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Competition for Developer Loans Heats Up

ORLANDO—Still, some loans are far better than others.

Joe Taggart, senior vice president of the commercial real estate banking division with USAmeriBank, talked to GlobeSt.com about what buyers and developers should know. Joe Taggart, senior vice president of the commercial real estate banking division with USAmeriBank, talked to GlobeSt.com about what buyers and developers should know.

ORLANDO—During the recession, commercial real estate lending by banks in the Tampa Bay area was close to nonexistent, with very few loans being made to buyers and developers. But fast-forward to today and the market is cranking, fueled by a variety of bank lenders.

Clearwater-based USAmeriBank was an exception during the downturn, lending when most banks were on the sidelines. And that helped fuel the expansion of a bank that has grown to more than $3.6 billion in assets since being founded nine years ago. USAmeriBank continues to be extremely active, making loans for everything from convenience stores to self-storage facilities to major condo projects.

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Jennifer LeClaire

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