PHOENIX -- While other lenders are pulling back in a tough real estate market, Desert Schools Federal Credit Union said it is moving forward with providing loans to either finance or refinance commercial property including professional offices, retail, warehouse, and industrial-zoned buildings.
"We're in a great position to finance commercial real estate loans because we have not been severely impacted by high delinquency rates," said Mark Olague, assistant vice president of business lending at $3 billion Desert Schools FCU.
The commercial real estate properties the credit union is willing to finance or refinance can be located in Maricopa, Pinal, or Gila counties in Arizona.
"The market might be tough right now, but Desert Schools is doing what it's always done--providing small business solutions for its members while serving as a trustworthy financial partner in good and bad times," Olague said.
Desert Schools FCU which earned the Better Business Bureau's Business Ethics Award in 2007, offers small business loans from $250,000 to $7,000,000.
"As a credit union, we're owned by our members, not shareholders and we finance our loans in house," Olague said. "As a result, we can provide fast, local decisions based on sound analysis and competent underwriting practices that are in the best interest of our members."