Quote:
Originally Posted by J_M_A
Heres a question kind of related to this project...knowing that there is supposedly a credit crunch right now globally, could a credit union finance a project of this magnitude? Or any major office tower that could take shape in our city?
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Unlikely, but it might be possible for them to syndicate the loan (i.e. split it among other credit unions or lenders). Most credit unions will not lend more than $15 million to a single client without syndication. THe hotel and condos are likely to be financed separately.