Critical Path to Success
E-comm’loan: E (online) comm (commercial) loan (lending)
There are many sites for online commercial lending but navigating through them can take months. More importantly the often times difficult, hectic and pressure sensitive world of commercial lending should not be explored alone. The commercial finance industry is much less regulated and much more complex than that of the residential marketplace. We consider them two entirely different animals, one being tame and the other wild (although that may have switched roles slightly with the recent residential subprime mess). Either way commercial lending is subject to noticeable differences included in our top 5:
- Non-refundable or “hard-to-refund” commitment fees
- Business tax returns and financials with little room for error
- Much larger exposure for any given loan which can place liabilities and collateral in the millions
- Larger than normal experience curve for getting loans closed
- Extremely close and meaningful business relationships that require critical path partners in various loan stages
In building the concept of Ecommloan it was pivotal to address these differences and areas of most common resistance. This initial article will be the cornerstone for our continuous effort to educate, inform and assist in closing commercial loans for investors, developers, brokers and more. So with that said here is our first attempt at giving borrowers the protection and guidance they deserve. 5 factors of our site that help achieve this are:
- Multiple lender contacts so you may compare apples to apples when paying for appraisals, retainers or hard-to-refund commitments
- Detailed initial underwriting can asses your loan package and make sure your credit history is strong enough to move forward. In addition, business plan writers can help you realistically estimate your future earnings and pro forma statements
- Without risk and often times exposure there is no financial gain, our experts help you analyze both
- We have not eliminated the experience curve. We want our clients to utilize our training, coaching, and networking whether this is your first transaction or your largest transaction to this date
- Critical path partners are those professionals that you respect and often utilize in your ongoing investments. We offer our services so that more and more professionals can join our network and connect for their own advancement and business success. This includes accountants, financial planners, consultants, marketers, industry executives, lawyers, Realtors, brokers and of course lenders.
“Do what you can, with what you have, where you are.” - Theodore Roosevelt
Filed under: Uncategorized | No Comments »