Blog Archive

Monday, October 31, 2011

Lack of Lending Creates Loads of Uncertainty - CNBC

Lack of Lending Creates Loads of Uncertainty - CNBC
Since the market dropped in 2008, small businesses have struggled with a host of challenges, as consumers have cut back, operating costs have risen and banks have reined in lending. The challenges facing a small business owner today can be overwhelming. And those business owners don't expect things to get easier any time soon. . . .
keep reading about Small Business Lending

Business owners still need access to capital and Commercial Capital brings funding sources from around the country to the local business owner and investor to help keep this economy moving!  This is our mission and have been working to fund many different types of loan scenarios.  Here are several exsamples of recent closings so you can get a feel for what is happening in the market, what is closing.  The bad news is that the credit markets remain tight; the good news is that there IS money to lend out there-you just need to know where to get it.  This is a sampling of recent loan closings:

$2.4 Million purchase of Red Roof Inn
          Where: Greensboro, NC
Type:  This was an exterior corridor hotel which is increasingly tough to get financed but we CAN get these deals done.   We closed this loan with $200K in renovation money rolled into the loan!

$385,000 Refinance on an Oil Change Business!
          Where:  Garland, TX
Type:  This is another of the many loans that we closed where one of the big banks approved the loan, then dragged on processing the file and finally denied it after 3 months, leaving the borrower out to dry.  We came in and got the loan closed overcoming serious medical and divorce issues with the client.  Be careful shopping around for rates in commercial lending, the most important thing is getting the loan closed.  No one does that better than us!

$2,870,000 Refinance of Student Housing Apartments
          Where: West Olive, MI
Type:  YES, we lend in Michigan!  This was a student housing apartment complex that needed to refinance because of a note coming due.  We got them a FNMA loan with an incredible 10 year fixed rate and a 30 year amortization.  We don’t just do the tough loans; we can get the strong deals done at the lowest rates as well!  When you have all the funding sources of the entire country available to you-whether it is agency, life companies, credit unions or more, you can often get the very best rates and terms for your clients!

$600,000 Note Discount Deal on Self Storage Facility
          Where:  North Aurora, IL
Type: Declining property values and a slower lease up time then expected put this borrower in a financial bind.  He owed $1.6 Million and the property only appraised for $1 million.  Unable to make the payments, the bank offered him a deep discount but no one was willing to finance a guy who had not made a payment in almost a year.  But we stepped in with our own private financing and got him $600,000!  The bank accepted it and the transaction closed in less than 30 days.  In total, this borrower saved $1.1 million in principal and more importantly, this loan saved the property.  If you are in a bind, give us a call-we just may be able to help!

$263,000 Firehouse Subs Start-up SBA 7A loan
          Where: Columbia, MD
Type: Getting start-up money for a restaurant with no real estate involved is never an easy chore, even for a strong franchise like Firehouse Subs.  In any given state, less than 5% of the banks will even consider this type of loan. But we have the sources to do it in every state.  These loans typically roll in all the costs from franchise fees, to build-out, to equipment and even working capital.  We have done these loans both with SBA financing and conventional financing.  We close one or more of these pretty much every month.  If you are looking at buying a franchise or starting a business, we are the experts you need to talk to about getting the financing lined up!

$460,000 Hardware Store Purchase
          Where: Atlanta, GA
Type:  This was a straight purchase of a non-franchise hardware store that was already running.  This was another loan that got turned down by one of the big banks after they had initially approved it.  It is amazing to me how often that happens.  But we took the loan, found conventional/SBA financing at great rates and got the deal done!  Whether in GA or around the country, we are the source for all your commercial needs!
If you or anyone you know needs to close a commercial loan, whether it is a start-up for a franchise or a refinance of an office building…give us a call at 863-299-2929 or 813-833-3132.

Commercial Lending Pros
Commercial Capital Limited
Florida Real Estate & Commercial Loans, Inc.
Your #1 Source For Commercial & Business Financing
We can get deals closed.  Our Company Mission Statement is this, "Commercial Capital brings funding sources from around the country to the local business owner and investor to help keep this economy moving!"

1 comment:

Aiza said...

A business loan is a perfect option for most business needs. It doesn't matter what size a business is, almost every business owner at some point has to consider a loan. People can check the ABO Capital, It is secured business loans are specially designed to meet the needs of businesses.