In Cheyenne, WY, recent commercial lending activities reflect a thriving landscape with the successful closure of 91 loans in the past 90 days. The loan amounts range from $75,000.00 to $6,000,000.00, with a focus on financing General Commercial properties, showcasing the city’s diverse real estate market.
The predominant property types financed in Cheyenne include:
– Vacant: 8 deals
– Single Family Residence: 53 deals
– General Commercial: 22 deals
– Residential – Duplex/Triplex/Quadplex: 3 deals
– Vacant – Commercial: 1 deal
– Multi-Family: 3 deals
– Agriculture: 1 deal
Leading Cheyenne’s active commercial lending scene are reputable institutions such as First National Bank of Omaha, Bank of America, Riverstone Bank, Huntington National Bank, and US Bank. Credit Unions and Regional Banks are prominent players, offering Loan-to-Value (LTV) ratios ranging from 70% to 65%. The typical interest rates start at 6.41%, demonstrating favorable terms for borrowers.
National Banks in Cheyenne exhibit robust capabilities, extending loans of up to $70M or even $100M+, with competitive terms and an approximate 0.75-1% origination fee. This underscores the city’s financial strength and the collaborative efforts of both local and national financial institutions to support commercial endeavors.
Cheyenne’s commercial lenders play a pivotal role in driving economic growth and development by providing tailored financial solutions to businesses and individuals across various property types. The diverse lending landscape ensures flexibility and responsiveness to the unique needs of the local community.
