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Longstanding Washington Credit Union discovers new opportunities in commercial real estate lending

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Longstanding Washington Credit Union discovers new opportunities in commercial real estate lending

Seattle-based Inspirus Credit Union opens Commercial Real Estate Lending Division

PR Newswire

SEATTLE, April 17, 2018 /PRNewswire/ -- As economic expansion continues across America, Washington State remains the crane capitol of the United States due to the increase in commercial construction activity.

Seattle-based Inspirus Credit Union (pronounced inspire-us) opens Commercial Real Estate Lending Division to support the increase of construction in Washington State.

In 2015, Inspirus Credit Union started a Commercial Lending division to support the increase of construction building and development in Washington State. The Commercial Lending team at Inspirus has a combined 46 years of industry experience.

"We have capital to lend to businesses that would like to own their own building, and to individuals that are seeking to invest in commercial real estate," said Inspirus Credit Union Commercial Lending Administrator Bob Niles.

With loan amortizations of 25 to 30 years, and loan maturities of up to 15 years, Inspirus provides financing opportunities for investors and business owners without the worry of refinancing as often.

Inspirus offers competitive rates for commercial real estate loans for a variety of property types, including multi-family, office, retail, and light industrial. Inspirus will lend on properties throughout Washington and a few surrounding communities.

"Utilizing the SBA 504 loan program, we can finance a building that the business will occupy with usually only a 10% down payment," said Niles. "This allows the business to conserve their cash and keep the balance invested in the business itself. Another benefit is the SBA's debenture is at a below-market fixed rate for 20 years."

Inspirus Credit Union offers a variety of business loan opportunities at competitive marketplace rates. With commercial real estate loans from five to 30 years, Inspirus has a wide variety of clients to serve. Click here for more information and to contact Bob Niles.

About Inspirus Credit Union
Inspirus Credit Union (pronounced inspire-us) is where banking benefits education. When members use Inspirus for their financial services, they are furthering the credit union's mission and increasing contributions to Washington's education community. Nearly 80,000 member-owners share a passion for education that connects them to Inspirus and Washington classrooms. The credit union is a not-for-profit financial institution that returns earnings to members through lower loan rates, higher returns on deposit, and donates time, talents, and dollars to the communities it serves. With $1.2 billion in assets, Inspirus operates branches in Seattle, Spokane, and Lynnwood. Inspirus Credit Union is a 2017 winner of the Puget Sound Business Journal's Corporate Champion Awards, honoring their contributions to education. For more information, visit inspirusCU.org.

Education, our passion. Giving back, our promise.

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SOURCE Inspirus Credit Union

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