Rhode Island Commercial Lending

[Thomas Young]

Hello all! I was wondering if anyone had any recommendations on a commercial lender in Rhode Island, more specifically for a property I'm looking to finance in Providence. 

Thank you in advance!

[Anthony Thompson]

@Thomas Young if you mean banks, for commercial loans in RI I’ve had good experiences with BankNewport and Pawtucket Credit Union.

If, by commercial, you mean 5+ apartments, I think you’ll find most banks love to lend on that asset. They know it, they understand it, and they’re not constrained by the usual consumer regulations on residential loans so they can negotiate terms more creatively.

By the same token, because there are more points of negotiation, it definitely pays to shop around and get competing bids for your loan business.