Facilities are financial assistance programs offered by banks and lending institutions to help companies. The main types of facilities are overdraft services, business lines of credit, term loans, and letters of credit. A facility is essentially another name for a loan taken out by a company.
They’re commercial term loans for apartment buildings or complexes. Chase provides term financing of $500,000 to more than $25 million to purchase or refinance stabilized apartment buildings with at least five units.
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