Washington First's lending staff has over 50 years of combined experience in commercial real estate lending. Whether you are a professional real estate developer, income property investor, or a business owner, Washington First International Bank is able to assist in all phases of your lending needs.
To find out how we can work with you to find the most effective solutions for your business, please call (206)525-8118
Business Lending Products
Business Lines of Credit
- Line of Credit - You can apply for a line of credit to help finance short-term needs or accommodate fluctuations in your business cash flow. Your line of credit can help pay suppliers, meet payroll expenses or pay taxes. Washington First offers flexible terms with a variable rate of interest tied to the Washington First Prime Rate. Credit lines are subject to annual renewal.
- Asset Based - Washington First offers revolving lines of credit secured by business accounts receivable and inventory. The term for this type of financing is one year with annual renewals. Interest rates are tied to the Washington First Prime Rate.
- Term Loan - Substantial equity in income-producing properties with existing first mortgages can be leveraged to provide liquidity and credit lines for your business. Often, it is not feasible to completely refinance an existing mortgage in order to provide liquidity; Washington First is flexible in structuring a loan secured by subordinate liens on income-generating properties. Developers and real estate investors and business owners have benefited from lines of credit secured by real estate equities, which enable them to have ready cash available for the right opportunities.
- Saving/CD Secured - Savings or Certificates of Deposit at Washington First can be used to secure a term loan or line of credit for your business.
Business Term Loans
A business can use a term loan for a variety of purposes. Use it to purchase equipment, make leasehold improvements or consolidate business debt. Terms can be arranged for up to seven years while real estate loans may be arranged for up to 25 years. Interest rates can be either fixed or variable.
Bridge Loans
A bridge loan can provide interim financing for your business or investment with repayment dependent on a specific event (usually a real estate transaction) taking place in the future. The normal term for a bridge loan is three to six months.
SBA Loans (7A & 504 programs)/ SBA EWCP
Washington First offers a variety of SBA loan programs to meet the needs of small businesses. Loans are available to purchase equipment, real estate or another business. Loans are also available for working capital and for import/export lines of credit. Maturities vary based on the use of the funds. Interest rates may be fixed or variable.
Income Property Loans
Whether you are purchasing or refinancing a commercial real estate property, Washington First has programs which are flexible and accommodating to meet the particular needs of the transaction. The Permanent term loans can be structured with varying maturities and amortization terms, depending on the property type and other factors.
Construction Loans
As a developer or builder, you need a bank that understands development and construction issues. Washington First has experienced loan officers and construction loan administrators who work closely with the borrower, developer, and builders. Inevitably when construction difficulties arise, it is important to have a bank that is knowledgeable about these issues and capable of working with you to solve the problems.
