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Commercial Real Estate Loans

Our local Business lending experts make it simple, fast, and affordable.

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  • Financing for owner-occupied or investment properties
  • Local expertise and fast decisions made right here in RI
  • Personalized service from our commercial lending experts
Financing for owner-occupied or investment properties
Local expertise and fast decisions made right here in RI
Personalized service from our commercial lending experts
Business Express Loans SBA Loans Business Term Loans Business Lines of Credit Commercial Real Estate Loans Business Credit Cards

Put your plans into motion with local financing you can trust

From office buildings to mixed-use properties, WCCU provides flexible financing for Rhode Island business owners ready to grow.

Why choose WCCU? We offer:

  • No application fee
  • Up to 30 year terms with no balloon payments
  • 80% loan-to-value (LTV) for purchase or refinance
  • Up to 80% loan-to-value (LTV) for owner and non-owner occupied
  • Local appraisals for faster, more affordable closings
  • Local decision-making and personalized guidance from start to finish
  • SBA approved lender
We also offer Business Lines of Credit, Business Term Loans and SBA Loans.

Speak with one of our Commercial Lending Experts:
 

Kathryn Tracey

Commercial Relationship Officer
Office: 401.637.4436
Email: [email protected] (Please note email is not secure)

Shannon Melchione

Commercial Relationship Officer
Office: 401.792.4973
Email: [email protected] (Please note email is not secure)

FAQs

  • Commercial Properties
  • Any property owned by a real estate holding company
  • Residential properties with more than 4 units
  • Mixed-use properties
Average of 45 days, if non-SBA.  If SBA, 90 days or greater.
As little as a 20% downpayment.  However, some SBA programs only require a 10% downpayment if traditional financing is cannot be not granted.
Every application is different, dependent on the type of application and the purpose of the transaction.  At least the last two (2) years of financials, appraisal, environmental reports, Personal Financial Statement (aka PFS), Debt Schedule(s), P&L Statements, and Balance sheets.  Financials are required for entities with 20% or more ownership interest in the Borrower.
  • Any business entity
  • Multi-unit property (purchase or refinance) with over 4 units
  • Mixed-use properties
No, but a membership needs to be opened prior to closing.
Business Term Loans
Tap into a loan that delivers for your business.
Explore Loans: Business Term Loans
 

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        Westerly Community Credit Union is a full-service credit union with Rhode Island branches in Westerly, Richmond, Wakefield, and Coventry.

        The experience was incredible.  Barry was amazing.  Barry cares about my business and making sure I have what I need to succeed.  Working with Barry felt like working with family.  I have never had a banking experience like this one.  I am so incredibly grateful.
         
        David T. of Wakefield
        Ask for Shannon if you need business funding, she was excellent! She helped me with a couple of business loans. The process was quick, easy, and cheap. That was just what I was looking for. Scott is also a huge help if you end up talking to him!
         
        Frank A. of Coventry
        From start to finish, Shannon was a pleasure to work with. With competitive rates, a simple process, and quick closing, it was an easy decision to obtain my business loan with Westerly Credit Union. The entire staff at the Coventry branch was supportive, patient, and accommodating, making the process seamless. I look forward to my continued work with them.
         
        Kendra C. of Coventry
        Thank you so much to Shannon & Scott at the Coventry RI branch of WCCU! My husband & I learned about their fantastic rate promotion for money market accounts offered. We love the personal service and enthusiasm of them both. Scott is so knowledgeable about all of the WCCU products, so our account set-ups were a breeze. He navigated me through the phone app set up. You can tell right away that Shannon, in the Business Development Office of WCCU is an expert in her commercial lending department with her depth of experience in the banking industry of over 20 years. We felt very confident opening accounts at Westerly Community Credit Union in Coventry with Scott and Shannon always available to help with questions on site or over the phone. And wow, we really like the new Coventry branch, so convenient off the highway!
        Martha C. of Coventry

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