Good morning, as we give Thanks to all, this week of Thanksgiving!
Commercial Lending
The Business and Investor Side of Our Business
Many of the on-going expectations we anticipated, have come to pass. Looking ahead here are a few dynamics that may prove helpful in our looking ahead:
1) Interest rates: A consistently stronger economy typically brings higher rates. Yet a friend we trust, offered an interesting viewpoint: We are in a ‘Plow Horse’ not a ‘Race Horse’ recovery. Why the hesitation? Struggles in the EU and the China growth story. Agree.
2) Another such factor is the Federal Reserve deciding it is time to take themselves out of our market. Agree.
3) Sales in our local real estate market reverting back to a historical pattern – up in the Spring, settle down in the Fall. Difficult not to agree.
This pattern should hold for now, as we await Spring. Good news: the challenge of limited inventory in the single-family market has eased. However, such is not true for commercial, even though commercial is far more diverse and client needs vary considerable.
Success Stories
Our commercial successes continue building steam, with exciting loan programs and awesome terms. One client closed an apartment purchase, with a 30 year amortization, due in 20, a fixed rate for 10 years – plus No personal guarantee – 1 point loan fee.
Another success: One of our defense contractors, trusting his bank, came back after being told No. Be careful of ‘bright shiny object’. Most are meant for very few and steal time.
Lastly, a long-time friend needed to extend a loan on another project. Sadly, he was caught by the market slow-up. After some great work with our client and title company, we were able to work out the wrinkles. It is working and done. Feels good to help a friend.
We love our lending partners. We share enough respect, they call us when something is not going well. They like our approach and loan packages and in response we are careful to help them maintain the quality of their depository relationships.
You have heard me say it before, it all starts with conversation. Give us a call, and if we are not the best fit, likely I can direct you to someone who will put you first. Let’s talk,
Give a call, and have a blessed Thanksgiving week.