Cohousing-L Mailing List: Re: Banks Who Financed Cohousing

[Steve Faber (steve]

Bank of Holland is funding Newberry Place in Grand Rapids

We shopped around to about 15 banks, about 10 would agree to meet  
with us after looking at our performa.  7 larger, national banks that  
had bought out local banks turned us down or gave us unreasonable  
terms (25% down, 100% presold). This happened after their local guys  
said it should be no problem, but as it went up the ladder the terms  
became worse and worse.  Finally, 3 locally owned banks gave us  
offers that were feasible and they were willing to work with us.

Steve Faber
Newberry Place



On Jan 27, 2007, at 8:43 PM, David Heimann wrote:

> Hi Zev,
>
>         The construction loan for Jamaica Plain Cohousing came from
> Wainwright Bank & Trust Company here in Boston.  They're a local  
> bank with
> a very good social record.
>
> Regards,
> David Heimann
> JP Cohousing
>
>
> Date: Fri, 26 Jan 2007 09:11:02 -0700
> From: Zev Paiss <zpaiss [at] comcast.net>
> Subject: [C-L]_ Banks Who Financed Cohousing
> To: cohousing-l [at] cohousing.org
> Message-ID: <6D0B53EE-8036-4CC0-AC7B-63BFAEAB5636 [at] comcast.net>
> Content-Type: text/plain;       charset=US-ASCII;       delsp=yes;      
> format=flowed
>
> Greetings,
>
> I am working with a builder in Florida who is needing the names of
> banks who have successfully funded cohousing projects. Please respond
> to this list so we can all have access to this list.
>
> Thank you!
>
> Zev
>
> Zev Paiss
> Abraham Paiss & Associates
> Building Sustainable Communities Since 1992
> 1460 Quince Ave. #102
> Boulder, CO 80304
> 303-413-8066
> Zev [at] AbrahamPaiss.com
> www.AbrahamPaiss.com
>
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