Leasehold Improvements Financing for Business Spaces in Alberta BC
Legacy Commercial Mortgage provides leasehold improvements financing to help businesses improve and customize their rental properties across Alberta and BC. These upgrades to leased commercial spaces—such as offices, retail stores, and restaurants—are generally done to meet operational needs and brand standards.
These projects often require specialized financing due to their complexity, cost, and lease-related considerations. At Legacy Mortgage Group, we help businesses secure tailored financing solutions for tenant improvement projects. We’ll do our best to get fast approvals, competitive rates, and expert guidance throughout the process.
What Are Leasehold Improvements for Business Spaces?
Leasehold improvements are tenant-funded modifications made to leased commercial spaces. Unlike general building upgrades, these improvements benefit only the occupying business.
Common examples include customized layouts, lighting systems, HVAC upgrades, and workspace alterations. Financing for these improvements is distinct from property acquisition loans and is designed to support business space customization, commercial buildouts, and rental space modifications. They provide the capital you need to turn a generic rental space into a workspace or storefront that suits your business needs!
Types of Improvements That Qualify for Financing
Legacy Commercial Mortgage provides financing for a wide range of improvement projects, with specialized solutions for different industries. Our expertise helps businesses get the funding they need to create their ideal workspace.
Office Buildouts
We offer office buildout financing for everything from modernizing an existing space to creating a new layout with private offices, conference rooms, and custom millwork.
Retail Renovations
We provide retail improvement financing solutions to help businesses update their storefronts, customize their interiors, and install new fixtures to create a more engaging customer experience.
Restaurant & Hospitality
Our financing solutions can cover restaurant renovations, including kitchen buildouts, specialized equipment installation, and seating area customizations.
Medical Office Improvements
We’ll help you secure financing for a range of specialized improvements, including patient rooms, examination areas, and laboratory equipment.
Depending on the improvement you’re looking for, there are a number of financing options you could consider.
Financing Options for Tenant Improvements
We offer a range of flexible financing structures for tenant improvement loans to help you get the capital you need without tying up your cash flow. Our team will work with you to find the right solution for your business.
Traditional Tenant Improvement Loans
Best For
Businesses with strong financials and long-term leases. Secure lump-sum funding for leasehold improvements with fixed or variable interest rates. Ideal for office buildouts, retail renovations, and medical space upgrades.
Loan Range
$50,000 – $2 million
Terms
3–10 years
Benefits
Predictable payments, fast approval, flexible use
Traditional Tenant Improvement Loans
Best For
Businesses with strong financials and long-term leases. Secure lump-sum funding for leasehold improvements with fixed or variable interest rates. Ideal for office buildouts, retail renovations, and medical space upgrades.
Loan Range
$50,000 – $2 million
Terms
3–10 years
Benefits
Predictable payments, fast approval, flexible use
Equipment + Buildout Financing
Best For
Businesses needing both space upgrades and specialized equipment. Combine equipment purchases with leasehold improvements under one financing package. Perfect for restaurants, clinics, and manufacturing spaces.
Loan Range
$75,000 – $1.5 million
Terms
3–7 years
Benefits
Streamlined funding, bundled rates, operational efficiency
Loan amounts typically range from $50,000 to $2 million, with terms from 3 to 10 years. Interest rates can vary significantly, but we’ll work with our network of over 50 lenders to secure you the best rate and terms for your project.
How Much Can You Finance for Business Improvements?
Legacy Commercial Mortgage offers loan amounts for leasehold improvements typically ranging from $50,000 to $2 million. The final loan amount depends on several factors, including:
Lease terms
The length of your lease and the landlord’s approval are key factors.
Business credit health
Your business’s financial history and credit score will be evaluated.
Project scope
The total cost of the project and the type of improvements will determine the maximum financing available.
Now that you know how much you can finance, let's look at what's required to qualify.
Leasehold Improvement Requirements in Alberta and BC
To qualify for leasehold improvement financing, businesses typically need:
A minimum
Close collaboration with your accountants and legal team.
No 2 year
history needed, startups can access up to $500K via CSBFL
A valid
commercial lease with sufficient term remaining
Landlord approval
for proposed modifications
Provincial building codes and zoning regulations in Alberta and BC can vary, and may affect project timelines and permit requirements. When you partner with us, we’ll guide you through these regional considerations to make sure your project is compliant with laws and regulations.
The Legacy Alberta Advantage
Since 2019, Legacy has built a strong foundation in Alberta, earning a reputation for excellence in Edmonton and Calgary. Our team combines local expertise with national resources, giving you:
Business Financial Statements
This includes detailed financial statements for your business and a personal net worth statement.
Lease Agreements
A copy of your lease agreement, including any addendums or renewals.
Improvement Contracts
Contracts and bids from your general contractor or builder, including a detailed scope of work.
Architectural Plans
Architectural plans and drawings for the buildout.
Landlord Approval
Written consent from your landlord for the planned renovations.
Why Choose Legacy Commercial Mortgage for Improvements?
Working with a specialized commercial mortgage broker like Legacy Commercial Mortgage offers distinct advantages over traditional bank loans.
When you choose Legacy Mortgage Group, you’ll benefit from:
Faster approval time
Simplified application process
An expert broker partner who understands the nuances of tenant improvement project financing
Flexible repayment terms
Access to over 50 lenders to get the best rate and term!
Legacy’s expertise in commercial real estate financing ensures that each loan is structured to match the unique needs of your business space. Whether you're upgrading a retail storefront or customizing a medical office, our team delivers specialized tenant improvement lending with efficiency and precision.
Leasehold Improvements Process and Timeline
Securing leasehold improvement financing with Legacy is a clear, step-by-step process!
Understanding your needs
We’ll begin by getting to know you and what your income, lifestyle, debts, and financial goals are. This will help us recommend an approach and determine what you can qualify for.
Financial review
Once we know more about you, we’ll work with you to come up with a strategy that aligns with your goals and needs.
Negotiating with lenders
Leave the hard part to us. With experience, professionalism, and expert knowledge, we leverage our network of over 50 lenders to get you the best rate and term for your budget and needs.
Closing support
Our team provides full assistance through legal documentation to ensure a seamless closing.
Depending on complexity, the timeline can range drastically, typically falling between 2 months – 1 year. Regardless of the duration, you can be assured that we’ll keep you updated along the way.
Benefits of Business Transition Financing
Flexible Repayment Structures
We work with our network of lenders to get you competitive rates and flexible repayment structures that align with your business’s financial health.
Business Continuity
Our comprehensive approach ensures that the business maintains its day-to-day operations with minimal disruption during the transition.
Cash Flow Preservation
We offer solutions that can help you preserve your business’s cash flow and reduce the financial burden of a large acquisition.
Employee and Customer Relationships
Our goal is to ensure a smooth transition that protects your business relationships, preserving your team and your loyal customers.
How Long Does Leasehold Improvement Financing Take?
Most leasehold improvement loans are approved within 2–3 weeks, with funding disbursed in stages as your project progresses. Factors that affect timing include the completeness of your documentation, lease terms, and contractor readiness. Legacy’s fast tenant improvement financing process helps minimize delays and keeps your commercial loan processing time aligned with your renovation schedule.
Common Leasehold Improvement Projects We Help Finance
Legacy Commercial Mortgage provides financing for a wide range of improvement projects, with specialized solutions for different industries. Our expertise helps businesses get the funding they need to create their ideal workspace.
Here are some examples of common leasehold improvement projects we support with:
Office Space
We finance projects that help businesses update their office spaces, including new layouts, private offices, and technology system upgrades.
Industrial Space Improvements
We assist with financing for warehouse customization and other industrial space improvements, including electrical work and specialized equipment installation.
Retail Buildouts
We provide retail buildout projects financing to help businesses create engaging and functional retail spaces, from new flooring and lighting to custom shelving and fixtures.
Restaurant Improvements
We offer specialized financing for restaurant renovations, including kitchen buildouts, specialized equipment installation, and seating area customizations.
Don’t worry if you’re not sure what financing solution you need for your project! Our team understands the unique needs of each business type and delivers tailored financing solutions to match.
Success Stories from Alberta and BC Businesses
An Industrial Business Restructuring Success
Edmonton & Calgary
Summary
This client was struggling with a proper structure for his general commercial inventory business with his current financial institution. Our client was in need of working capital and restructuring to bring down his monthly payment obligations. LMG was able to successfully secure a $3,500,000 Line of Credit versus the clients’ current $500,000 Line of Credit. In addition to this LMG was able to consolidate a high interest inventory loan of $1,300,000 into a conventional mortgage in one of their industrial properties in the form of an equity take out and payout of the inventory loan. This resulted in monthly savings of $15,000 just for this inventory loan alone.
$10,750,000
Loan Size
Industrial
Deal Type
$150,000
Credit Card for operational needs
Competitive
Rates and Fees with leading commercial banking financial institution
$3,500,000
Line of Credit Margined against receivables and inventory for working capital needs
$7,100,000
in Term Reducing Mortgages across 2 industrial properties
Ready to Get Renovating?
Your business deserves a space that reflects its brand and operational needs. Legacy Commercial Mortgage’s expertise in leasehold improvement financing helps businesses across Alberta and BC secure customized financing solutions for their space improvement needs. We provide a fast approval process and competitive rates, ensuring your project is a success from start to finish.
Contact our team of dedicated commercial lending specialists in Alberta and B.C. for a free consultation.
