It is a well know fact that the commercial markets have stalled and have remained stagnant. In response to market conditions most commercial lenders have pulled back from commercial lending and have severally cut their operations or completely closed their doors. This has left a gaping hole in the market and businesses are finding it almost impossible to get the money they need to build their businesses. Oftentimes the outlook is even more frightening for existing businesses that have commercial loans in place and their lenders are deciding how to handle their portfolio of loans. The majority of commercial loans are callable; meaning that the bank can call the loan due if the outlook for the business changes. I have seen multiple businesses forced into bankruptcy because the lender called the loan due, a even though the business was struggling they were current on the payments and close to turning the corner. I have seen several businesses go under because the bank called the loan due because the bank’s decided to exit a particular industry or area.
The Federal government has recently infused the Small Business Administration (SBA) with over 80 billion dollars over the last 18 months. The SBA loan is insured by the government and is safe and secure for the business owner and the lender. The SBA has begun insuring 90% of the loan amount (compared to the 75% that it used to be) and the funding fees have been waved. The business owner also gets increased security because SBA loans are NOT “callable” and the lender cannot demand that they be paid, even if the business is struggling. The terms for SBA loans are extremely favorable with 7-25 year terms, loan amounts between 10 thousand and 10 million and interest rates around 6-7%.
TrueCompass Lending Corporation is able to provide our clients access to SBA loans. Our teams of SBA experts are former SBA administrators and underwriters. We have a successful closing ratio that is 4-6 times better than most banks. We get SBA loans closed and funded in half the time most lenders take.
As our client, you will have your own SBA Loan specialist that structures your financials and business plan to SBA’s very specific requirements and criteria. We have developed a quick screening program to assure that time and money is not wasted on everyone‘s part.
We also have numerous programs that do not fall inside the SBA programs guidelines. We can help with all your commercial lending needs.
Today’s lending environment is more complex than ever and TrueCompass Lending can help navigate the troubled waters.
Contact Brian Pierce at (800) 709-4168
Commercial Branch, Reverse Mortgage Branch, Commercial Loans, Bridge Loans, SBA Loans, Franchise Loans, Reverse Mortgages, Hard Money Loans, Hard Money Commercial Bridge Loans, and Mortgages.
TrueCompass Lending Corporation™. Trade/service marks are the property of TrueCompass Lending Corporation, Inc. and/or its subsidiaries. Corporate Offices located at: 8215 SW Tualatin-Sherwood Road , Tualatin, OR 97062. The information contained herein is intended as informational material for the sole and exclusive use of the business entities and consumers to which it was distributed and is subject to change without written notice. This is not a commitment to lend. Restrictions apply. Some products may not be available in all states, not all borrowers may qualify. All rights reserved.
