Commercial Construction Loan Towson MD

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

SunTrust - Loch Raven Branch
(800) 786-8787
1608 Joppa Rd
Baltimore, MD
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 after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact SunTrust for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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BB&T - Towson Branch
(800) 226-5228
600 Washington Avenue
Towson, MD
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 after 4 uses per month. (Not all accounts provide this fee waiver.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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Susquehanna Bank - Joppa Road Branch
(800) 311-3182
1310 East Joppa Road
Towson, MD
ATM Fees
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee is waived if you have a balance of at least $2,500 after the withdrawal. (Fee does not apply to all accounts.)
ATM Fee Rebate Noe: Susquehanna Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

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PNC Bank - Ravenwood @ Giant Branch
(800) 762-5684
8100 Loch Raven Blvd
Baltimore, MD
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:
1st Mariner Bank - Loch Raven Branch
(410) 668-8660
1641 E Joppa Road
Baltimore, MD
Hours
mon: 09:00 - 17:00
tue: 09:00 - 17:00
wed: 09:00 - 17:00
thu: 09:00 - 17:00
fri: 09:00 - 19:00
sat: 10:00 - 13:00
sun: 10:00 - 13:00
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: No fees at ATMs in the MoneyPass network (12,000 ATMs nationwide).
1st Mariner charges a $2 fee each time you use an unaffiliated ATM. 1st Mariner also offers an option of paying a flat annual fee of $50 instead of paying this $2 fee for each withdrawal.
(Fee does not apply to all accounts.)
Surcharge fee: Surcharge-free AT
Services
Mobile & Text Banking, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided By:
Bank of America - Towson Drive-In Branch
(800) 432-1000
714 Dulaney Valley Road
Towson, MD
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.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
M&T Bank - Goucher Boulevard Shoppers Branch
(800) 724-2440
803 Goucher Boulevard
Towson, MD
ATM Fees
monthly fee: Monthly service fees range from $0 to $24.00. 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 after 4 uses per month. (Fee does not apply to all accounts.)
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact M&T 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:
PNC Bank - Towson Drive-In Branch
(800) 762-5684
21 West Pennsylvania Avenue
Towson, MD
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

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Bank of America - Towson Town Center Branch
(800) 432-1000
825 Dulaney Valley Road
Towson, MD
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.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided By:
Susquehanna Bank - Dulaney Valley Branch
(800) 311-3182
806 Dulaney Valley Road
Baltimore, MD
ATM Fees
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee is waived if you have a balance of at least $2,500 after the withdrawal. (Fee does not apply to all accounts.)
ATM Fee Rebate Noe: Susquehanna Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

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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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