Real Estate Loans

• Commercial & Industrial
• Owner Occupied
• Investment Properties
• Office
• Warehouse
• Multifamily
• Hospitality
• Retail
• Special Use Properties
• Restaurant
• Car Wash
• Auto Repair

Business & Commercial Loans

• Equipment Purchases
• Lines of Credit
• Letters of Credit
• Inventory Purchases
• Debt Consolidation & Refinanciang
• SBA 7(a) and SBA Express Line of Credit

What we look for in reviewing and processing loans:

• Solid collateral – Spectra Bank can lend up to 80% of the appraised value of the collateral depending on the type of loan.
• Sufficient cash flow – Is the business or investment property stabilized? How long has the borrower been in business? Can the borrower afford the payments?
• Financially solvent guarantors – Is the guarantor willing and able to make sure the bank gets paid?

FAQs on Lending Services:

• How long does the process take? Commercial real estate loans typically take approximately 6-8 weeks to process. However, on a case-by-case basis, Spectra Bank can shorten this amount of time significantly.
• Does Spectra Bank finance start-up businesses or new franchises? Sometimes. Give us a call to discuss the details.
• Does Spectra Bank offer fixed rates? Yes, Spectra Bank offers fixed-rate periods of 1, 3 and 5 years. Give us a call for more details.
• Is there a prepayment penalty? Not at Spectra Bank.
• What amortization periods does Spectra Bank offer? Up to 30 years depending on the type of loan and collateral involved.
• What does Spectra Bank need from the borrower to get started? Personal Financial Statement, 3 Years of Personal Tax Returns, 3 Years of Business Tax Returns, Current Interim Business Financial Statements, Signed Authorization to check guarantor credit history.

‍