Independence Bank makes commercial loans throughout the United States and U.S. territories, specializing in U.S. government guaranteed loans.
Independence Bank is known for structuring loans using combinations of equity, debt, and grant funds, to the benefit of the borrower.
“Our knowledge of the U.S. government-guaranteed loan programs and grant programs allows us to structure loans and bring them to fruition for our clients, even start-up businesses that most banks won’t even look at,” says Michael Sammartino, director of Independence Bank.
“We are thrilled to be able to offer loan proposals to quality businesses and government entities in the CNMI. Each loan signifies job retention and job creation which is the cornerstone of the economic recovery that the commonwealth and the United States needs today.”
Sammartino said Independence Bank’s issued loan proposals cover a wide range of businesses and infrastructure projects throughout the CNMI, including a power business, three renewable energy projects, two airline projects, a port expansion improvement project, and a farmers cooperative loan program, among others.
Says Sammartino, “Several of our loan proposals have already been accepted by various clients, and we are moving forward with the loan process. We look forward to funding these loans. We know others will soon be accepting our proposals. The real message is that Independence Bank is making business loans in the CNMI, and we welcome all loan proposals. We will be back in October, visiting clients in Rota, Saipan and Tinian, and we will continue to meet with clients during each of our quarterly visits. We will eventually be looking to open a loan office in Saipan to service our clients in the region.”
Independence Bank commercial lending can be contacted at 1-877-252-8583, ext. 318; or 401-471-6318; or email:[email protected].
