Opinion

COVID Commercial Loan Closings

A professional asked last week if any commercial loans are being closed during COVID. We've never been so busy - check these awesome closings out. Cleaning Company: Reduced their interest rate from 75% on an MCA to 6% SBA loan for working capital and equipment. Existing debt payments were reduced by 67.2%. Significant cashflow boost. Product Retailer: $150k over 10 years for working capital to buy...

Must do contingency when you buy gas station

When buying a gas station in Washington State, don't forget to put the contingency into your purchase & sale contract is the phase I, phase II ground contamination test.Of course, the Loan lender demands it and otherwise you will not able to get the loan, but it is this phase I, phase II study that will keep buyers from future threats.Phase I, Phase II study & test is very expensive, but buyers...

Shopping for mortgage rate is so important when you buying a property

When buying a building or house, one must do is shopping for a mortgage company (lender). The reason that many buyers make mistakes is that someone I know is a lender, or they just believe with the agent that they did last time, but in many cases it can be okay, but even if the loan rate is slightly different, it is calculated as a monthly payment for 20 years and 30 years. This is a big money, so buyers...

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