Commercial Real-Estate
Torrey Pines Bank is ready to help you and your business purchase, obtain or improve real property. Our Commercial Real Estate Loans are term loans that are secured by income producing real estate for investors or owners, and are generally used to finance or re-finance real property.
Term Loans
Torrey Pines Bank offers a variety of options to finance or refinance Income-Producing and Owner-Occupied real estate. Our term loans are individually tailored to your financing needs and can have either variable or fixed interest rates for a term up to 10-years. These loans are secured by a first deed of trust on the property.
Construction Loans
A Torrey Pines Bank Real Estate Construction Loan is a non-revolving line of credit secured by real estate. The money is advanced through a flexible construction management process as funds, which disburses funds as needed. During the term of the loan, you pay monthly interest only on the outstanding balance. The dollar amount needed for these payments may be included in total costs so that you do not have to pay interest "out of pocket." Construction financing is provided for Office, Industrial, Retail, Multi-Family and Residential Subdivisions. Torrey Pines will also consider financing land acquisitions for future development purposes on a case by case basis.
Equipment
Torrey Pines Bank Equipment Loans are designed to provide you and your company with valuable financing alternatives. We offer virtually all types of equipment leasing and financing options, such as enhancing your technology needs, expanding your product line, or increasing your plant's efficiency. Our equipment financing plans are tailored to meet your needs.
Letters of Credit
A Torrey Pines Bank Letter of Credit can help your business secure the purchase of goods on a domestic or international level. Our lending professionals will help you structure your trade transactions to avoid the discrepancies and inconsistencies that can cause costs, delays and potential loss of business.
*Additional disclosures will be provided at account opening.
Residential Construction
Torrey Pines Bank specializes in Residential Construction Loans for the owner-occupant. We offer you the easiest, most flexible construction loan available to help you save money.
Construction Loan Features:
- Very competitive pricing.
- Professional assistance placing the permanent mortgage.
- Flexible construction administration programs.
- Interest paid monthly on the outstanding balance.
- There are no pre-payment penalties.
- Bank willing to finance a portion of land acquisition.
Basic Qualification Requirements:
- Good credit, as determined by our review of your credit report.
- Level of income that will qualify you for a permanent mortgage.
- The amount of the loan is enough to complete the construction of your home.
- Minimum equity of 15% of total project costs.
Qualified general contractor or owner-builders will be considered based on prior experience in homebuilding.
Revolving Lines of Credit
A Torrey Pines Bank Revolving Line of Credit provides the flexibility to take advantage of business opportunities as they arise. Your business can borrow, repay, and borrow again up to the original amount committed by Torrey Pines Bank throughout the life of the loan. This type of credit facility is typically repaid from your business' operating cash flow (i.e. the collection of receivables). You can use a line of credit to fund seasonal changes in inventory and receivables, take advantage of vendor discounts, or meet unexpected cash needs. Lines of credit are a cost effective way to borrow and repay what your business needs when you need it.
SBA
Torrey Pines Bank, recognized by the Small Business Administration as the top community bank SBA 504 lender in San Diego County for the fourth consecutive year, offers you a variety of financing options to streamline starting or expanding your small business operations.
Stimulus Package Eliminates Majority of Lender Fees!
Purchase Or Refinance Now! The U.S. Administration just confirmed that both borrower (1.5%)and lender fees (.5) on SBA-504 loans have been eliminated for any loan approved on or after February 17. These changes will help free up the secondary market for 504 first trust deed loans, increasing available capital for additional lending and allows for refinancing via 504s (existing debt not to exceed 50% of new project financing).
Overview:
- $3.6 billion in 504 debentures allocated to cover fees.
- Fee Elimination expected through December 31, 2009 or until fees exhausted.
*Please Note: SBA will not allow loans approved prior to February 17, 2009 to be canceled and resubmitted to avoid these fees.
Program Notes:
- It is retroactively effective February 17, 2009.
- Eliminates bank participation fee (all banks) and CDC processing fee.
- SBA will not allow CDC’s to cancel loan authorizations prior to February 17, and resubmit to eliminate these fees.
- SBA expects the elimination of these fees through approximately December 31, 2009 (this is based on a program level of $3.6 billion during this period).
- To learn more about this important announcement from the U.S. government please visit www.cdcloans.com.
Torrey Pines Bank Also Offers Commercial Loans
Torrey Pines Bank specializes in helping you purchase, obtain or improve real property. Our lending experts will tailor a solution to your exact needs, with an uncommon ability to provide you a quick lending decision. Term Loans: Choose from a variety of options to finance or refinance Income Producing and Owner-Occupied real estate, with variable or fixed interest rates for a term up to 10-years, secured by a first deed of trust on the property. Construction Loans: Non-revolving lines of credit, secured by property, advances funds to you for all kinds of construction including office, industrial, retail, multi-family, and residential subdivisions, and in some cases, land acquisition for future development purposes.
