{"id":1004323571,"date":"2019-05-15T09:55:21","date_gmt":"2019-05-15T17:55:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004323571"},"modified":"2019-05-15T13:51:59","modified_gmt":"2019-05-15T21:51:59","slug":"why-brokers-need-3-options-for-cre-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/why-brokers-need-3-options-for-cre-financing\/","title":{"rendered":"Why Brokers Need 3 Options for CRE Financing"},"content":{"rendered":"
\"\"

Adam Seery  Image courtesy of Harvest Small Business Finance<\/em><\/p><\/div>\n

We\u2019ve all heard the phrase \u201cI\u2019ve got an Ace up my sleeve.\u201d Usually, it indicates a last-ditch effort to get something done. Experienced brokers usually have a lot of aces up their sleeves, and one of those aces should be a diverse list of lenders.<\/p>\n

The more options you have in your back pocket for financing, the better chance your deal gets done. A savvy broker has a mix of banks and finance companies on speed dial. Below, I\u2019ve identified three funding sources every broker needs to effectively serve clients:<\/p>\n

National Banks<\/h2>\n

Let\u2019s call these the \u201cbig banks\u201d ($100 billion to $2.6 trillion in assets). As the regulatory environment continues to tighten for banks, it\u2019s harder to secure good deals financed by the \u201cbig banks.\u201d They use a one-size-fits-all approach to lending. They don\u2019t rush to underwrite, fund and service a loan. The value they provide to borrowers is low rates, period.<\/p>\n

If your client can tolerate an escrow longer than 60 days, and you\u2019re dealing with top tier client, this is the route to take.<\/p>\n

One tip, though: When looking for the right bank sales representative for your client, make sure he or she has been with the bank for an extended period of time. Those individuals know how to work deals through the system. National banks tend to experience high turnover, and the last thing you want is a new sales rep adding additional time and energy to an already slow process.<\/p>\n

Regional & Community Banks<\/span><\/h2>\n

Let\u2019s call these the \u201crelationship players\u201d ($1 billion-$99 billion in assets). These small to mid-size banks are nimbler than the \u201cbig boys\u201d but typically offer higher interest rates and have limited capacity when it comes to loan size. For the most part, these banks market themselves as \u201crelationship\u201d driven. This means they are looking to lend you money but want you to bring over deposits, lines of credit and any future business.<\/p>\n

Be aware that the smaller the bank, the more likely it is to be acquired by a regional (up to $20 billion) or super-regional ($100 billion) bank. Once that happens, all bets are off in terms of the bank\u2019s historical credit culture or pricing. Again, call these banks to identify a top producer. You will want to work with that individual.<\/p>\n

Finance Companies<\/h2>\n

Let\u2019s call these the \u201cget it done folks.\u201d Lastly, the finance lending space is comprised of non-bank lenders backed by private equity funds. The advantage of these lenders is speed and credit flexibility. Since these firms are not classified as an FDIC deposit institution (bank), they are strictly transaction driven and focus just on funding the commercial real estate loan request.<\/p>\n

These lenders can save the day, along with your commission, if your client is turned down by the \u201cbig banks\u201d or \u201crelationship players.\u201d A majority of these sales professionals are former commercial real estate bankers who wanted to work under less-restrictive terms and be able to say yes more often.<\/p>\n

The downside to finance lenders is they typically have higher costs of funds, which in turn flows to higher interest rates. Again, once you identify a reputable company, find that individual who knows your market well and has a workhorse reputation.<\/p>\n

Nearly all of a broker\u2019s clients will be able to find a financing option for a solid investment. The key to success is cultivating relationships with those three diverse funding sources to ensure your transaction gets to the finish line.<\/p>\n

Adam Seery is the COO of Harvest Small Business Finance and Harvest Commercial Capital. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Savvy intermediaries are able to offer clients relationships and quotes from these critical funding sources, according to the COO of Harvest Business Finance and Harvest Commercial Capital. <\/p>\n","protected":false},"author":923,"featured_media":1004323586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21684],"tags":[45593],"class_list":["post-1004323571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-viewpoint","tag-harvest-small-business-finance"],"acf":[],"yoast_head":"\nWhy Brokers Need 3 Options for CRE Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/why-brokers-need-3-options-for-cre-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Brokers Need 3 Options for CRE Financing\" \/>\n<meta property=\"og:description\" content=\"Savvy intermediaries are able to offer clients relationships and quotes from these critical funding sources, according to the COO of Harvest Business Finance and Harvest Commercial Capital.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/why-brokers-need-3-options-for-cre-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-15T17:55:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-15T21:51:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Adam-Seery-12-18.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"618\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adam Seery\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/\"},\"author\":{\"name\":\"Adam Seery\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/5ae9578ebd25fdbb96fd3656457060bd\"},\"headline\":\"Why Brokers Need 3 Options for CRE Financing\",\"datePublished\":\"2019-05-15T17:55:21+00:00\",\"dateModified\":\"2019-05-15T21:51:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/\"},\"wordCount\":618,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/05\\\/Adam-Seery-12-18.jpg\",\"keywords\":[\"Harvest Small Business Finance\"],\"articleSection\":[\"Viewpoint\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/why-brokers-need-3-options-for-cre-financing\\\/\",\"name\":\"Why Brokers Need 3 Options for CRE Financing - 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