Business Lending

February 27, 2015 | Steve Hable

When you hear the term “credit union,” you generally think of a locally based financial institution that offers personal service and low lending rates for getting a credit card, an auto loan or even a loan for that dream home. And you’d be right. But did you know that, in addition to credit union business accounts, some credit unions also offer great rates and service on business loans?

Mission Fed is very active in Business Lending in the Commercial Real Estate area. The primary types of properties we offer lending for are Multi-family, Retail, Office and Industrial/Warehouse Buildings. We will lend to members who desire to purchase a property for investment purposes or purchase a building as part of their business. Mission Fed will also refinance an existing property even if the member wants to cash out! Most of our loan amounts range from $500,000 to $5 million.

Our Commercial Loan Department representatives are very experienced. We can arrange Commercial Real Estate Loan terms that best fit your needs. Almost all other commercial real estate lenders charge a fee from 1% to 5% of the loan amount if a borrower pays off the loan before the maturity date. Mission Fed does not charge any prepayment fees on Commercial Real Estate Loans! We can process your loan application quickly, usually within 30-45 days. All decisions on our Commercial Real Estate Loans are made locally by the management of Mission Fed.

Whether you’re interested in expanding your commercial real estate portfolio, buying the building your business occupies or refinancing the debt on your current commercial loan or multi-family property ban, Mission Fed’s Business Lending Department is here to provide the financing. Just visit our Commercial Real Estate Lending page to contact us, and together, we’ll figure out the right loans to invest in your success.

The content provided in this blog consists of the opinions and ideas of the author alone and should be used for informational purposes only. Mission Federal Credit Union disclaims any liability for decisions you make based on the information provided.

Steve Hable

Steve Hable

Steve Hable is Mission Fed’s 1st VP Member Business Lending and has been in the real estate finance industry for over 30 years. His experience includes all facets of residential and commercial real estate finance, including loan origination, loan underwriting, servicing, secondary marketing (plus establishing private mortgage-backed securities on Wall Street), and property management of commercial properties.

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