Loans

Industrial's Non- Profit and Faith Based Lending Services can help your organization maximize and enhance service and outreach to your constituents from working capital, to building acquisition or financing.

We have a long history of loans to churches for the acquisition and renovation of land and buildings, particularly those used for worship facilities. Email one of our loan officers today for additional assistance.

• SBA 504 Loans.  For applicants who have an interest in buying property, this program allows for the acquisition and renovation of owner-occupied real estate with as little as 10% down.  In the 504 program, the Bank extends a first mortgage equal to (for example) 50% of the total project cost.  Using the same example, SBA would provide a second mortgage for 40%.  The borrower’s contribution can be as little as 10% in many instances.  Please contact Godwin Agba for more information.

• Commercial/Residential Construction Loans

• Commercial/Residential Acquisition and Renovation Loans

• Land Acquisition and Development Loans

• SBA 7(a) Loans.  These loan are guaranteed by the U.S. Small Business Administration ("SBA"), usually up to 75%. For borrowers who do not have a strong secondary source of repayment usually required to obtain loan approval, a guaranty can help them obtain approval from the bank. Our SBA loan officers have years of experience making SBA loans to all sorts of businesses.

• SBA Express Loans. This product is a version of the SBA 7(a) loan, with a lesser guaranty percentage (usually 50%), but a quicker turnaround time due to the face that the bank is able to use its normal loan documents and procedures.

• U.S. Department of Transportation Short-Term Lending Program (“STLP”). This is another federal government program, patterned after SBA 7(a). Through the STLP, the Department of Transportation guarantees loans made by Industrial Bank to contractors and subcontractors on transportation-related projects, which could include a variety of contract types:highway or bridge con which are supported by the program are not solely limited to construction---the contract could be for financial/accounting services related to a transportation project, for instance. Carolyn Eubanks would be happy to help you with this type of loan.

• District of Columbia Collateral Support Program.  Applicants who are likely to qualify will be physically located in the District, with a majority of their work performed in Washington, DC, and which have District residents as the majority of their employees.  Contact Carolyn Eubanks for more information.

• Industrial Bank also offers a wide array of conventional lending products, that do not include the types of credit enhancement shown above, but only direct Bank financing.  These include:

  • Business Acquisition Loans

  • Equipment loans

  • Commercial real estate loans (for offices, multifamily apartment buildings, 1-4 family investment properties)

  • Working capital lines of credit

  • Secured letters of credit

  • Accounts Receivable Lines of Credit

  • Expansion Loans

  • Government Contract Financing 

  • Letters of Credit

  • Revolving Lines of Credit

  • Commercial Term Loans