All Forum Posts by: Karen Schimpf

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What's Closing - SBA Loans!

Below are THREE (3) recent closings, all SBA. All Startups or new expansion. All done with less money down than the example above. WE CAN GET SBA LOANS CLOSED FOR YOU, We will help with the paperwork, it is a GREAT option to actually getting the money you need for a start-up or expansion of a business.

$556,000 Purchase of medical building and FF & E for the second location.

Location: Georgia

The borrower had an existing medical practice and wanted to buy a building and get furniture, fixtures, and Equipment, (FF &E), and working capital for a second location. We did the loan at $444,800 at 90% of the total cost. Actually, the purchase price of the building was $400,000 so we loaned her more than the purchase price! The deal came to me from the selling agent who knew me from other closings. Apparently, the borrower got denied by another bank and the seller's agent suggested me. We got it done, and the Realtors got paid. I am not even sure why it got denied at the other bank as the deal was not that bad, I get a lot worse done. But hey, I will take it. CERTAINTY OF EXECUTION at the same rate as the other guys...that is why you should choose us! Just saying.

$1,290,000 Healthcare Start-up Franchise

Location: California

A franchise start-up of a unique healthcare type franchise where the borrower had NO collateral. As discussed before, with no collateral even an existing cash-flowing business will struggle but we were able to get this start-up done with no collateral. We can go up to $5,000,000 with NO COLLATERAL on SBA loans. Most lenders are capped at $500,000 for business only without collateral but we can go to $5 Million as long as the numbers work. We are the SBA specialists...give us a call.

$749,000 Franchise Start-Up

Location: Florida

The borrower wanted to open an America's Swimming Pool Franchise. It was a start-up loan. The loan included working capital, supplies, inventory-everything he needed to be successful. On this one, we were able to do it with just 15% down. That is good on a start-up. The borrower had no experience in the field. With many lenders that can be problematic but we can do no experience on franchises as long as they have good credit, outside income, etc. WHAT MAKES US UNIQUE IS MY PROCESS- What I do is look at the strength of each borrower and match it with the lender that looks most favorably at that strength. For example, some lenders key on experience. Some on credit, some on collateral. I take the biggest strength of each borrower and match it with the lender that most favors that strength. There is no way the average borrower can know which lender is perfect for their strength-these things are not advertised. I know from sending hundreds of loans to lenders who likes what and I can match the borrower with the lender best suited to them in the marketplace. The rate is the same! It just takes the guesswork out of the equation.

If you need to close fast on your SBA or conventional loan, give me a call at 512-358-1511 today or get started by filling out this form!

Karen Schimpf

(512) 358-1511

[email protected]

www.ApplyCommercialLoans.com 

Two (2) weeks ago I went long in the stock market. I think we will see a rally for the next Two (2) months that will surprise people and likely take all the recession talk off the table….but it is a farce.

Underneath that, the pillar that has been holding up this economy..the small business owner who got flooded with EIDL money HAS pulled back. The Fed raising rates HAS finally hit this group. I am seeing it in different things….

You see, the middle class has been tightening their belts for a year but the small business owner was able to tap cheap government money via the EIDL loans and didn’t even have to make a payment for 30 months. But now they are having to pay it back, all their credit lines and credit cards and SBA 7A loans have shot through the roof with the aggressive Fed, and all of a sudden, they are tight. Hotels have been the biggest group hiring the last 6 months trying to staff up for an insane summer like last year and they just won’t get it. I look for them to be laying off people after the 4th of July doesn’t pan out. THIS WILL NOT SHOW UP UNTIL AUGUST. Until then, inflation will look like it’s coming down, growth will appear strong, and the Fed will look like they are successfully engineering a soft landing. The perception and the rising stock market will bring the $5 Trillion that is in Money markets back into the market and that will drive stocks higher…until the reality starts hitting in August and September. And it is more than just hotels and restaurants….

Construction lending has tightened. Higher rates and tightening banks WILL slow an economy down. I had a deal come across my desk last week where Lennar-one of the largest homebuilders in the country-were looking for financing help. I have had multiple deals cross my desk where DR Horton, another biggie, was involved and I couldn’t find anyone to touch. This bodes poorly.

I can go on. Bank failures got a lot of press at the time but have calmed down but all is not rosey. ZIONS has announced they are SHUTTING DOWN their wholesale operation August 4th. Zions was one of the few companies that kept lending all through the '08 recession-they tightened, but they kept lending. Now they are exiting…..this is NOT good. They will still exist as a bank but their wholesale division will be gone. They will accept apps through June 16 EXCEPT construction. They will honor LOI's signed by June 23rd. All loans must be approved by July 31.

This won’t get a lot of press in the media..but this is big. Zions was a major wholesaler for banks….that is one less option.

SO WHAT AM I DOING…..

As I said, I am going long in the market through the end of July then selling all long positions….I will likely short the market at that time. I will continue to be a big buyer of gold and silver.

As for my business, SBA loans are booming, I will keep writing them. If there is a bust come August and September, it is likely private money will become critical. It did in 2008. I expect the same now. We have Billions of money in our private money lenders on the lender list. So I will keep writing loans.

STOP living beyond your means if you are, keep cash on hand, keep working , but be ready. When it goes, it may be ugly and there may be a great need…hopefully, a need we can fill. With all disruption comes opportunity for those who are ready.

Until then, no one does SBA as good as us, so let’s keep writing it up!

Have a great week!

Karen Schimpf

Commercial Capital, Ltd.

O: 512-358-1511

E: [email protected]

L: www.linkedin.com/in/karenschimpf/

B: http://bizloansconnections.com/

W: http://applycommercialloans.com

P.S. DID YOU KNOW? That over 80% of the commercial loans I get have been denied somewhere else? Did you also know, that in ALMOST EVERY CASE, I am able to get them a rate like the one they were quoted at the bank that denied them? IT NEVER HURTS to give me a call and run your deal by me. I can review and underwrite your deal and get you approval in writing often in 72 hours and with NO COST TO YOU! What do you have to lose?

CALL TODAY at 512-358-1511

Call Karen today at 512-358-1511 to discus your commercial finance options. 

At Commercial Capital, SBA is quickly becoming the largest part of our pipeline, which is crazy because we have our own private money. But those deals are not as common as businesses expanding and growing. At least right now. Below are just some of our strengths in the SBA space……

• Loans with no collateral up to $5 Million

• Almost all our SBA loans got denied by other SBA lenders first

• Can do start-ups and expansions with just 10% down

• We fit the square peg in the square hole!

• We can do loans with no experience

• We can do loans with lower credit scores (below 620 w/real estate)

• Over 100 non-bank and bank lenders helps improve “bottle necks”

• WE HAVE FIXED RATE SBA 7A LOANS around 7%-FIXED!!!!

You risk nothing by sending me a deal you are struggling to get funded. It’s not getting funded anyway, why not give me a try?

https://flic.kr/p/24iGCW5

Two (2) weeks ago I went long in the stock market. I think we will see a rally for the next Two (2) months that will surprise people and likely take all the recession talk off the table….but it is a farce.

Underneath that, the pillar that has been holding up this economy..the small business owner who got flooded with EIDL money HAS pulled back. The Fed raising rates HAS finally hit this group. I am seeing it in different things….

You see, the middle class has been tightening their belts for a year but the small business owner was able to tap cheap government money via the EIDL loans and didn’t even have to make a payment for 30 months. But now they are having to pay it back, all their credit lines and credit cards and SBA 7A loans have shot through the roof with the aggressive Fed, and all of a sudden, they are tight. Hotels have been the biggest group hiring the last 6 months trying to staff up for an insane summer like last year and they just won’t get it. I look for them to be laying off people after the 4th of July doesn’t pan out. THIS WILL NOT SHOW UP UNTIL AUGUST. Until then, inflation will look like it’s coming down, growth will appear strong, and the Fed will look like they are successfully engineering a soft landing. The perception and the rising stock market will bring the $5 Trillion that is in Money markets back into the market and that will drive stocks higher…until the reality starts hitting in August and September. And it is more than just hotels and restaurants….

Construction lending has tightened. Higher rates and tightening banks WILL slow an economy down. I had a deal come across my desk last week where Lennar-one of the largest homebuilders in the country-were looking for financing help. I have had multiple deals cross my desk where DR Horton, another biggie, was involved and I couldn’t find anyone to touch. This bodes poorly.

I can go on. Bank failures got a lot of press at the time but have calmed down but all is not rosey. ZIONS has announced they are SHUTTING DOWN their wholesale operation August 4th. Zions was one of the few companies that kept lending all through the '08 recession-they tightened, but they kept lending. Now they are exiting…..this is NOT good. They will still exist as a bank but their wholesale division will be gone. They will accept apps through June 16 EXCEPT construction. They will honor LOI's signed by June 23rd. All loans must be approved by July 31.

This won’t get a lot of press in the media..but this is big. Zions was a major wholesaler for banks….that is one less option.

SO WHAT AM I DOING…..

As I said, I am going long in the market through the end of July then selling all long positions….I will likely short the market at that time. I will continue to be a big buyer of gold and silver.

As for my business, SBA loans are booming, I will keep writing them. If there is a bust come August and September, it is likely private money will become critical. It did in 2008. I expect the same now. We have Billions of money in our private money lenders on the lender list. So I will keep writing loans.

STOP living beyond your means if you are, keep cash on hand, keep working , but be ready. When it goes, it may be ugly and there may be a great need…hopefully, a need we can fill. With all disruption comes opportunity for those who are ready.

Until then, no one does SBA as good as us, so let’s keep writing it up!

Have a great week!

Karen Schimpf

Commercial Capital, Ltd.

O: 512-358-1511

E: [email protected]

L: www.linkedin.com/in/karenschimpf/

B: http://bizloansconnections.com/

W: http://applycommercialloans.com

P.S. DID YOU KNOW? That over 80% of the commercial loans I get have been denied somewhere else? Did you also know, that in ALMOST EVERY CASE, I am able to get them a rate like the one they were quoted at the bank that denied them? IT NEVER HURTS to give me a call and run your deal by me. I can review and underwrite your deal and get you approval in writing often in 72 hours and with NO COST TO YOU! What do you have to lose?

CALL TODAY at 512-358-1511

They Needed $3.9 Million to Create an “App”-We Got it For Them! AND ON AN SBA LOAN TO BOOT!!!!

That’s right, we just closed a $3.9 Million loan ALL WORKING CAPITAL, NO ACTUAL ASSETS for a group of guys that had created an algorithm in their insurance business that dramatically increased sales while lowering costs. They wanted to take this algorithm and make it an app for purchase. This is not a loan that any normal bank is going to do-SBA or otherwise-this is typically venture capital stuff. However, their existing business was super strong and cash flowed the loan even if the application failed. So with that business and the three (3) partners as guarantors, we were able to get it bought. Most banks can only do working capital or “airball” as some call it to about $500,000. Some to $1 Million. But we have NON-BANK lenders that can go to $5 Million unsecured-we can get it done!

Maybe you or a client have been denied by a bank and you are down because the bank told you SBA denied your loan. The chances are it was the bank, NOT the SBA that denied the loan. Most of the major SBA players are PLP which means they have delegated underwriting authority for SBA-they approve the loan, then just register it to get it an SBA loan number right before closing. It was likely the bank denied your loan and it never went to SBA. Why would the bank pass the buck and say that the SBA denied it? Because it easily shifts the blame and is easier for that sales rep in the bank to face the client with this “little white lie”-but it is rarely true. What is more likely is that your loan just does not fit the parameters of that bank. There is no way for you to know the parameters of the different banks, no bank advertises their credit committee tendencies, you can only know them if you send them lots of loans and see how they actually underwrite. Looking at almost 100 loans a month, sending them out constantly to be underwritten, and having done this for 14 years, I know which banks key on what. I can take the strengths of your file and put it with the lender that is MOST likely to do that loan. In so doing, I close over 80% of my pre-approvals. That is twice as high as the average bank.

IF you or someone you know is struggling to get approved SBA, don’t give up! Make one more call to me, at 512-358-1511 or click here to get started.

P.S. We just had our second-best month ever and are in the midst of possibly our best month ever this month! If you are in the market for a commercial or business loan, you risk NOTHING by giving me a call. See why we are so busy and what makes us different. From a live person answering the phone to quick 1-day approvals, you will see the difference-and often our rates are better than anyone else. You get the whole package with Commercial Capital. So give me a call today at 512-358-1511 or click here to get started.

https://flic.kr/p/D7zYy1

https://flic.kr/p/4bMyak

Here are Five (5) Pillars that lead to an excellent life. A life grounded and focused and peaceful….I have been focusing on these five (5) things for a couple of years now and they have dramatically changed my life. I have not perfected any, but I am much further along than I was and look forward to a wonderful future regardless of what happens around me. If you seek to grow or improve in these five (5) areas, I think you will be richly blessed.

Pillar 1: Love God. You can not take the spiritual aspect of life out of a man (or woman). The Spirit is life. Starting your day humbly thankful to a loving Heavenly Father has an enormously powerful impact on your day. We are spiritual creatures, it all starts here. Jesus himself said this is the first and greatest commandment…to love God.

Pillar 2: Love Others. An outward-focused life keeps depression away. Seriously, depression is an obsession with the self. To serve in a soup kitchen and see the people there, it is impossible to be depressed when you are serving others. Do it for them…do it for yourself. You will find more happiness, joy, and fulfillment if you spend most of your days focusing on adding value to others. It will be good for business too!

Pillar 3: Rest. A vacation, though nice, is not the kind of rest your life needs. God created a rhythm, a pattern to man…work six (6) days, rest one (1). We NEED it for our souls. It is called a Sabbath but it has been proven to have real health benefits…and it feeds your soul. I take Saturday as my Sabbath when I do not work, I do only enjoyable things and I have a long, easy morning communing and praying to God. This once-a-week ritual has changed my life. I strongly urge you to try it. Prioritize it. You can do it. If I could do it back when I had six (6) kids living with me, three (3) ministries to serve, husband duties, etc. then you can do it too… you won’t regret it!

Pillar 4: Work. We need to work. We need to have a place where we ply our trade or for the homemaker, a house to turn into a home. Not only do we need it for income and to live, but we also need it for our health and well-being. People who retire and truly stop working age rapidly. It is not good, we were created to work. Once you embrace it with the right heart, even a miserable job can become enjoyable. I didn’t want to be a Loan Broker, but it has blessed tons of people-including ME!

Pillar 5: Good Works. This is applying your unique talents and gifts to serving others. All of us have gifts, the Bible lists them in multiple passages, things we just seem to do well without trying. Some are natural leaders, some teachers, some are great at exhorting, some have incredible discernment, and some have the gift of empathy or hospitality. Weaving these things into serving others gives you true fulfillment, you are being used up, and you are living as your best self. This is where we arrive! Look inward and reflect and seek out what your unique gifts are and then be ready and open to use them wherever a door opens up They will open up. The world NEEDS your unique contribution…Start living!!!!

P.S.- If you are annoyed with bank delays or worse, bank denials, give us a call to discuss your commercial loan options! We offer 72 hour pre-approvals, more flexibility, and still have rates that usually beat the banks! It costs nothing to run a deal by me, so call me today at 512-358-1511 or get started by completing the form here.

P.S.S.- IT IS THE SEASON TO REFINANCE YOUR SBA 7A ADJUSTABLE LOAN. Most 7A loans have adjusted to between 9.5% and 10.5% and they will KEEP GOING UP as long as the Fed raises rates which looks like it will be a while based on recent inflation data. The SBA 504 loan is down at 6.5% and it is FIXED. Not going anywhere. That is 3-4% LESS THAN CURRENT SBA 7A RATES! HUGE. That saves you tens of thousands of dollars. Well worth a call to me to crunch the numbers and see if it will fly. One call, just FIVE (5) minutes, and we can determine your savings and get the ball rolling. Call me today at 512-358-1511 or get started by completing the form here.

Karen Schimpf

Commercial Capital, Ltd.

O: 512-358-1511

E: [email protected]

L: www.linkedin.com/in/karenschimpf/

B: http://bizloansconnections.com/

W: http://applycommercialloans.com

They Needed $3.9 Million to Create an “App”-We Got it For Them! AND ON AN SBA LOAN TO BOOT!!!!

That’s right, we just closed a $3.9 Million loan ALL WORKING CAPITAL, NO ACTUAL ASSETS for a group of guys that had created an algorithm in their insurance business that dramatically increased sales while lowering costs. They wanted to take this algorithm and make it an app for purchase. This is not a loan that any normal bank is going to do-SBA or otherwise-this is typically venture capital stuff. However, their existing business was super strong and cash flowed the loan even if the application failed. So with that business and the three (3) partners as guarantors, we were able to get it bought. Most banks can only do working capital or “airball” as some call it to about $500,000. Some to $1 Million. But we have NON-BANK lenders that can go to $5 Million unsecured-we can get it done!

Maybe you or a client have been denied by a bank and you are down because the bank told you SBA denied your loan. The chances are it was the bank, NOT the SBA that denied the loan. Most of the major SBA players are PLP which means they have delegated underwriting authority for SBA-they approve the loan, then just register it to get it an SBA loan number right before closing. It was likely the bank denied your loan and it never went to SBA. Why would the bank pass the buck and say that the SBA denied it? Because it easily shifts the blame and is easier for that sales rep in the bank to face the client with this “little white lie”-but it is rarely true. What is more likely is that your loan just does not fit the parameters of that bank. There is no way for you to know the parameters of the different banks, no bank advertises their credit committee tendencies, you can only know them if you send them lots of loans and see how they actually underwrite. Looking at almost 100 loans a month, sending them out constantly to be underwritten, and having done this for 14 years, I know which banks key on what. I can take the strengths of your file and put it with the lender that is MOST likely to do that loan. In so doing, I close over 80% of my pre-approvals. That is twice as high as the average bank.

IF you or someone you know is struggling to get approved SBA, don’t give up! Make one more call to me, at 512-358-1511 or click here to get started.

P.S. We just had our second-best month ever and are in the midst of possibly our best month ever this month! If you are in the market for a commercial or business loan, you risk NOTHING by giving me a call. See why we are so busy and what makes us different. From a live person answering the phone to quick 1-day approvals, you will see the difference-and often our rates are better than anyone else. You get the whole package with Commercial Capital. So give me a call today at 512-358-1511 or click here to get started.

https://flic.kr/p/D7zYy1