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11
Mar

Focus On: State of SBA Lending

Posted by in Brian's Blog, Commercial Real Estate, Site News, Tip Of The Week

This week I would like to update you on the state of SBA lending from the front lines of the marketplace.  I have closed 5 SBA loans in the last 5 weeks, pretty much one a week and they make up about 1/3rd of my pipeline. So I am closing […]

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20
Jun

$150,000 Debt consolidation refinance BLANKET LOAN.

Posted by in Brian's Blog, Recent Closings, Tip Of The Week

This borrower had 11 condos in a condo community, what is called a fractured condo. In other words, he did not own all the condo’s in the complex-just a hodgepodge of them.  We did a blanket loan on the 11 condo’s and got a huge assortment of debts refinanced freeing […]

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19
Jun

$150,000 Cash out refinance for foreign nationals.

Posted by in Brian's Blog, Recent Closings, Tip Of The Week

YES WE DO FOREIGN NATIONALS.  This is a Canadian borrower who bought a property on the cheap, renovated it and now wants to pull his cash out.  Because he is just starting to rent it up, he can not go conventionally and wants to tap the cash to buy other […]

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19
Jun

$300,000 Business only loan for a School.

Posted by in Brian's Blog, Recent Closings, Tip Of The Week

 This was a repeat borrower who borrowed $200,000 from us a year ago and paid it off, now he is back for a $300,000 pop.  We love repeat clients if they have proven their ability to repay.  Get in on our good side, and you have the equivalent of an […]

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18
Jun

$230,000 Cash out loan on RAW LAND!

Posted by in Brian's Blog, Recent Closings, Tip Of The Week

Yes we do land loans at 30% LTV (normal properties are 60-65%).  This was a developer with free and clear property who needed some money for downpayment on another project and we got him some quick cash out against the unencumbered raw land he had in Texas.  We are fast […]

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18
Jun

$220,000 Foreign National purchase of a vacant apartment building.

Posted by in Brian's Blog, Recent Closings, Tip Of The Week

Again, another group of Canadians are buying a small vacant apartment building.  Although this one has no rehab money in it, we often can get the rehab money as well.  We can take the purchase price, plus the rehab and costs and loan 60% of the entire deal. People are […]

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