Labor Lending
Bank of Labor’s Commercial Loan Division understands the critical financing needs of union entities and/or project sponsors. Our specialty is owner occupied real estate in the continental United States. Our team has in-depth industry expertise, takes a consultative approach to discuss your financing needs and tailors customized solutions to your circumstance. We analyze, underwrite, structure and close all loan transactions in a timely, streamlined method.
Equipment Loans
When new opportunities arise it often requires investment in equipment and vehicles with the technological advances that helps unions. We offer financing options with competitive rates, flexible terms and a lending team dedicated to helping serve unions.
MasterCard® Credit Card
Bank of Labor’s no annual fee and competitive rate MasterCard® is designed for union leaders and officers. Credit checks are not performed on individual cardholders, rather underwritting is performed on the union-entity, using its tax-ID. Receive fraud protection, online management to streamline expense tracking and restrict transaction categories for cardholders. Earn cash back in the form of a statement credit, reward points for merchandise, gift cards and more.
Commercial Real Estate Loans
Union entities and/or project sponsors can rely on our lending team for in-depth industry knowledge and expertise of structuring loans to advance their needs.
By taking a consultative and customized solution, we maximize efficiency and save time. We analyze, underwrite, structure and close high quality commercial real estate (yes this is correct — since we are talking about real estate) transactions in a streamlined method. Fully banked customers will receive a more competitive rate.
BUY, BUILD, REMODEL OR REFINANCE
- Purchase, build, modernize, or expand training facilities, union halls or office buildings
- Refinance existing loans on a property or building held with another lender
Commercial Line of Credit
Rather than liquidating your investment portfolio, consider utilizing a Bank of Labor Commercial Line of Credit to smooth out seasonal and sporadic cash flow needs. Quickly pay operating expenses, cover payroll or even purchase a vehicle with this type of loan. In addition, you only pay interest on what you owe while enjoying ongoing access to a revolving credit line as needed.
Emergency Loan Programs
(ELP/C-19 ELP)
Right now, does it seem like there’s a lack of empathy for the very real challenges the North American Labor Movement is facing?
That’s not how things work at Bank of Labor. For nearly 100 years, we’ve been focused on helping maintain Labor’s stability and security. That’s why, in collaboration with Labor organizations like yours, we’ve created an Emergency Loan Programs (ELP) that includes some very unique benefits.