Commercial Real Estate
About Commercial Real Estate Finance
Our Loan Program
At Nevada Federal Credit Union we have designed our commercial real estate lending programs to provide our members with features and benefits that exceed those offered by the traditional lending institutions.
Our Service Area
Nevada Federal Credit Union has branches that are located in Las Vegas, Pahrump, and Reno. This provides us with the opportunity to provide commercial real estate finance in both southern and northern Nevada.
Portfolio Lending
Unlike traditional lenders, we originate, underwrite, process, and service our loans for our own portfolio. Our members have the flexibility to pay off a loan, in part or in whole, at any time without a prepayment penalty.
Loan Purpose
Our lending programs apply to the purchase of commercial real estate or the refinance of commercial property. Lending decisions are based on the understanding of each member’s financial needs, the financial analysis of the collateral securing each loan, and the financial strength of the guarantors.
Borrower and Guarantors
The borrowing entity may be an individual, a corporation, a limited liability company (LLC), a general partnership, or a trust. We will require that the principals also provide their personal guarantee on the loan.
Lending Programs
Nevada Federal Credit Union has designed its lending programs to provide financing for the following properties:
- Apartment
- Office
- Industrial
- Retail
- Self Storage
- Manufacturing
- Flex Space
- Single Use
- Single Purpose
- Owner Occupied
- Investment Property
- Plus Much More!
Financial Information
A current financial statement and two years of tax returns to include K1s on each borrower/guarantor. If the borrower is a business entity, please provide a copy of the articles of incorporation/partnership and operating agreement or copy of the trust agreement.
Property Information
We will need two years of income and expense statements, a current rent roll, copy of all leases, and a copy of the fire insurance policy on the subject property.
Third Party Reports
The following third party reports will be required to complete the loan request, obtain loan approval, and fund the loan. The borrower will pay for the following items:
- MAI Appraisal
- Phase I Environmental Report
- Escrow and Title
- UCC Search and Recording
- Flood Search/ Flood Insurance (if required)
- Credit Reports
Loan Features & Benefits
Loan Size
Nevada Federal Credit Union offers commercial real estate loans from $500,000 to $10,000,000.
Interest Rates
We offer both fixed and variable interest rates that are extremely competitive.
Loan Maturities
Loans are written with 1-year to 10-year maturities.
Amortization
We offer loan amortization of 15-years to 30-years.
Loan to Value
The Credit Union will loan up to 80% of the appraised value or the purchase price, whichever is less.
Prepayment Penalty
Our loans do not include a prepayment penalty, so you can reduce the principal amount of the loan early or pay the entire loan off in full prior to maturity.
Reserve Requirements
As a general rule, we will not require reserve accounts for taxes, insurance, or maintenance contingencies as part of our loan requirements.
Assumable
Our loans are assumable by a qualified buyer of the commercial property. To assume a loan, the applicant must qualify as a member of Nevada Federal Credit Union and meet our underwriting requirements.
Department Information
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Robert LaJoie serves as the Director of Business Lending within the Commercial Real Estate Department. Bob received his Bachelor’s Degree from Clarion University.
Bob has been actively involved in advertising, marketing, underwriting, compliance and direct lending for commercial and residential loan products since 1978. |
Nevada Federal Credit Union has designed and implemented a commercial real estate lending program for its member that is comparable to the best institutional lenders in the country.
(702) 641-4368
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History