Commercial Property Note Coming Due? What business owners should understand about the process of refinancing commercial real estate loans and the new Building-Refi program for commercial loans coming due.
Dallas,TX: The Sterling Fund announced a new program to refinance commercial buildings when the commercial property note is coming due. Called Building-Refi the program enables a business to refinance a commercial property mortgage due in the next 90 days.
The Sterling Fund(http://www.buildingrefinance.com) arranges loans for business owners who cannot obtain a new mortgage lender due to credit problems, vacancies, poor credit, bankruptcies or situations where the value of the property has fallen lower than the mortgage amount to be paid off. There is absolutely no cost or obligation to receive a loan proposal from The Sterling Fund for commercial properties with an impending balloon payments.
"The majority of applicants we work with are refinancing their commercial building for the first time. Many come to us with a basic level of knowledge of commercial real estate, which is often limited to residential only,” says John Nagle of The Sterling Fund. “These building owners learn their objectives are consistent with those of lenders. The applicant wants a loan to refinance a sound economic asset that has utility and tangible value, and the lender wants to have collateral for their commercial loan. It's the exact same thing that provides adequate security and is profitable for both parties."
Business owners who seek new financing for their commercial business building typically are refinancing commercial real estate. Most applicants are looking for new financing to pay off an existing mortgage that is coming due in a balloon payment. Some are seeking relief from an adjustable interest rate and most are concerned about their monthly payments. The majority are looking to boost cash flow to expand or remodel their commercial property.
Lenders work with all types of businesses, including manufacturers, service businesses, hotels, multi-family dwellings, mixed-use retailers, distributors, contractors and investors. These business owners have some commercial real estate objective in mind —refinancing a building, improvements or repairs, or buy out a partner in the building.
Even if your property has great cash flows and NOI -but your bank is in trouble and wants out- The Sterling Fund can still help with an inexpensive replacement mortgage.
As a national clearinghouse representing scores of public and private mortgage lenders who finance troubled situations (or in today’s environment profitable properties), The Sterling Fund represents lenders who provide financing either secured by a first or second mortgage.
Specialty issues in refinancing or acquisition financing of a commercial building that The Sterling Fund specializes in overcoming include:
Commercial and Business Losses
* Negative Net Worth
* Chapter 11 Filing
* Personal Real Estate Foreclosure
* Tax Liens
* Less than 1 year in business
* Vacant or under-performing properties
* Acquisitions of Multi-Family, retail, mixed use, warehouse or office building properties
We can typically provide you with a loan proposal within 24 hours of receiving our completed loan worksheet. An alternate loan quote is also available within 24 hours. To have a loan worksheet emailed call 1-800-578-4884.
About John Nagle At The Sterling Fund
John Nagle is the commercial real estate refinancing manager for The Sterling Fund. Reach him at (800) 578-4884 or firstname.lastname@example.org. Information and web videos at http://www.BuildingRefinance.com
For a loan quote and free advice call 1-800-578-4884.