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Municipal Lending

North Cascades Bank is an active provider of financing to local governments across the State of Washington.  From simple terms loans for capital equipment to more complex borrowing solutions, North Cascades Bank and our dedicated municipal lender is here to help you.

What is a municipal loan?

Municipal loans, also known as bank loans or direct placements, refers to financing provided to State and local governments by a bank.  These obligations, referred to as bonds or notes, are secured by a pledge of either the full faith, credit, resources of the borrower (aka a “general obligation bond”) or specific revenues (such as a “revenue bond”).   Municipal loans are generally issued to finance capital projects and equipment. 

Why Municipal Loans?

Municipal loans may provide advantages for borrowers such as a simpler, faster process for issuing the financing, lower issuance costs (no rating, no cusips, no official statements to prepare), and greater flexibility in the terms and structure of the financing. 

Types of Municipal Loans

It’s a fact that public equipment and infrastructure is in constant need of funding for repairs, replacement, and improvement.  North Cascades Bank understands this and is committed to helping our local communities thrive and prosper.  We have a dedicated municipal lender with over 14 years of municipal lending experience available to find the best financing solution. 

  • Term financing for equipment, capital improvements, and infrastructure
  • Line of Credit for capital projects

USDA Interim-Financings

USDA Loans over $500,000 require the borrower to obtain interim-financing from a bank.  North Cascades Bank specializes in providing these interim-financings with competitive pricing, a high level of service, and the confidence of an experienced municipal lender walking you through the process. 

Meet our Municipal Lender