What is Closing Nowadays

[Karen Schimpf]

Here is a look at some recent closings within the last 30 days. 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 franchise marketplace is particularly hot right now-it is a very active market for franchise financing. Of the 23 new loans we signed in process in January, 14 were franchise loans-an amazingly high number! Of the 14, 10 were start-ups! Most banks struggle with start-up financing but we have the resources to get it done for you. We also had some investor closings and some private money closings. The market is HOT and cranking on all cylinders. If you need a 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. Give me a call today at (512) 650-8630. Now on to some, but not all, of our recent closings......

If you want your commercial loan closed, give me a CALL TODAY @ 512-650-8630.

$8,560,500 Cash out refinance of 5 owner occupied properties
Where? Green Bay, WI
Type? This was an established business that owed $6 Million on 5 owner occupied properties spread out throughout the Green Bay area. His goal was to get as much cash out as possible. A successful, long standing company, but highly leveraged, the amount of cash out (over $2 Million) was too much for any local bank and the leverage that the company utilized made most regional and national banks skittish. An intense file with lots of returns, we took the time to break down the income and pitch the story and ultimately got it bought netting over $2 Million above the existing note for use by the borrower.

His was a conventional, NON-SBA loan.
Three Franchise Start Up Closings-for a BRAND NEW CONCEPT!
Where? California
Type? A new concept, Burgerim, with zero locations opened in the US at the time came to me last year needing financing for their franchisees. They were big internationally but had ZERO stores open in the US at the time and they were struggling to find anyone to do their loans. I took them on as a client, pitched their concept to multiple aggressive sources and slowly found some lenders willing to do 2 or 3 of them. We have just closed on 3 of them, have another 2 next week and 8 more already approved in the pipeline. We do a ton of franchise financing including first location, expansion for their second store and beyond and even debt consolidation loans. Franchises we have worked with run the gamut from Firehouse Subs to Jimmy John's to Papa John's and Subways to Ace Hardware, Jiffy Lube, Minute Maid and so much more. New concepts or established, we can get them done! Almost always, they get denied somewhere else and then come to us for financing. When the banks say no....we say YES! Give me a call today at (512) 650-8630!

$1,700,000 Rate and Term Apartment Refinance with a 3 year old Bankruptcy
Where? Sanford FL
Type? This was a referral from a commercial real estate agent. The current Freddie loan with Greystone was ballooning and he needed to either refinance quickly or sell. Our borrower did not want to sell this cash flowing property but with several foreclosures during the RE bust and a recent bankruptcy just 3 years prior, agency and bank financing was a no go. But we were able to close him with an Alt -a lender with decent 5 year fixed rates and a 30 year amortization which still allowed the borrower to keep the nice profits on the asset. Because this product does NOT balloon, there is no pressure on the borrower, as he becomes bankable again we can look to refinance him but for now he knows he has the property and won't face a balloon or forced foreclosure situation again.

$483,000 Stated Income refinance of a self storage facility
Where? Alabama
Type? Borrower was trying to refinance on an SBA 504 refinance but the SBA refused to approve the loan. Other 7A lenders passed as well on global cash flow and he was being pressured by a second note holder to pay the loan off or be foreclosed on. We took him to a stated income lender that overcame numerous problems to close the loan including a random judgement that clouded title for 2 weeks until it could be released. This closing cleared up numerous issues for the borrower and he has already referred another deal to us. We have the full gamut of financing options available, from bank quality, to alternative financing, to private money-WHEN THE BANKS SAY NO...WE SAY YES!

Wishing You The Best,


Karen Schimpf
Commercial Capital Ltd.
www.ApplyCommercialLoans.com

P.S. Don't forget about our SBA Turn Down Financing! Many people get denied on SBA loans and they believe that denial means they got shot down by the SBA. But the reality is that the bank turned you down. We can take that borrower, and because we have over 100 SBA lenders of all shapes and sizes, we can often get them approved for an SBA loan at the SAME RATES! In fact, over 90% of the SBA loans we closed got denied by another SBA lender first! So if you have been denied for an SBA loan, even if the bank blamed the denial on the SBA, give me a call. It is possible that we can still get you done. Call me today at (512) 650-8630. It costs nothing for me to preview your loan and if doable, I can get you terms in 48 hours! One call does it at (512) 650-8630.