Trade Organization Banking
Specialized Banking for Trade Associations.
Our exceptional combination of industry expertise, personal attention and customized solutions benefit a wide variety of property management companies, condominium and homeowner associations.
- Business Checking/Reserve Accounts
- Business Money Market
- Certificate of Deposit (CDs)
- CDARS® / ICS®
- Electronic Statements
- Major Repair or Replacement
- Lines of Credit
- Equipment Purchase
Cash Management Services
- Remote Deposit Capture
- Lockbox Service
- Secure Online Banking
- ACH Assessment Collection
- ACH Fraud Filter
EXCEPTIONAL PEOPLE | EXCEPTIONAL SERVICES
- Experienced bankers
- In-house processing
- Local decisions, prompt responses
- Local experts to take your call
Specialized for Homeowner Associations and Property Management.
Merchants Bank of Commerce’s exceptional combination of industry expertise, personal attention and customized solutions benefit a wide variety of property management companies and condominium and homeowner associations. Because our operation is entirely in-house, we can easily and efficiently offer customized lending products and services to meet your many needs, including:
- Major repairs or replacements
- Common area improvements
- Equipment loans
- Interim financing
We invite property management companies or homeowner associations to submit a loan request.
- Time in existence: 5+ years
- Minimum number of units: 16
- Collateral: First-position lien rights on all association assessment payments
- Association ownership: 50% or more
- Monthly delinquencies: Fewer than 10%
- Loan term and rate: up to 7 years, fixed or adjustable, based on loan risk
- Required reserves: 3 months operating expenses; personal guarantees not required
Loan requests involving commercial real estate include additional considerations.
Our loan representative can also explain the many programs available for management companies and associations that do not meet any of the above criteria.
All loans subject to credit approval.