Let the Past Be the Past

One of the great things about the Christian Faith is ‘forgiveness’, if we repent of our sins, God will forgive us and even better, forget about the sin as far as the “east is from the west”.  In other words, we can repent and move on and KEEP THE PAST IN THE PAST. It no longer holds any power over your present if you repent, accept the forgiveness and move on. Unfortunately, consequences can linger. Some people still are struggling today over things from their past. Borrowers are still hindered by fallout from 2008 EVEN today. In today’s Deal of the Week, we see a person’s criminal record from 20 years ago still haunting him today. Well, at Commercial Capital, we are a second chance lender. We won’t hold your past against you and, we will search eagerly for a way to make it happen. We are the place to go when the banks say… no!

$2,000,000 Retail Center Purchase

Location: Englewood, CO

The borrower had been under contract for 30 days.  Despite the strong cash flow of both his business and property, and despite having good credit, every bank was denying him due to Felonies that were over 20 years old. It was a mistake, it was in the past, and he had moved on with his life, starting a successful business, rebuilding his credit, etc.  Multiple banks could not get the loan done. They all approved it initially, but the loan always got shot down in credit committee because of the felonies. Now, the borrower was desperate as his $20,000 earnest money had gone “hard” meaning if he did not close on the closing date, he would lose his $20,000 plus the property. And supposedly, they already had a back up offer and were refusing to budge at all. In desperation, they came to me.

After confirming that none of the felonies were for financial fraud, I jumped on it finding a lender with fixed rates and a 30 year amortization that was willing to do the deal. I got them approved and then we raced against time to close it in the 30 days we were given. We were still clearing conditions the night before the closing but the lender got the package out. We signed on the closing day, funding the following day. Now that borrower has a great property, a successful business and can continue building a future that is NOT tied to his past.

We have so many options for financing- we are correspondents for life companies, conduit lenders, banks, credit unions and all the stated and alternative lenders as well as private money bridge financing. We really are a one stop shop for all of your commercial and Business loans as we are one of the largest closers of SBA loans in the country. Most loans come to us after the banks have said no and yet we still get them done with bank rates-we just choose the right bank for the scenario from the 200 options we have nationwide. So when you need a commercial or business loan, think of Commercial Capital and Brian Peart. We are the place to go when the banks say ‘no’. It costs NOTHING to run your deal by me, just give me a call at 512-358-1511 or e-mail me at karenschimpf@gmail.com .   Have a blessed week!