Looking to Buy Participation Loans
Sioux Empire Federal Credit Union
Sioux Empire FCU in Sioux Falls, SD is looking to expand their loan portfolio by purchasing up to 90% positions in some consumer loans. We are not able to, nor interested in, participating with any commercial, business or agricultural loans. Our interest lies in fully-amortized, secured consumer loans, i.e. new/used cars or trucks or boats or campers or motorcycles with terms up to a maximum of 72-84 months. Variable or fixed rates would be considered. All other terms and conditions are negotiable on a case-by-case basis. To begin this mutually-rewarding partnership, contact Jeff Jorgensen, President at 605-275-1701.
Kansas City Credit Union
Fully amortizing consumer loans (new/used car, boat, trucks, campers, motorcycles), maximum term 72-84 months. Please contact Eric Jones, CEO at 816-921-6601
Member Business Loans
FEDCom Credit Union
FEDCom Credit Union in Grand Rapids, MI is looking to expand their loan portfolio by purchasing up to 75% positions in Member Business Loans. Maximum LTV 75%. Preferably 3 - 7 year Balloons. Maximum Loan for any 1 member would be $750,000. Please contact either Reid Lundeen, VP of Lending 616-364-7283 X 129 or Clint Holshoe, VP of Finance 616-364-7283 X 135.
New and used auto (direct only), 1st and 2nd residential property mortgages
MidUSA Credit Union
MidUSA Credit Union in Middletown, Ohio is looking to expand their loan portfolio by purchasing up $5,000,00.00 in consumer loans. We are interested in loans secured by new/used cars and trucks, and residential property (1st and 2nd mortgages) . Maximum term of 84 months on auto and maximum term of 360 months on mortgage loans. Fixed rate loans are preferred, however, variable rates may be considered.
Looking to Sell Participation Loans
Member Business Loans
Notre Dame Federal Credit Union
Starboard Media Foundation aka Relevant Radio, the largest Catholic radio network in the country (501c3 entity). Up to $8,750,000. $5,250,000 will refinance an existing participation loan. $3,500,000 of new funds to borrower to fund acquisition. Up to $2,500,000 of new participants needed. NDFCU will hold a minimum of $1,500,000 and up to $2,000,000. Existing participants are interested in $4,750,000 to $5,000,000 of the new loan. Minimum Participation amount $750,000. Refinance existing loan to provide up to $3,500,000 of new money. New funds used to acquire new radio station in Philadelphia, PA market. Strong historical cash flows from multiple diverse sources Collateral: 1) Assignment of proceeds from FCC licenses (Aggregate LTV will be < 70%); 2) 1st lien on station assets and RE 10 year term loan with 20 year amortization. Loan to be amortized via straight line method, not mortgage style. 1st 5 years fixed at 4.50%, less 0.25% servicing fee 2nd 5 years to be priced at then 5 year Treasury + 3.00%, capped at 7.50%, less 0.25% servicing fee Funding date: No later than July 31, 2015