Description

ERG Commercial Real Estate is proud to present the recent closing of 158 Main Street, Huntington, NY 11743. ERG secured a loan for the borrower at a fixed rate for a 10 year fixed loan, renewable for another 10 years with a 25 year amortization period. ERG was also able to negotiate a custom prepayment option to allow the borrower to prepay the loan with minimum penalty. The borrower, an owner occupant, was concerned about transferring accounts to a new lender, which is customary for commercial and industrial loans at other institutions. Due to ERG’s network, the bank we worked with not only took on the loan, but also met with the client numerous times to ease their concerns. ERG ensured the process was as smooth as possible and exceeded the client’s expectations.