Commercial Banking
Success Stories
Reach your goals
Out-of-State Loans with Ease and Speed
Problem
Sun Development and Management Company needed a construction loan for a hotel project located in another state. It’s often more time-consuming to obtain financing for an out-of-state property. However, if this development company could close a loan quickly, they would save hundreds of thousands of dollars.
Solution
Focusing on hotel and motel lending since 1993, NRB has been able to develop good relationships with appraisal, title and environmental companies.These relationships give NRB the ability to provide a quick turnaround on construction loans, wherever the property is located.
Results
The deal closed in less than 30 days, giving Sun Development and Management Company the ability to negotiate a lower purchase price. That was in 1995. Their portfolio now includes over 25 hotel properties in nine states.
The rapid expansion of this company can be credited to the quick response they receive from NRB.
Bank Relationship Enables Construction Firm to Prosper
Problem
Ten years ago, Keraleon Builders, Inc., was a small construction company with big plans. The firm wanted to focus more on developing commercial properties – specifically gas stations and convenience stores – but repeatedly needed loans to purchase properties.
Solution
Keraleon got a loan to develop a property from NRB. For comparison purposes, the company got their next loan at another bank. The construction company realized it was a waste of time to work with any bank but NRB. Since NRB keeps information on file from previous loans, they can react quicker to a company’s request for financing. To save even more time, Keraleon now uses NRB’s appraisers to evaluate properties prior to purchase.
Result
Developing a personal relationship with NRB has enabled Keraleon to grow into a business that generate close to a million dollars in sales annually. The firm attributes 90 percent of this growth to their partnership with NRB.
