We all need a little space to call our own—your small business is no different. In some cases, you might be fine working or freelancing straight from your home. In other situations, you might travel and only require your toolbox or an internet connection. For many small business owners, though, you need a dedicated facility to house your company. A commercial mortgage, also called a commercial real estate loan, is how you can achieve this dream. Yes, this loan is similar in some ways to a mortgage for your living space, but commercial mortgages are geared toward small businesses in unique ways. First and foremost, a commercial mortgage is meant for the purchase, expansion, and/or renovation of your place of business. Because of the high costs of real estate, these loans are typically in the amount of $250,000 to $5 million, depending on the market in the location where you want to set up shop. Like a home mortgage, the repayment term is long—often between 20 and 25 years. The period is lengthy so the monthly payments don’t overburden your business. However, pay attention to both the total repayment amounts as well as what your monthly commitment will be. The interest rates range between 4.25% to 6%, so clock how much the total cost of real estate will impact your bottom line. These loans require more paperwork than some other forms of small business funding, but this is because the amounts are so large. Still, you can be approved for a commercial mortgage in as little as 45 days.