Sterling Bancorp Completes Acquisition of $495 Million in Commercial Loans and Origination Platform – The balance of commercial loans and leases outstanding acquired was $495 million. STATEMENTS This release may contain "forward-looking statements" as defined in the Private Securities Litigation.
Loan amounts must be a minimum of $100,000 and no more than $2,500,000 to qualify. Excludes lines of credit, leases, Business Advantage products, franchise lending program loans, and practice solutions loans that are not commercial real estate loans. Subject to credit approval.
Private money lenders are non-institutional banks that issue private money loans secured by real estate assets. Private lenders are often referred to as hard money lenders, and private money loans are used to finance the purchase and renovations of investment properties.
Interest rates on commercial loans are generally higher than on residential loans. Also, commercial real estate loans usually involve fees that add to the overall cost of the loan, including.
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