Commercial Construction Loan Latrobe PA

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

First Commonwealth Bank - Latrobe Branch
(800) 711-2265
2501 Sharky's Drive
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. 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. No surcharge fee at Allpoint ATMs or Freedom Alliance ATMs.
Surcharge fee: Surcharge-free ATM access is available at over 40,000 Allpoint Network ATM and all First Alliance ATM locations.
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Citizens Bank - Eaton Road Branch
(877) 360-CIRC
2841 Ligonier Street
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $20.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $3.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
First National Bank of Pennsylvania - Latrobe Branch
(800) 555-5455
1001 Ligonier Street
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $9.00. 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. (Fee does not apply to all accounts.)
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Northwest Savings Bank - Derry Branch
(877) 672-5678
370 W. Governor Road
Derry, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $5.00. See institution about how these monthly fees can be waived.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

Data Provided By:
First Commonwealth Bank - New Alexandria Branch
(800) 711-2265
8291 State Rt. 22
New Alexandria, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. 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. No surcharge fee at Allpoint ATMs or Freedom Alliance ATMs.
Surcharge fee: Surcharge-free ATM access is available at over 40,000 Allpoint Network ATM and all First Alliance ATM locations.
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
PNC Bank - Latrobe Branch
(800) 762-5684
1032 Latrobe 30 Plaza, Suite 400
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. 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 on your first two withdrawals each month by maintaining an average balance of $2,000.00 between your 'Spend' and 'Reserve' Accounts.
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact PNC Bank for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
First National Bank of Pennsylvania - Unity Township
(800) 555-5455
3891 Route 30 East
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $9.00. 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. (Fee does not apply to all accounts.)
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Citizens Bank - Latrobe Giant Eagle Branch
(877) 360-CIRC
400 Mount Laurel Plaza, Us Route 30
Latrobe, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $20.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $3.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
First Commonwealth Bank - Derry Branch
(800) 711-2265
200 South Chestnut Street
Derry, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $10.00. 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. No surcharge fee at Allpoint ATMs or Freedom Alliance ATMs.
Surcharge fee: Surcharge-free ATM access is available at over 40,000 Allpoint Network ATM and all First Alliance ATM locations.
Services
Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
First Niagara Bank - Pittsburgh Street Branch
(800) 421-0004
800 E. Pittsburgh Street
Greensburg, PA
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $1.00 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.)
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact First Niagara Bank for details.
Services
Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
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...

Click here to read the rest of this article from GlobalBx