Commercial Construction Loan Bismarck ND

Looking for Commercial Construction Loan in Bismarck? We have compiled a list of businesses and services around Bismarck that should help you with your search. We hope this page helps you find Commercial Construction Loan in Bismarck.

Wells Fargo - Bismarck Main Mb Branch
(866) 245-3452
500 E Rosser Ave
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
U.S. Bank - Bismarck-Main Branch
(800) 872-2657
200 North Third Street
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
U.S. Bank - Bismarck South Branch
(800) 872-2657
423 E Bismarck Expressway
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
U.S. Bank - North Bismarck Branch
(800) 872-2657
3298 N 14th Street
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
US Bank - Bismarck Main Office
(701) 222-6262
200 N 3rd St
Bismarck, ND
Drive Up Hours
Mon 08:00 am to 05:30 pm
Tue 08:00 am to 05:30 pm
Wed 08:00 am to 05:30 pm
Thur 08:00 am to 05:30 pm
Fri 08:00 am to 05:30 pm

U.S. Bank - Arrowhead Branch
(800) 872-2657
1144 North Third Street
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.95. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Bismarck Main Branch
(866) 245-3452
400 E Broadway Ave
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Bismarck Gateway Branch
(866) 245-3452
1050 East Interstate Avenue
Bismarck, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Mandan Branch
(866) 245-3452
111 2nd Avenue Nw
Mandan, ND
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
Wells Fargo - Bismarck Main
(701) 222-5100
400 E Broadway Ave
Bismarck, ND
Type
Branch
Office Hours
Mon 07:00 AM-05:00 PM
Tue-Thu 08:00 AM-05:00 PM
Fri 08:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Data Provided By:

Commercial Construction Loan

A commercial construction loan is relatively easy to acquire if the applicant understands the terms and conditions that apply to these types of loans. Typically an applicant presents themselves to the lending institution armed with the following information.

Financial Statement - the stronger the financial statement is, the easier it is to acquire the financing. It is prudent to have an accountant attest to the accuracy of the statement and to include any appraisals of assets which will confirm their present value. Cash on hand is always critical, but the liquidity of assets is also an important factor in determining financial strength. Banks and lending institutions have a number of measures that are used to determine financial strength, however the non-banker can easily recognize financial statement strengths and weaknesses. It is important to note that every financial statement has some elements of weakness but these can be overshadowed by a history of timeliness in meeting obligations or the strength of the business plan.

Business Plan – the business plan should clearly present the the reason for the construction loan . Obviously, if the construction project has a buyer or renters that are committed to the project the plan is significantly strengthened. The contract for potential purchase or lease agreements should be available to the lending institution and this type of documentation almost certainly reduces the risk and makes the lending institution more amenable to committing the funds. If the loan is for "spec construction" the plan needs to address the best and worst case scenarios to enable an assessment of the risk. One has to thoroughly complete their homework to provide a presentation of the plan that is thoughtful, thorough and realistic. The business plan must address the financial commitment of the applicant. The greater the commitment of the applicant the higher the chance of success in securing the loan.

The Loan - the loan is usually based on a loan to value (LTV) formula and may specify a time limit for completion. Anywhere from 5-25% of the total value of the construction may be required from the applicant. The stronger the financial statement and business plan the lower the financial contribution is for the applicant. Obviously, the strengths of these documents will affect the interest rate that will be applied to the loan. Typically a construction loan is written for the agreed upon amount and then "draws" are made on the account based on percentages or phases of completion. For instance at the 50% completion point the applicant will have used 50% of the money available on the loan. The lending institution will require evidence of the successful completion of each phase and may even dispatch an inspector to verify completion. The lending institution may require interest only payments to be made as the term of the loan progresses or they may defer interest until completion of the cons...

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