Financial Services

Utah is one of the only states in the nation with the unique ability to accommodate industrial banks and large financial institutional operations. Falcon Hill is poised to offer ideal space with large floorplates, fiber-optic infrastructure and redundancy in order to accommodate leading financial services companies.

An industrial loan company (ILC) or industrial bank is a financial institution in the United States that lends money, and may be owned by non-financial institutions. Insured by the Federal Deposit Insurance Corporation, they are state chartered.

Companies that have set up industrial banks include UBS, General Electric Co., General Motors, Merrill Lynch & Co. Inc., Morgan Stanley, American Express Co. Target Corp, Nordstrom, Harley-Davidson, First Data, UnitedHealth Group, BMW, and Sallie Mae. As a prominent example, Warren Buffett's Berkshire Hathaway, Inc. announced plans to operate a Utah industrial bank to handle consumer loans for its R.C. Willey Home Furnishings stores. Coldwell Banker Commercial recently assisted with the Ford Motor Credit industrial bank facility requirement as well.