If you need working capital to carry inventory and/or accounts receivable, fund expansion, or purchase additional equipment to support ongoing operation, United Community Bank's Term Loans are available at competitive rates and fair terms.
As a major provider of residential home construction loans, United Community Bank utilizes a variety of financing strategies to assist residential builders of all types. With good credit, large subdivision contractors and small rural homebuilders alike can enjoy loans for terms up to 12 months at amounts up to 80% of the appraised value of the home to be built.
- Rates on construction loans are typically floating rates, based on Wall Street prime rate, and are very competitive in all our markets.
- Financing available for single family detached housing, "For sale" attached housing and condominiums, single family subdivisions, master planned communities, and acquisition, development, and construction projects.
- Financing strategy options include residential builder lines of credit, and "stand-alone" loans; land Acquisition and Development (A&D) loans/lines of credit; revolving facilities, master-note structures; and performance and financial letters of credit.
Commercial real estate loans are available for all types of business to acquire or build owner-occupied facilities including office, retail, industrial/warehouse, and multi-family properties. Both construction and permanent financing is available for desirable projects
- Construction financing periods vary with project complexity, but are typically one year.
- Permanent financing periods may extend to 20 years depending on amount.
- Rates vary from floating rates tied to the Wall Street Journal prime, or fixed rates for up to 5 years with subsequent adjustments fixed for additional periods of 3-5 years.
- Up to 80% of the appraised value of the completed project may be financed and personal guarantees of the owners are typically required of all loans.