In the Commercial Division of Statewide Bancorp we offer Project Finance Loans.
We are able to consider Project Loans in any of the 50 states, North, Central, and South America, Europe, and Asia.
Examples of projects we have considered are: Agricultural ( e.g. country to country food supply importation), City, State and Government Infrastructure, Residential real estate development, Multi-Family Development, Commercial real estate development, Legal Cannabis Business, etc.
We prefer loans in the range of $5M up to $1B, although we may go down as low as $3M in certain cases.
Your project must be viable, have solid principals, an independent market study, Global Valuation, a solid business plan with full financials, etc. For a land based project you must have a recent MAI appraisal from a Nationally recognized firm such as CBRE, Cushman & Wakefield, JLL (Jones, Lang LaSalle).
You must have Equity and Collateral to back up your loan. How much equity and collateral and the form of the each depends on the project type and level of risk.
All our loans are guaranteed by a Surety Bond. You must show proof of 2 to 2.5% ( depending on the insurer ) of your loan amount for the Surety Bond upfront payment once a Lender Term Sheet is issued.
Any fees except for the Surety Bond payment can be rolled into the loan.
Typical loan interest rates run 3.5 to 5% per annum.
For more information contact:
Chris Vogel: Cell +1 424 341 9249, email: email@example.com
George Baker: Cell: +1 949 933 2411, email: firstname.lastname@example.org