WHAT ARE MY BUSINESS CONTRUCTION LOAN OPTIONS?
At Louisiana FCU, we offer two business construction loan options:
STANDARD CONSTRUCTION LOANS
A Construction loan is used for financing the construction of a commercial property or residential rental property.
RENOVATION LOANS
A Renovation loan is to renovate an existing commercial building or rental residential building.
SO WHAT'S THE DIFFERENCE?
Rates effective as of 1:04 P.M. CT February 6, 2024
Rates subject to change without notice.
Minimum Loan Balance
Starting at
$10,000
No maximum loan amount
Terms up to 15 years with amortizations up to 25 years
Interest only term up to 12 months then converted to permanent financing
* APR = Annual Percentage Rate
Loan terms based on underwriting
Rates are based off of Wall Street Journal Prime