Beyond the Basics of Small Commercial Lending · APEX Mortgage Corp. presents . Beyond the Basics...
Transcript of Beyond the Basics of Small Commercial Lending · APEX Mortgage Corp. presents . Beyond the Basics...
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APEX Mortgage Corp. presents
Beyond the Basics of Small Commercial Lending
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APEX covered basic commercial mortgage guidelines in its webinar, Commercial Loans 101.
Commercial Loans 201 will cover specific details on how and why APEX approves their loan submissions, plus:
• 5 essential pieces of information that every lender needs to know
• Essential questions you must ask your borrower before a lender will approve their loan request
• The top 5 avenues for finding commercial business • Recent closings
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Purpose of the loan request
Debt Consolidation
Purchase a Building
Property Improvements
Refinance
Working Capital
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Cash flow • P&L • Tax returns • Bank statements
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Description of the business
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Credit history
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Value of collateral
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• 2 years financial statements or 2 years tax returns for business and personal
• Personal Tri-Merge Credit report
• Personal Financial Statement
• Balance sheet for business
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How will this loan benefit you?
I need money for taxes!
I need to replace the roof on my store!
I need cash for inventory!
I need to pay off my balloon!
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How will this loan impact your cash flow? How can we demonstrate to the lender that you can pay it back?
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Can you describe your business?
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How is your credit – personal & business? Can you thoroughly explain any problems you may have had in the past?
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What is the collateral worth? Do you have any evidence to support your stated value of the collateral?
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• The best commercial
brokers have developed relationships at banks and get their turndowns and their work-outs.
Banks
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• The accountants are working on your borrowers’ tax returns right now! They know who could use financing.
Accountants
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• Many of your clients today own their own business. Let them know that you can fund commercial deals.
Your current book of business
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• Let the people you network with know that you are an expert in commercial financing.
Your current network
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• Commercial money is hard to find. Every Realtor can tell you a story about their commercial buyer that couldn’t get financed.
Realtors
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Loan Amount: $500,000 Property: Motel LTV: 50% Loan Purpose: Refi Credit Score: 673 Broker Made: 2 Points
Haines City, FL
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Loan Amount: $417,000 Property: 10-Unit Apartment Building LTV: 60% Loan Purpose: Property improvements Credit Score: 578 Broker Made: 4 Points
Bronx, NY
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Loan Amount: $150,000 Property: Mixed-Use LTV: 65% Loan Purpose: Pay off hard money loan Credit Score: 611 Broker Made: 3 Points
Chicago, IL
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For more information, please call us at