On a side note, I saw the most recent bank approval ratings a couple of weeks ago-and it was SHOCKING! The large banks-you know the main ones-are denying 86% of the loans they see-which was up from 83% the prior reporting period. 86% DENIED!!!! Wow.
Below is a testimonial from one of our closed clients. In it she described just how hard it was to get a loan. It is an amazing read. If you or anyone you know is trying to get a commercial loan they are LIKELY struggling, let them know about us. We close more commercial loans than anyone in the country and, we make the process MUCH easier. Check out the real life story below.....
"Thank you for saving us from a nervous breakdown.
Two (2) and a half years ago we attempted our first refinance on our building in San Francisco.
It was a nightmare. I decided to save money and do it myself. After the 4th rejection I began to get nervous, hundreds of pages of paperwork later and after the 8th rejection I was really starting to panic. My time had run out, the second was 3 months past due and my limited options were running out.
We had purchased our building in 2008 before the market crashed and when real estate values were at their highest. The building was a perfect home for my personal studio and to house my new business. We started with 15 students, 3 instructors and have since grown to over 150 students and 12 instructors. It was essential to find a solution to finance our building.
After the 10th rejection I was ready to give up and rent (almost). Finally the 11th bank approved the loan but with so many conditions that I am still weaning myself from their tentacles. One of their requirements was to blood test my business partner and myself for drugs and HIV! Really! The good news was that both tests came back negative. So, when we were ready to refinance again, I knew that I did not want to put ourselves through another grueling process and a friend recommended you, Excel Commercial Capital.
To anyone who needs help: they have so many resources that they too went through many banks and financiers and we did receive rejections but the difference was that they never lost hope so we didn't either. They also took care of the mountains of paperwork for each bank. We gave him one set and maybe once in a while another piece of information but nothing like I went through on my own.
The fee we paid was worth every cent. In the end, they found us an excellent loan, 30 years fixed on a commercial building with great terms, better than we had ever expected. Excel Commercial Capital is a blessing to our prayers and now our business can continue to flourish without the headache and worry of refinancing. Hannah P."
Amazing isn't it. This is real life. Banks have money but are heavily regulated and scared to lend aggressively lest they have to set aside loss reserves. We fill the gap and know the few banks or lenders that are aggressive for each situation and match the borrower strength to the bank that most fits. In the end, it leads to almost an 80% APPROVAL rate.
A big cry from the big boy banks. If you are ready to get a business loan or a commercial property loan at the best terms and with the least hassles, fill out my quick online Commercial Loan Application.
Have a great day! Ed
P.S. There are many more stories and successful closings to share. If you know someone who needs financing, don't keep me a secret out there. We charge nothing to review the deal and see if it qualifies and will give you sound advice on what is available. Call me or email me today at 770-650-7870 Ed@excelccc.com!