Washington Financial Bank

Business Lending

Schedule a meeting with
a Commercial Loan Officer

Call 724.206.1108

At Washington Financial, consumers are not our only customers. Washington Financial also does business with businesses. Whether your business is a manufacturing company, a sales or service company, a real estate investment or development company, Washington Financial has the commercial loan products you need. Our commercial customer list includes for-profit and not-for-profit businesses. Our seasoned staff of Commercial Loan Officers can help your business structure a commercial loan that is right for your specific need.

Commercial Mortgage Loans

Mortgage loans are secured by commercial real estate such as apartment buildings and commercial office or industrial buildings, as well as land under development. Amortization periods are typically 15 to 20 years. Interest rates can be fixed for up to 10 years or can float based on The Wall Street Journal Prime Rate or other index.

Commercial Term Loans

Washington Financial offers a variety of term loans tailored to meet your needs. Term Loans are secured by equipment or other assets. Amortization periods are typically from three to seven years and interest rates may be fixed for the term of the loan or may float with The Wall Street Journal Prime Rate or other index.

Business Lines of Credit

These revolving lines of credit provide short term cash to support accounts receivable and inventory. Used by sole proprietorships, partnerships and corporations, they typically float with The Wall Street Journal Prime Rate. Interest is billed monthly and principal is repaid as cash is collected in the normal operating cycle. Lines may be secured by accounts receivable, inventory, equipment, other real estate or may be unsecured.

Development Loans

Development loans are lines of credit used to finance real estate development projects. Draws are taken from the line in order to fund development costs as these costs are incurred. Developments can be either residential or commercial projects. The loan is paid back from the sale of property once it has been improved and marketed. These loans are generally secured by the land being improved. Talk to one of our Commercial Loan Officers to find out more.

Bridge Loans

Occasionally, interim project financing is needed until the permanent financing can be put into place. Washington Financial makes these short term bridge loans for all kinds of companies for all kinds of reasons. Bridge loans can be structured as a single advance or as a multiple advance loan. The repayment for bridge loans is usually the permanent financing. Term, collateral, and rate, etc. are negotiable.

Letters of Credit

A letter of credit is a substitution of the Bank's name and credit for the client's name and credit. Washington Financial uses an “irrevocable” letter of credit, which cannot be canceled or amended without the agreement of all parties. The letter of credit is established with a loan agreement with the client and becomes the “liquidity” feature should the letter be called upon. Washington Financial offers irrevocable standby letters of credit and documentary letters often used as the method of payment in international transactions.