|
If you are interested in learning more about our loan programs, please stop by or call the branch office near you. A list of branch locations is available at Branch & ATM Locations.
The purpose of this type of loan is to purchase or refinance commercial property, either owner occupied or being held as investments. Cash out transactions are available. Loans are available for the following property types:
Generally we underwrite these Loans as follows:
 |
30/10: Payments based upon a 30 year amortization, with the balance due in 10 years.
|
|
Fixed rates for up to the first 5 years. |
|
65% maximum loan-to-value. |
|
1.2:1 minimum debt service coverage ratio. |
These loans are used for construction. Loans are available for the following types of construction projects:
|
Residential |
|
Office
|
|
Industrial
|
The generic structure of these Loans is as follows:
|
Variable rates during the construction period (usually 12 months). |
|
Loan-to-value and pricing are dependent upon project type and amount borrowed.
|
|
Land acquisition loans are available if construction is expected within 12 months.
|
Revolving Lines of Credit help a small company's cash needs, including:
|
Carry accounts receivable. |
|
Purchase inventory.
|
|
Capitalize on discounts.
|
|
Meet payables.
|
The generic structure of these Lines is as follows:
|
Variable Rates. |
|
Generally, 12 month term.
|
Customized loans used primarily for business expansion and to purchase equipment for working capital needs.
The generic structure of these types of Loans is as follows:
|
Fixed and Variable rates. |
|
Loan terms up to 5 years.
|
Standby Letters of Credit are used generally to guarantee performance. Commercial Letters of Credit are used primarily for the import of goods from overseas.
|
