Salt Lake City, UT, January 26, 2013 --(PR.com
)-- Popular Commercial Lending Group (PCLG) has added a New Real Estate Line of Credit product to their agricultural loan product offering. The new product goes to 50% LTV with a 10 year draw period and can be converted to a 25 year fully amortized farm loan at any time during the draw period. Unlike other lines of credit (LOC's) offered by local banks, this line does not need to be renewed every year and offers more long term flexibility. During the credit crisis many local banks stopped issuing LOC's placing farmers in financial stress. The LOC is currently being offered at a floating rate of 2.75% interest.
PCLG is a nationwide agricultural lending group providing long term real estate based farm loans from $300K to $20 million to 70% LTV. Floating rates start at 2.75% and fixed rates at 3.55%. PCLG also provides commercial real estate capital for commercial real estate including office, industrial, multifamily, retail, hotel, and other asset types. PCLG is headed by Darin Young who acts as President and CEO. PCLG can be reached at (888)950-9339 or online at www.popularcommercial.com