Commercial loan to a private individual

Does anyone have a line on a lender that would do this deal?

Commercial property in Tremont(Cleveland) Ohio.
<$100K loan amount
70-80% LTV
W2'ed individual income(not lending to a LLC,Inc,Corp)

The loan would be for a 600sqft store front w/ a 600sqft second story apartment.  I am running it through PNC currently, but would like other ideas also.

Thanks for the help.
Paul
  • January 05 2011 - Tremont
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Answers (2)

I am an appraiser in NE Ohio, and I did some work in the Tremont area last year on a similar property.  Huntington may work with you on the deal, but it is pretty small.  I would suggest First Fed of Lakewood, Lorain National Bank, and/or Ohio Savings Bank.  Good luck!
  • January 05 2011
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I would recommend several possibilities for you.  PNC, Huntington, Fifth Third, Key Bank and ParkView Savings come to mind.  Let me know if I can provide any loan officer contacts for you.

  • January 06 2011
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