Commercial Lending X
December 2018 Update
Time To Reinvent Commercial Lending
Commercial Lending X is your one stop source for all of your commercial financing needs. Combined we have over 50 years of commercial lending, credit management, and underwriting experience. Our team has gotten approvals for over $400 million in commercial loans over the past nine years. Let us see what we can do for you.
Happy Holidays & Thank You!
Happy Holidays from all of us here at Commercial Lending X. As we wrap up the year, we wanted to thank all of our customers, lenders, referral partners, friends and family for a great 2018. We also wanted to wish everyone a happy, blissful and fun holiday season, and we hope that 2018 was a great year for you.
As we reflect on 2018, we have much to be grateful for as it was a growth year for Commercial Lending X. Kim Krohn joined us in May as a Relationship Manager to support communication between our lenders, clients, and referral partners. We also added almost two dozen new lending programs, helping us expand our offerings in 2018 leading to a record number of closings. Lastly, we closed transactions in Georgia, California, Texas, and Florida, bringing the total number of States we have approved loans in up to twenty. We could not be happier about the impact we created for our clients in 2018, and we would like to thank everyone who contributed!
As 2018 rounds out, we are starting to plan ahead. Our goal is to create even more impact in 2019 for our customers, lenders, and referral partners. With that in mind we want to highlight a few strategic initiatives:
Introducing our “Loan Policy” highlighting a majority of our available lending programs. This policy will provide a frame of reference for all referral partners and lenders, helping them to better understand various lending options available in the market. We hope this will help to better set expectations as well as open the doors to more customers to find the financing that they need. Although not all inclusive, this policy covers over 90% of what we do day in and day out.
Streamlining internal processes to provide 50% faster turnaround times and more robust communication to our customers and referral partners. As we have been growing we have not always been able to maintain the level of customer service we expect. We have reorganized and innovated our operations to deliver communication and turn-around times that will exceed industry standards.
Offer more educational and training opportunities in 2019 to help our referral partners and lending partners understand what is happening in the market and the various lending programs that exist, so that they can better serve their customers.
Here is to making 2019 the best year yet. Happy Holidays and a Happy New Year!!!
Recent Success Stories
Below are a few recent success stories to help provide more detail on the type of transactions we can get financed at Commercial Lending X.
Business Acquisition & Refinance of Existing Business Debt – We were able to help a customer acquire a competing company, refinance all of their existing real estate and business debt, setup a new working capital line of credit, and close on the transaction, including properties in three states, for about $11 million within about 30 days-time (from approval to close in 30 days). The client needed to close quickly or risk losing the business purchase, and their existing lender could not get to the table in time. We were able to secure them a solid bank relationship with more aggressive pricing and terms then they had before and meet their deadline to close.
Commercial Mixed-Use Property Refinance – Our customer had previously had a bankruptcy following the great recession and needed to refinance their existing mixed-use commercial building to complete a new tenant build-out. We were able to secure a commercial mortgage for roughly $2.4 million with a traditional bank at a competitive rate to provide them the cash they needed to complete the required build-out and close, covering 100% of costs via the equity they had in the property.
Owner Occupied Retail Property Acquisition – Our client was looking to acquire the retail location he had been operating from for a number of years. Due to the fact he had been paying rent there for many years and had self-funded the build-out of the space when he originally moved in, we were able to get him 100% financing for the acquisition of the property and even roll into the loan of $870,000 the refinance of other business debt, utilizing the SBA 7A loan program.
NEW “LOAN POLICY” – COMMERCIAL LENDING X LENDING PARAMETERS
Rather than highlight various new lending programs we have available, we have decided to take this opportunity to introduce you to our newly released “Loan Policy”, which highlights all of the various lending programs we have available to us at Commercial Lending X. You can download a copy of this “Loan Policy” Here.
Although not all inclusive of everything we can do, this policy should serve as a general guide for the type of lending programs available, and we are hopeful it will help educate our customers, lenders, and referral partners on the financing options available for their clients. We plan to update this policy regularly. If you are curious about a financing option not contained in this policy, please do not hesitate to reach out to us. With over 200 funding partners, we have many options available or may be able to cater an option to fit your specific client’s need, even if not in the policy itself.
Thank You, Happy Holidays, and Here is to a Great 2019!!!
