About us
AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1998.
Who We Serve
AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1998.
What is One Way for an Entrepreneur to Decrease Risk? Focus on Finance
/in Press4 Reasons Credit Union Customer Service Exceeds Client Expectations
/in InsightsFrom personalized connections to lower fees and higher returns, credit unions provide a client experience like no other financial institution.
As a seasoned commercial lender who partners with hundreds of credit unions to provide loans, AVANA CUSO has a deep understanding of the advantages credit unions provide their members. While the list includes qualities like higher interest rates and insured deposits, one of the most impactful benefits credit union members experience is superior customer service. Credit unions provide advanced client experiences through more personalized interactions, training opportunities, ownership rights and profit returns—all of which we’re detailing below.
Faster, Live Connections
Whether you go into a physical location or call the 1-800 number, it’s quick and easy to access a live customer service representative. In addition to providing customer service help during regular business hours, most credit unions offer assistance 24 hours a day, seven days a week.
Many credit unions across the country have incorporated live chat options into their online banking and have designated call centers for each department. In most cases, customers merely need to enter their account number, and they’ll be transferred to a live representative, who is ready to help with the issue.
Other financial institutions, such as big banks, internet banks, or large-scale insurance companies, simply don’t offer the same level of one-on-one, fast service. When you call such institutions, you’re likely guided through an automated interaction with artificial intelligence, which may or may not understand your needs to quickly help you address and rectify them.
Personalized Education & Training
In addition to the basic checking account or credit card services credit unions offer, they also provide education and training for complex financial issues. Many credit unions employ financial advisors or financial wellness coaches to personally guide members toward financial health and wellness — both personal and business-related. Some credit unions provide resources and programs about important financial topics such as higher education financial aid, credit reports, and long-term post-retirement financial security.
Member Ownership Stake
When you become a member of a credit union, you also become a co-owner. That means you have a say in how it’s run, what services and programs are offered, and how to best serve the community. Every member can vote in credit union board member elections and other surveys. Voting ensures members dictate the type of customer service they receive, leading to a generally more personalized, collaborative and positive environment.
Lower Fees & Higher Returns
Credit unions are nonprofit organizations, so any profits are returned to the members. Those profits come in the form of lower fees and higher returns, making for more profitable members. Members can enjoy high interest rates on savings accounts and certificate of deposits (CDs). Plus, credit unions tend to have fewer and lower fees than other institutions. Additionally, select credit unions have little to no overdraft fees.
About AVANA CUSO
Established in 1998 and headquartered in Simi Valley, CA, AVANA CUSO offers competitive and collaborative commercial loans. For the past 20+ years, we have partnered with credit unions and brokers to connect them to investors across the United States. Additionally, we uniquely support and guide our partners through the entire full lifecycle of loans. AVANA CUSO is a proud member of the AVANA Family of Companies.
For more information about AVANA CUSO’s loan products, please call 1.800.894.8328 or contact us online.
What is One Way for an Entrepreneur to Decrease Risk? Focus on Finance
/in Real EstateHow to Get a Business Loan
/in Real EstateHow to Get a Commercial Real Estate Loan
/in Insights, UncategorizedAVANA CUSO Offers Professional Guidance on Applying for Commercial Real Estate Loans
Securing a commercial real estate (CRE) loan can be a transformative step for business owners and investors looking to grow their portfolios or expand their operations. However, the process can seem complex without a clear roadmap. At AVANA CUSO, we specialize in guiding borrowers through this journey. Here’s a step-by-step guide to help you understand how to secure a commercial real estate loan. Experienced commercial lenders carefully guide brokers, credit unions, and their borrowers through the commercial real estate loan process. Whether it’s finding the best rates and terms or simply understanding what a property is worth, AVANA CUSO has all the know-how for those looking to secure a commercial real estate loan.
The Most Important Step: Choosing the Right Lender for Commercial Real Estate Loans
Choosing the right lender for a commercial real estate loan is crucial because the terms, rates, and guidance provided can significantly impact the success of your investment. A reliable lender understands your business goals, offers flexible and competitive financing options, and provides personalized support throughout the process. They can streamline complex procedures, help mitigate risks, and ensure the loan aligns with your financial strategy. Working with an experienced lender like AVANA CUSO can make all the difference in securing the capital you need while fostering long-term financial stability.
What are Commercial Real Estate Loan Rates & Terms?
Commercial real estate loan rates can range from 2.2% to 18%, depending on the type of loan and the lender. AVANA CUSO offers competitive interest rates starting at 3.5%.
Commercial real estate loan terms generally start at 12 months and can run up to 10 years. AVANA CUSO provides loan terms ranging from five to 10 years, with amortization of up to 30 years.
Commercial real estate loan sizes can vary anywhere from $500,000 to north of $25 million depending on the asset. AVANA CUSO generally funds loans around $2.5-$5 million but has the network to facilitate a larger loan, around $25 million. The average loan-to-value (LTV) ratio spans 60% to 85%, with AVANA CUSO’s maximum LTV at 75%.
6 Steps to Securing a Commercial Property Loan with AVANA CUSO
To get a commercial property loan, take these six steps:
What SBA Real Estate Loans Are Available?
There are two Small Business Administration (SBA) real estate loans available: SBA 504 loan and SBA 7(a) loan.
Small business owners interested in long-term, fixed-rate financing of up to $5 million should apply for SBA 504 loans. To be eligible for this loan, a business must be a for-profit institution within the United States, have a net worth of less than $15 million, and have an average net income of less than $5 million after federal income taxes two years before submitting an application.
The SBA 7(a) loan is the most common of the two loan programs and is used to assist small businesses with special requirements. The 7(a) loan can be used when real estate is part of a business purchase, as long- and short-term working capital, to refinance current business debt or purchase furniture, fixtures, and supplies.
To be eligible for this type of commercial loan, businesses must be for-profit, considered a small business, operate in the United States, have invested equity, use personal assets before seeking finance, demonstrate a need, and more.
In the Know: Underwriting for a Commercial Loan
/in InsightsAVANA CUSO Answers a Popular Question: “What is Underwriting a Loan?”
As a commercial real estate lender, AVANA CUSO is no stranger to the loan underwriting process—a major step toward getting approved for a loan. AVANA CUSO is proud to say it has more than 20 years of experience producing efficient and accurate deliverables. This means that we’re a competitive and collaborative commercial real estate lender, who mitigates risk by executing thorough reviews and due diligence to conform to regulatory requirements.
As such, AVANA CUSO is often asked key questions about loan underwriting, including the following:
What Is Underwriting a Loan?
Underwriting a loan is one of the final steps of the loan approval process. During underwriting, the lender will verify various financial information, including income, assets, debt, credit score, credit history, tax returns, bank or credit card statements, property, pay stubs and additional documents. The underwriter will also assess the property you intend to buy and associated documents, such as appraisals or inspections. A commercial mortgage underwriter is a financial expert tasked with reviewing your finances and assessing the risk the lender will take on if they approve your loan. The underwriter typically works with you through your loan officer.
How Often Does an Underwriter Deny a Loan?
Whether or not your loan is denied in underwriting typically depends on your overall financial health and circumstances. Several major reasons your loan may be denied include:
What Are the Potential Loan Underwriting Process Outcomes?
The loan underwriting process can produce four possible outcomes.
How Long Does Loan Underwriting Take?
Business loan or commercial mortgage underwriting typically takes longer than home loan underwriting. The process can take as little as two to three weeks, but usually takes 30 days or more. Business or commercial real estate loan applicants should receive their final decision one month after submitting their application.