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Simply the other day, I heard a reasonably prominent business real estate mortgage industry insider (who needs to stay anonymous) utter one thing like: "Sorry guys, no commercial lenders are making loans for industrial construction financing nowadays in this dismal financial downturn." No wonder that business insider desires to stay nameless! He should as a result of it seems to me that when executives start to parrot what they hear within the information media, they actually cause the doom and gloom that doesn't really exist at all earlier than they proclaim it. Anyway, rest assured you can get business building loan financing - if you already know the place to look...
Perhaps the place he comes from, commercial construction financing is hard to come back by, however he was undoubtedly referring to traditional commercial real property lenders. Now do not get me improper, standard business lenders do have a strong rationale for being reluctant to offer development mortgage financing: ...
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Perhaps the place he comes from, commercial construction financing is hard to come back by, however he was undoubtedly referring to traditional commercial real property lenders. Now do not get me improper, standard business lenders do have a strong rationale for being reluctant to offer development mortgage financing: ...
View More
Simply the other day, I heard a reasonably prominent business real estate mortgage industry insider (who needs to stay anonymous) utter one thing like: "Sorry guys, no commercial lenders are making loans for industrial construction financing nowadays in this dismal financial downturn." No wonder that business insider desires to stay nameless! He should as a result of it seems to me that when executives start to parrot what they hear within the information media, they actually cause the doom and gloom that doesn't really exist at all earlier than they proclaim it. Anyway, rest assured you can get business building loan financing - if you already know the place to look...
Perhaps the place he comes from, commercial construction financing is hard to come back by, however he was undoubtedly referring to traditional commercial real property lenders. Now do not get me improper, standard business lenders do have a strong rationale for being reluctant to offer development mortgage financing: "In a down economic system, plenty of standing (existing) actual estate sits vacant or unsold on the market. So, why the heck ought to we finance new development?"
OK, we get their point, however there are nonetheless a variety of good solid new construction projects on the market that must be funded, and yours may be one in all them. If so, personal commercial building loan financing is the place it is at.
View Less
Perhaps the place he comes from, commercial construction financing is hard to come back by, however he was undoubtedly referring to traditional commercial real property lenders. Now do not get me improper, standard business lenders do have a strong rationale for being reluctant to offer development mortgage financing: "In a down economic system, plenty of standing (existing) actual estate sits vacant or unsold on the market. So, why the heck ought to we finance new development?"
OK, we get their point, however there are nonetheless a variety of good solid new construction projects on the market that must be funded, and yours may be one in all them. If so, personal commercial building loan financing is the place it is at.
View Less