Looking for a Commercial Lender in Wisconsin
My business partner and I own several buildings / businesses in the Madison WI area. We have 2 purchases for business + associated real estate under contract totaling $11M purchase price and we can bring 10-20% equity. These businesses are doing better than break-even on day 1, are less than a 1.2 DSCR as-is, but have significant upside with proper management. Most existing staffing will remain in place but we will be replacing / assisting some of the management. We've been working with local banks for past purchases but they said that they are unable to loan on hairy deals right now and/or do not loan in the geographical region. We are looking for a new commercial lender who'd be willing to make our loans at 80-85% bank financing. Ideally this loan would be Interest Only for 12-24 months and then we could refinance / balloon. We'd be happy to discuss terms to make the lender comfortable. Does anyone know of any banks lending to experienced investors in Wisconsin for deals with some complexity / challenges?