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Get Qualified Commercial Loans from your CRE Bankers
There is an ample supply of qualified Borrowers ready for a loan Where your Commercial Bankers have just denied them. Start calling CRE bankers today. YES, Cold Call them.
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This discussion was modified 1 year, 4 months ago by
Sapna.
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This discussion was modified 1 year, 4 months ago by
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To get qualified commercial loans, especially if you have borrowers denied by traditional commercial bankers, it is essential to understand the landscape of alternative commercial financing options and how to reach out to potential lenders effectively. Here’s a comprehensive approach to help you get started:
Understanding Commercial Loans
Types of Commercial Loans:
SBA Loans: Backed by the Small Business Administration, these loans have favorable terms and lower down payment requirements.
Traditional Bank Loans: Standard commercial loans banks offer typically require strong credit and collateral.
Bridge Loans: Short-term loans bridge the gap between other financing until long-term financing is secured.
Hard Money Loans: Short-term loans are based on the value of the property rather than the borrower’s creditworthiness.
Commercial Real Estate Loans: Specific to purchasing or refinancing commercial property.
Qualifications:
Credit Score: Higher scores increase the likelihood of approval.
Down Payment: Typically required, ranging from 10% to 30%.
Collateral: Assets to secure the loan.
Debt-to-Income Ratio: Lenders assess the borrower’s ability to repay the loan.
Steps to Secure Commercial Loans
Prepare Borrower Profiles:
Financial Statements: Ensure the borrower’s financial statements are accurate and up-to-date.
Business Plan: A solid business plan that outlines the borrower’s business model, revenue projections, and how the loan will be used.
Identify Potential Lenders:
Alternative Lenders: Explore non-traditional lenders such as credit unions, community banks, and online lenders.
Private Lenders: Look for private investment groups or individuals specializing in commercial loans.
Commercial Mortgage Brokers: These brokers can connect you with various lenders.
Cold Calling Strategy:
Identify Contacts: Compile a list of commercial real estate (CRE) bankers and lenders.
Script Development: Develop a compelling cold-calling script that outlines the value proposition and borrower qualifications.
Persistence: Follow up regularly and build relationships with lenders.
Example Cold-Calling Script
Introduction: “Hello, my name is [Your Name], and I’m a commercial loan broker with [Your Company]. I’m reaching out because we have a number of qualified borrowers who have been denied loans from traditional banks, but I believe they would be a great fit for your lending programs.”
Value Proposition: “Our borrowers have solid financials and well-documented business plans. They are looking for loans ranging from [Loan Amount Range] and are ready to move forward immediately.”
Call to Action: “I’d love to discuss how we can work together to secure financing for these clients. When would be a good time to talk further?”
Resources for Finding Lenders
Online Lending Platforms:
GCA FORUMS https://www.gcaforums.com/
Securing commercial loans for qualified borrowers involves preparation, strategic outreach, and persistence. Understanding the types of loans available, preparing thorough borrower profiles, identifying alternative lenders, and effectively cold-calling potential lenders can increase the chances of securing the necessary financing.
For more detailed guidance, you might consider resources like Lending Network https://www.lendingnetwork.org/ and Non-QM Mortgage Brokers https://www.non-qmmortgagebrokers.com/
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