Commercial Real Estate Loans
The strategic use of commercial real estate is a key component of a successful business today. Whether for purchase or refinancing, First Commonwealth's real estate loans give your business the ability to:
- Renovate existing facilities
- Purchase other buildings
- Develop additional sites
- Determine the mortgage structure that best suits your needs
Along with our financial experience, First Commonwealth will work with other real estate professionals, such as architects, engineers, contractors, and appraisers, to assure your real estate transaction is done properly.
Construction and Development Loans
Construction and Development loans require an intense scrutiny and attention to detail beyond the normal credit evaluation. In fact, many banks elect not to make such major funding available simply because of the details involved.
At First Commonwealth, we realize that building construction, major renovations, and real estate development represent extremely important steps in the growth of any business or corporation. That's why we are committed to providing the controlled financing our business clients need to complete their construction and development projects.
Before we secure a loan, there are several conditions we require to be met. Issues may include:
- General contractor
- Performance Bonds
- Approved draw schedules
These requirements help establish a foundation of security as we process the loan.
First Commonwealth provides Construction and Development loans when there is evidence of the economic or utility value to the completed facility. As part of our terms and conditions, we'll monitor the progress of the project with on-site inspections to ensure the project is moving forward appropriately.
This "hands-on" approach is just another aspect of our Total Solutions Financial Management (TSFM) approach. Through TSFM we can provide integrated solutions that help your company succeed and grow.