View Single Post
  #16  
Old Posted Aug 13, 2009, 1:54 PM
Stormer's Avatar
Stormer Stormer is offline
Registered User
 
Join Date: Jan 2008
Posts: 7,209
Quote:
Originally Posted by J_M_A View Post
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?
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.
Reply With Quote