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What’s Closing in Commercial Lending Now? A Little Bit of EVERYTHING
Here is a look at some recent closings within the last month. I like to post these every month or two to just give you a feel for some of the things that are happening in Commercial. The last three (3) closings were a hodge podge of three (3) main types of loans that we specialize in-Alternative Loans, SBA Loans and Private Money Loans. Even our SBA deals are deals that were denied by other banks before coming to us. The deals we close almost ALWAYS have some hair on them that causes other banks to struggle but we have the resources to get it done for you. If you need a commercial loan closed, if actually getting the money is the most important thing to you…give me a call! I will screen the deal and pre-underwrite it for FREE. We are the only no-risk option in commercial.
Alternative Loan in GA…..
Type: This deal was actually brought to me by a bank. They had gone SBA but got denied and we did the loan at 80% for this purchase on our alternative loan product. It was a franchise that the SBA decided was NOT acceptable but we got it done with rates very close to the SBA rates she was getting from the local bank that denied her! EVERYONE was happy it got closed from realtors to borrowers. Our alternative financing saved the day.
Restaurant Partner Buyout
Type: The borrower had a good business but the partners were butting heads. They agreed to a partner buyout. We did this one on an SBA loan and again, it had been denied by AT LEAST one other SBA lender….we just get the deals closed! WE ALSO CLOSED A START UP SBA FRANCHISE LOAN IN TEXAS for a tough to finance franchise a couple of month ago. We are getting it done!
Unflagged Exterior Corridor Hotel cash out!
Location: North Carolina
Type: Unflagged hotels, (hotels that are NOT one of the normal brands but independent), are very tough to get done. Throw in exterior corridor and they get downright hard. Try to get cash out for improvements, working capital and you are trying to get a needle in a haystack. We got this one done and the borrower was happy. Took us an extra month or so to close but we got the deal to the closing table. In the end, that is what matters…..getting the client the money.
If you or anyone else you know needs commercial or business financing, give me a call
It costs nothing to call me and let me pre-qualify you and see what is available for you. Whether you own property now and want to refinance or pull cash out or you are looking to buy new property for investment or to house your business, the time is right to get financing-rates. Give me a call today! Commercial Capital, we are the place to go when the banks say no! Call Karen at 512-650-8630 today