Stearns Salaam Banking provides a suite of Islamic financing solutions for businesses and nonprofit organizations including:
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Commercial real estate financing – acquisition of commercial real estate including rental properties, office space, warehouses, retail property, and buildings for mosques and schools.
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Construction financing – financing for ground-up construction as well as improvements on retail, industrial, multi-family, and office space. We also provide construction financing for non-profit organizations like mosques and schools with flexible structuring options. The Stearns Bank Construction Team takes on the responsibility of draws, monthly budget reviews, change orders and other management services.
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Secured lines of credit – we provide secured lines of credit that can be used for working capital, to provide a financial cushion, or to fund growth and expansion strategies.
While we do not currently provide Islamic financing for personal homes, we can finance commercial properties and investment properties for rental income. If you are unsure of whether your financing need qualifies, please do not hesitate to fill out our contact form and a member of our team will reach out.
Our equipment finance solutions can be used for commercial equipment purchases across industries like hospitality, medical, and manufacturing.
Flexible terms and payment options are available to fit your unique business needs.
Salaam Business Banking helps your business or nonprofit organization's operations and financial management run smoothly and efficiently.
Salaam Business Checking is an interest-free account that can help with your day-to-day banking needs with no minimum balance requirement and no maintenance fees.
Salaam Business Market Savings allows you to earn interest-free, profit-based returns on your deposits. Funds are not invested in interest-bearing instruments and are kept separate from interest-bearing deposits.
Salaam Nonprofit Banking Solutions meet the operational needs of nonprofit organizations, like accepting donations, paying bills, and payroll, while remaining interest-free.
With Salaam Personal Banking, enjoy the benefit of convenient, accessible accounts that align with and honor your values.
Salaam Personal Checking is an interest-free account that can help with your day-to-day banking needs with no minimum balance requirement and no maintenance fees.
Salaam Personal Market Savings allows you to earn interest-free, profit-based returns on your deposits. Funds are not invested in interest-bearing instruments and are kept separate from interest-bearing deposits.
