed and structure, and that is what I bring to every file. Below is how Vermont commercial real estate loans break down by what you are actually trying to fund.
Vermont Multi-Family Loans
Vermont multi-family loans are one of the steadiest lanes on my desk, and the numbers explain why. The state is tens of thousands of homes short, and roughly three out of four renter households already live in multi-family buildings. I place Vermont multi-family loans on purchase, refinance, and value-add. Vermont multi-family loans run from a six-unit building in Winooski to a stabilized apartment portfolio in Chittenden County. The same playbook behind my $43M and $4.2M apartment closings drives these Vermont commercial real estate loans for you.
The Vermont Commercial Mortgage Options I Place
A Vermont commercial mortgage is not one product, it is a menu. I match each Vermont commercial mortgage to the asset and the borrower: conventional bank debt for clean income property, SBA 504 and 7(a) for owner-users, bridge capital for speed, and institutional money for the big resort and portfolio deals. Where a local bank tries to force your deal into one box, I shop your Vermont commercial mortgage across a 75+ lender network until I find the structure that fits, the same way I shop every one of my Vermont commercial real estate loans.
Vermont Commercial Property Loans Across Every Asset Class
I write Vermont commercial property loans on retail, office, industrial, flex, self storage, hospitality, and mixed-use, not just the easy categories. Vermont commercial property loans are not limited to the obvious deals, and Vermont commercial property loans are where my owner-operator background pays off for you, because I have actually held title, run the numbers, and lived through a closing. When your Vermont commercial property loans depend on a tight timeline or a tricky asset, that experience is the difference between a funded deal and a dead one.
Burlington Commercial Real Estate Loans and the Chittenden County Market
Burlington commercial real estate loans anchor my Vermont volume, and the metro earns it. Chittenden County is the state’s economic core… the UVM Medical Center, the university, the GlobalFoundries supply chain, and the deepest rental market in Vermont all sit here. I treat Burlington commercial real estate loans as the front door to the state, with the lender relationships and the market read to fund Vermont commercial real estate loans faster than an out-of-area bank ever could on the same deal.
When the Bank Walked, I Closed
One deal is luck. Two deals at wildly different sizes is a system. Here is the proof behind the Vermont commercial real estate loans I place, at both ends of the size scale. The same system stands behind the Vermont commercial real estate loans I close here.
$43M Multi-Family Apartment Complex
- Bank issued a pre-approval, then walked two weeks before closing.
- The real estate broker called me.
- I structured the financing with an institutional capital partner.
- Term sheet in the buyer’s hands in 48 hours.
- Closed in 19 days.
“When a $43M deal demands institutional speed, this is how I deliver.”
$4.2M Multi-Family Apartment Purchase
- The borrower’s bank walked pre-closing.
- This was a purchase, not a refinance.
- I funded it in 24 days.
- Into a 20-year fixed.
“This is the typical-investor deal I do every month.”
Fresh Closings From My Desk
Loading my latest funded deals…
A Vermont Bank vs. Me
A bank works for the bank. I work for your closing. Here is what that difference looks like on real Vermont commercial real estate loans, scenario by scenario. The pattern repeats on most Vermont commercial real estate loans I rescue.
| Scenario | Traditional Bank | Kevin |
|---|---|---|
| $5M acquisition with a 60-day closing window | 90+ days to underwriting, often declined | I deliver a term sheet in 3 to 5 days and close in 21 to 30 |
| Bank withdraws 10 days from close | Deal dies | I can place an emergency term sheet in 24 hours and close in under 15 days |
| Out-of-state buyer | Bank wants an in-state relationship | I am a cross-state CRE specialist, all 50 states |
| Loan over $20M | Most banks tap out | I close up to $100M with my institutional partners |
| Owner-occupied CRE | Generic SBA process | I am an SBA 504 specialist, 90-day target close |
| 1031 exchange, tight timeline | Bank cannot match the deadline | I close in 21 to 30 days, with your replacement property identified |
| DSCR property with no W-2 income | Declined for “lack of personal income” | I have DSCR programs that qualify the property, not your W-2 |
Why Work With Me Instead of a Vermont Bank
20+ Years in the Commercial Real Estate Arena.
I have spent 20+ years in the commercial real estate arena, not behind a teller window. I have been a broker, an owner, and an operator. I have sat on the borrower’s side of the table, signed the personal guarantee, and sweated a closing date, so when I tell you I understand your Vermont commercial mortgage, I mean it from experience and not from a training manual. That experience is behind every one of the $500M+ I have funded, and behind every Vermont commercial real estate loans file I take on.
I bring a 75+ lender network and a $100M institutional capital partner to the table, and I execute across all 50 states. Most loan brokers have never owned commercial property or run a deal from the borrower’s side. That is the difference you feel when a Vermont deal gets complicated and you need someone who has actually been there to keep a Vermont commercial real estate loans file alive. Don’t Beg the Bank! Put a borrower-side operator on your side instead.
I call you. I never text. I review every Vermont commercial real estate loans file personally, 7 days a week, on Arizona Time. For a multi-million-dollar decision you deserve a real person who picks up the phone, not a portal and a ticket number. That is the trust a CRE deal of this size requires, and it is the standard I hold myself to on every file.
So here is the bottom line on Vermont commercial real estate loans. Don’t Beg the Bank! Tell me what you are trying to do and I will tell you the fastest way to fund it. More about how I work → or scroll down and send me the deal.
What Drives the Vermont Deals on My Desk
Three engines fill my Vermont pipeline and most of the Vermont commercial real estate loans I write. Hospitality and tourism is the headline act, with 16 million visitors a year filling hotels, inns, and ski-resort lodging across Stowe, Killington, and the Mad River Valley. Healthcare anchors Chittenden County around the UVM Medical Center, driving medical office and clinic demand. And manufacturing, led by the GlobalFoundries semiconductor plant in Essex Junction and Vermont’s food and beverage makers, keeps industrial and flex space in play. When those tenants need space, the property behind them needs Vermont commercial real estate loans, and that is where I come in. Three engines, one source for the Vermont commercial real estate loans behind them.
Vermont Commercial Real Estate Across the Map
My desk covers the whole state, and I place Vermont commercial real estate loans in every corner of it. Burlington commercial real estate loans are the core of what I do, anchored by Chittenden County’s medical, university, and rental economy. South Burlington and Essex Junction carry the suburban office and industrial story, Rutland and Bennington hold the southern markets, Brattleboro and the Connecticut River towns serve the southeast, and the resort villages of Stowe, Killington, Manchester, and Woodstock drive hospitality and short-term-rental deals. Wherever the property sits, I can fund it with the right Vermont commercial real estate loans for that market.
Authority on Vermont Commercial Real Estate Lending
I would rather you trust the institutions than take my word for it on Vermont commercial real estate loans. These are the sources I rely on when I structure Vermont commercial real estate loans, and you should too.
Federal Loan Programs
The SBA’s own breakdown of 7(a), 504, and other programs I use to structure owner-occupied CRE deals.
SBA Loan Programs →Commercial Real Estate Industry
NAIOP, the commercial real estate development association, on market trends and development standards.
NAIOP →Real Estate Research and Trends
The Urban Land Institute’s research on capital flows and emerging trends in real estate.
ULI →Vermont Regulator
The Vermont Real Estate Commission, under the Secretary of State’s Office of Professional Regulation, licenses and oversees real estate activity statewide.
VT Real Estate Commission →Send Me Your Vermont Deal
Tell me what you are working on. I review every one of my Vermont commercial real estate loans files personally and I will call you back, 7 days a week, on Arizona Time.
No upfront fees.* I am paid by the lender at closing. Your information goes to me directly… I call leads, I never text, and I never sell your data.
Vermont Commercial Real Estate Loans: FAQ
How fast can you close a Vermont commercial real estate deal?
On a standard acquisition I deliver a term sheet in 3 to 5 days and close in 21 to 30. A bridge deal moves faster… a term sheet in 24 to 72 hours and a close in 15 to 30 days. If a bank just walked on you days before closing, I can place an emergency term sheet in 24 hours and close in under 15 days. The clock starts the moment your application reaches me, so the sooner I see the deal, the sooner the money moves. Speed is the entire point of my Vermont commercial real estate loans. Arizona Time, 7 days a week.
How much can I borrow with Vermont commercial real estate loans?
I arrange Vermont commercial real estate loans from $150K to $100M. Smaller owner-user deals run through SBA 504 and 7(a), conventional acquisitions sit in the middle, and large resort and portfolio deals up to $100M go through my capital partners. On qualified $5M to $100M CRE, development, and construction deals I can reach up to 90% leverage.* Tell me the deal size and I will tell you the structure that fits.
What property types do you finance in Vermont?
All of them. Multi-family apartments, warehouse and industrial, office buildings, office condos, retail and strip malls, flex buildings, construction and development, and self storage. Vermont multi-family loans are a big part of my volume given the state’s housing shortage, but I place Vermont commercial property loans across every major asset class, including hospitality and resort deals. If you are not sure where your deal fits, send it to me and I will point you to the right program. Vermont commercial real estate loans, every asset class, one source.
Do you offer SBA 504 for owner-occupied CRE in Vermont?
Yes, and it is one of my specialties. The SBA 504 is structured differently from a conventional bank loan: a bank first lien at about 50 percent, an SBA/CDC debenture portion at about 40 percent priced off the bond market, and your equity. That structure delivers the highest leverage and best long-term fixed rates available to an owner-user. If you occupy 51 percent or more of the building, your Vermont deal likely qualifies. It is one of the strongest Vermont commercial real estate loans for an owner-user. One call and I will tell you for sure.
Do you finance 1031 exchanges in Vermont?
Yes. The hard part of a 1031 is the calendar… 45 days to identify and 180 days to close. A bank usually cannot move at that speed. I can. Once you have identified your replacement property, I close in 21 to 30 days, which keeps your exchange inside the deadline and your gains deferred. Bring me the timeline early and I will build the Vermont commercial real estate loans financing around it.
Do you fund ground-up construction in Vermont?
Yes. With a statewide housing shortage and steady resort demand pulling buildable land off the board, ground-up moves fast in Vermont. I structure construction and development capital from $500K to $100M, with an LTV/LTC blend up to 90% on qualified large deals.* Term sheets run 5 to 10 days and closings 30 to 45 days. Bring me the pro forma, the budget, and the sponsor’s track record and I will tell you what I can do.
What loan-to-value ratios do you offer?
It depends on the asset and the deal. Stabilized commercial real estate typically runs 60 to 75% LTV. Owner-occupied bridge runs 60 to 75% LTV, interest-only, with an SBA or permanent takeout. On qualified $5M to $100M CRE, development, and construction deals I can reach up to 90% leverage*, measured as LTV on stabilized value or an LTV/LTC blend on ground-up. Send me the numbers and I will give you a straight answer on leverage. Leverage is deal-specific on Vermont commercial real estate loans.
What documents do you need to issue a term sheet?
To move fast I need the basics up front: the purchase contract or current debt, a rent roll and trailing-12 operating statements for income property, your personal financial statement, and a quick note on the sponsor’s experience. For construction I add the budget, plans, and pro forma. You do not need a perfect package to start… send me what you have and I will tell you what is missing. The faster I see it, the faster the term sheet comes back. That is how I run every one of my Vermont commercial real estate loans.
What does it cost to work with you?
I charge no fees to you, the borrower. I am compensated by the lender at closing. Some partner lenders may require a commitment fee or deposit when you accept a term sheet… that charge belongs to the lender, not to me, and it is always disclosed before you commit to anything. There are no upfront fees to me to get started. You send me the deal, I go to work, and the lender pays me when it closes.
Can I get a Vermont commercial mortgage with less-than-perfect credit?
Often, yes. A bank leads with your credit score. I lead with the deal. For a Vermont commercial mortgage on income property, DSCR programs qualify the property’s cash flow, not your W-2 or your FICO. For owner-occupied deals there is more flexibility than most banks admit. Bad credit does not automatically kill a strong deal in my world… it just changes which lender in my network I take it to. Send it over and let me look.
Which Vermont markets do you serve, and do you do Burlington commercial real estate loans?
All of Vermont, and yes, Burlington commercial real estate loans are the core of my business. I fund deals in Burlington, South Burlington, Essex Junction, Winooski, Rutland, Bennington, Brattleboro, Montpelier, and the resort villages like Stowe, Killington, and Manchester. I am a cross-state CRE specialist, so an out-of-state buyer chasing a Vermont property is exactly the kind of deal I close all the time. Wherever the property sits in Vermont, I can fund it.
Commercial Real Estate Loans by State
Find your program. Don’t Beg the Bank!
I arrange Vermont commercial real estate loans from $150K to $100M, with a same-day callback from someone who has owned the businesses himself. Tell me what you are trying to do and I will tell you the fastest way to fund it. Don’t beg a bank that will keep you waiting… call me.
*I charge no fees to the borrower. I am compensated by the lender at closing. Some partner lenders may require a commitment fee or deposit when you accept a term sheet; that charge belongs to the lender, not to me, and is disclosed before you commit. Leverage up to 90% applies only to qualified $5M to $100M CRE, development, and construction deals, measured as LTV on stabilized value or an LTV/LTC blend on ground-up; terms run 12 to 60 months on large deals with closings in 15 to 30 days, and stabilized permanent financing runs 5 to 30 years. All figures are illustrative and subject to lender approval, underwriting, and property qualification. Vermont commercial real estate loans are arranged by Kevin Kermeen, a nationwide commercial loan advisor.