Commercial Loans

Commercial Real Estate Loans:

• As a community minded financial institution, Pan American Bank specializes in financing a variety of commercial real estate. These properties may be mixed-use real estate (a combination of store fronts and residential apartments) or single use commercial real estate such as apartment buildings, warehouses, grocery stores, etc. The loans may be fixed interest rate balloon loans or revolving lines-of-credit.

Commercial Real Estate Purchases or Refinances:

• The loans may be for the purchase of these properties, refinances to lower payments, to restructure debts, or obtain funds for business growth / expansion or improvements.

Commercial Real Estate Lines-of-Credit:

• Our Line-of-Credit loans are typically provided for amounts up to 75% of the value of your commercial real estate. These loans have interest only monthly payments calculated on the outstanding balance of the loan for the number of days the funds have been used.

Commercial Letters-of-Credit:

• Pan American Bank provides letters of credit collateralized by CD’s on deposit with the Bank. The Letters-of-Credit may be written for amounts up to 100% of the amount of the Pan American Bank CD.

Contact Us:

• We absolutely want to talk with you and understand your commercial financing desires. Therefore, for more information, please call us at 773-254-9700.
• Click here to download a Personal Financial Statement Form    USA Patriot Act - Identity Verification

SBA 504:

• By using the 504 Loan Program, smaller sized businesses are able to access the previously inaccessible public capital market and secure long term, fixed rate financing for a good share of the cost of planned expansion projects.
• The low 10% down payment greatly assists growing businesses by preserving working capital for continued growth.
• The interest rate on SomerCor’s portion is an attractive 20-year fixed rate.
• The business has the ability to finance all project related furniture, fixtures and equipment.
• Soft costs can also be included in project financing. These include the following: appraisals, engineering and architectural costs, title searches, title and flood insurance, recording fees, zoning changes, environmental studies, permit fees, and other project related costs.
• The term of SomerCor’s loan more closely matches the life of the assets being acquired or improved.
• The private sector lender can more competitively position its own market terms and rates on 504 loan projects. Because the SomerCor loan is subordinated to the bank, the bank gets a first lien on all the assets with only a 50% loan to value.
• The 504 loan is fully assumable. If, during the life of the loan you decide to sell the project property, SomerCor’s portion of the loan can stay with the property, as long as the buyer qualifies under program guidelines.