New commercial loan in Wisconsin

[Joseph Hammel]

Hello BiggerPockets community. I'm looking to purchase a property in Eau Claire Wisconsin and I need to go commercial because of some specific issues in the property that will not allow it to get a secondary market loan. Are there any investors I'm here from the Eau Claire area I'm looking for a local bank or any bank for that matter that excels in commercial loans and has great rates and terms.

[Scott Rogers]

@Joseph Hammel  I know associated bank is there.  I have talked to them about conventional loans in my area and the rates seem in line with other lenders.  They do have a commercial footprint but don't know much about it.

[Joseph Hammel]

I had reached out to them already actually and unfortunately with this specific property I can't go conventional and their commercial rates are only good for one year whereas there are other options I've already found such a CCF Bank and Royal credit Union that offer 5 year fixed rates that adjust every five years with a 20 year amortization I'm just trying to see if I can find a lender that can possibly beat those guys.

[Ryan Iverson]

Charter Bank and People’s Bank would both have offerings for you as well

[Scott Schultz]

None of my go to's are there, but there is no reason you need a bank where the property is, or you need to set appointments and go shopping for your loan. If there is someone you already work with, be sure to ask them first. Someone mentioned Associated, Be Careful, Associated screwed a lot of people when they needed a bunch of commercial off their books, around 2011 or so, the didnt renew, and didnt give adequate time for many of their customers to find alternate funding, I was a listing broker for their REO's at the time and even the Asset Managers said it was pretty crappy what they did. doesnt mean they will again, but be cautious.

[Kelly A.]

i'm more into residential but u could try Charter, Westconsin Credit Union, and Northwestern State bank... u may even wanna try Citizens bnk

[Joseph Hammel]

Update.

Turns out I can go with a conventional 30 yr after all. The banks/ credit unions that I called initially all have overlays that didn't allow two sfh on one parcel. I found a lender that will. https://briancottrill.leader1.com/

Thanks to my agent as well for referring us to him!

[Austin Siewert]

Citizens State Bank or Merchants are the two best in La Crosse area

[Kelly A.]

 old wisdom...keep serch til u find one... good job