Just when you thought things can’t get any worse in the Commercial Real Estate Financing market, news that the largest Wholesale Lender has decided to stop lending in 13 States should get your attention.
But the news is not all bad. I’ll explain why in a minute.
First, it’s important to understand what this news really means to you if you’re a Business Owner, Investor or Commercial Real Estate Professional.
We’re talking about the ONLY Wholesale Lender to survive the Lehman crash, and now they’re pulling out of 13 States because these are apparently the highest foreclosure and delinquency states in their portfolio.
Not only do we use this Lender, but so do about 6,000 Banks. Think about that. There are approximately 6,000 Banks that have just lost their biggest wholesale lending source. They simply do not have an alternative lending source.
Do you see why that might be a problem? If you think the market was constricted before, things just got a whole lot tighter. At least in these 13 states, and with at least 6,000 Banks.
And it wouldn’t surprise me at all if this news had a ripple affect with other Banks. Remember what I reported recently about how few Banks are really lending? There will be even fewer now. In my opinion, this will have a potentially crippling impact on commercial lending.
But I said the news was not all bad. And it’s not. That’s because while those 6,000 Banks lack an alternative lending source, we don’t!
You see, that’s the advantage we have in this market. And that advantage is passed on to YOU, if you can see through the banking mess to find us.
This news puts 6,000 Banks out of business in these 13 states, but we keep on rolling. Now I’m guessing you’d like to know what those 13 states are, right? Well here they are:
Al, OK, IN, MI, FL, MS, LA, MA, NJ, northern OH and ME
If you are in any one of these 13 states, and you’re reading this, I want to advise you to NOT waste your time trying to get blood from a stone. Yes, that’s being blunt. But if you are serious about obtaining Commercial Real Estate financing, you’d be better served by starting right here.
And if you’ve already been turned down by a Bank, whether in any of these 13 states or elsewhere, don’t give up! I’m telling you this because in a recent telephone call with our CEO, he mentioned to me that he cannot recall the last person we helped that wasn’t first turned down by a Bank first.
Some of these Business Owners and Investors that were turned down wasted valuable time and resources by trying to do things the old fashioned way. Keep in mind the current market is unlike any other we’ve seen. The rules are changing, as are some of the players. So keep an open mind.
And if you want to know more about financing for your situation, I want to urge you to use this Form which will only take about 4 minutes to complete, but will allow us to get back to you quickly with real information and answers.
It’s not that we don’t want to talk to you. We do, and we will more quickly if you will complete the easy Form first. Otherwise we end up spending twice as long (or longer) asking you the same questions, and then we will still have to call you back anyway.
The reason we do things this way is because there is no one size fits all in Commercial Real Estate financing, especially in this crazy market. We can speak to two borrowers who are trying to financing the purchase of a shopping center, for example. And even if it is the same shopping center, they’re different borrowers. So the situations are completely different, therefore the answers we provide will also be completely different.
So help us help you, and please take a few minutes to complete the Form, and we will get back to you more quickly. If you do call, I am going to apologize now for the delay.
