Commercial Construction Loan Bozeman MT

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

Sterling Savings Bank - Bozeman Branch
(800) 772-7791
5 West Mendenhall
Bozeman, MT
ATM Fees
monthly fee: Monthly service fees range from $0 to $15.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee can be waived by maintaining a balance of $2,500.00 or more. (Fee does not apply to all accounts.)
ATM Fee Rebate Noe: Sterling Savings Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
U.S. Bank - Bozeman Branch
(800) 872-2657
104 East Main Street
Bozeman, MT
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 - North 19th Branch
(866) 245-3452
1400 North 19th Ave
Bozeman, MT
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:
US Bank - Bozeman Office
(406) 585-5222
104 E Main St
Bozeman, MT
Drive Up Hours
Mon 07:30 am to 06:00 pm
Tue 07:30 am to 06:00 pm
Wed 07:30 am to 06:00 pm
Thur 07:30 am to 06:00 pm
Fri 07:30 am to 06:00 pm
Sat 09:00 am to 12:00 pm

US Bank - Bozeman 19th Ave Office
(406) 582-9188
1460 N 19th Ave
Bozeman, MT
Drive Up Hours
Mon 07:45 am to 06:00 pm
Tue 07:45 am to 06:00 pm
Wed 07:45 am to 06:00 pm
Thur 07:45 am to 06:00 pm
Fri 07:45 am to 06:00 pm
Sat 09:00 am to 12:00 pm

Wells Fargo - Bozeman Branch
(866) 245-3452
211 West Main Street
Bozeman, MT
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 - Bozeman 19th Avenue Branch
(800) 872-2657
1460 North 19th Avenue
Bozeman, MT
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 - Bozeman
(406) 586-3381
211 W Main St
Bozeman, MT
Type
Branch
Office Hours
Mon-Fri 09:00 AM-05:00 PM
Sat 09:00 AM-03:00 PM
Sun Closed

Wells Fargo - Bozeman Mb
(800) 869-3557
211 W Main St
Bozeman, MT
Type
Motor Bank
Office Hours
Mon-Fri 07:30 AM-06:00 PM
Sat 09:00 AM-03:00 PM
Sun Closed

Wells Fargo - North 19Th
(406) 586-3839
1400 N 19Th Ave
Bozeman, MT
Type
In-Store Branch
Office Hours
Mon-Fri 09:00 AM-07:00 PM
Sat 09:00 AM-03:00 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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