Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    How to Get a Business Loan for Commercial Real Estate: 2012 Edition
    How to Get a Business Loan for Commercial Real Estate: 2012 Edition
    How to Get a Business Loan for Commercial Real Estate: 2012 Edition
    Ebook134 pages1 hour

    How to Get a Business Loan for Commercial Real Estate: 2012 Edition

    By Charles Barthelemy

    ()

    Read preview

    About this ebook

    Having a HARD TIME Getting Your Business or Commercial Loan Funded?

    OR is it nearly IMPOSSIBLE to FIND a funding source for your LOW CREDIT SCORES or HIGH RISK project? You have the problem, we have the solution.

    Learn how to secure a Business Loan for Commercial Real Estate. In today's credit market conventional banks RARELY lend business loans for non-traditional/high risk projects such as hotels, car washes, gas stations, night clubs, churches/nonprofit or low credit scores, just to name a few!

    Moreover, banks only approve 50% of projects that "qualify" or "fit" their criteria.

    Why? JUST BECAUSE THEY CAN!

    Written by lending expert and commercial banker Charles Barthelemy with over 16 years lending experience plus over 30 years combined in his business Barthelemy Commercial Capital, this E-COURSE gives you the CURRENT INSIDER SECRETS on how to get a Business Loan for Commercial Real Estate.

    This E-course is complete with all the necessary forms, letters and instructions on how to position your credit, financials and your business to ACTUALLY AND REALISTICALLY receive Hard-To-Get funding in today's difficult credit market like a PRO!

    After using the info in this COMPREHENSIVE user-friendly E-course, you can turn your NO'S into "YES'S" when applying for funding ALMOST OVERNIGHT!
    LanguageEnglish
    PublishereBookIt.com
    Release dateApr 26, 2016
    ISBN9781456606671
    How to Get a Business Loan for Commercial Real Estate: 2012 Edition

    Related to How to Get a Business Loan for Commercial Real Estate

    Related ebooks

    Business For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Fund a Home Business!

      Oct 18, 2019

      Fund a Home Business!
      9 min read

    • Article

      Equifax Data Breach Settlement: What You Need to Know

      Jul 24, 2019

      If you're one of the roughly 147 million people whose sensitive personal information was exposed in the 2017 Equifax data breach, get ready to claim your share of the relief. The credit bureau has agreed to a settlement of up to $700 million with the

      4 min read

    • Article

      HOW TO... Get Off A Blacklist

      Sep 23, 2019

      HOW TO... Get Off A Blacklist
      2 min read

    • Article

      When Zombie Debt Collectors Chase Written-Off Debts

      Jan 4, 2019

      Chances are that you have never heard the terms Zombie Debt or Zombie Debt Collectors. Neither had former United States Marine Lt. Charles Lay until the first week of October 2018, when he received this phone call: "Superior Court calling, and we w

      5 min read

    • Article

      15 Best Foreclosure Sites for Finding Properties

      Jan 6, 2021

      You may remember that foreclosures were a big part of the Great Recession. As the economy cratered, foreclosure filings soared. In the first half of 2010 alone, 1.65 million U.S. homes spun into foreclosure, according to data from ATTOM Data Solution

      3 min read

    • Article

      Owner Occupied Commercial

      Nov 28, 2019

      Commercial property is a great investment vehicle; however, it can be a hard market to access with shorter repayment terms, higher interest rates and a greater deposit required for lending. Business owners, however, have a unique opportunity in this

      2 min read

    • Article

      Repo Risk: Beware Illegal Car Repossessions

      Jun 13, 2022

      Used cars are suddenly so much more appealing than they used to be. With prices near historic highs and inventory near record lows, some officials are warning people with car loans that unscrupulous lenders may use more aggressive - and possibly ille

      4 min read

    • Article

      Equifax To Pay Up To $700 Million In Data Breach Settlement

      Jul 22, 2019

      The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.

      2 min read

    • Article

      Creating Extra Value

      Jun 4, 2020

      Creating Extra Value
      5 min read

    • Article

      How to Build a Credit History

      Oct 3, 2019

      Most lenders expect you to have a decent credit record to qualify for a loan or credit card. But if you've never had a credit card or taken out a loan, you don't have much of a credit history. It's a conundrum that young people face as they begin the

      4 min read

    • Article

      Get Smart About Social Security

      Nov 1, 2017

      GETTING THE MOST out of Social Security is all about waiting as long as possible to start filing for benefits, right? Not quite—especially if, as a business owner, you get to decide how you are paid. You can actually live on a lot more money in ret

      4 min read

    • Article

      Should You Do Your Own Taxes or Hire a Professional?

      Jan 30, 2020

      For some people, tax season poses little worry, and the process occurs painlessly. Simply populate the requisite fields on your 1040 with info from your W-2, claim the standard deduction, sign on the dotted line and e-file. After that, the check is

      4 min read

    • Article

      All About Wealth

      Sep 3, 2020

      All About Wealth
      1 min read

    • Article

      Investor Myths Busted

      May 2, 2019

      Investor Myths Busted
      6 min read

    • Article

      SEC Investigates Cryptocurrency Offerings

      Mar 1, 2018

      The Securities and Exchange Commission has sent dozens of subpoenas in recent months to cryptocurrency companies that promote "initial coin offerings."

      1 min read

    • Article

      Equifax Messed Up. We Have to Clean Up

      Sep 18, 2017

      After Equifax revealed earlier this month that hackers accessed the Social Security numbers, birth dates and other intimate information of 143 million people, leaving them at a serious lifelong risk of identity theft, both the company and consumer ri

      3 min read

    • Article

      Entrepreneurs Pay Too Much in Taxes Because They Don't Do This

      Mar 29, 2019

      As we head deeper into tax season, we're starting to hear from more and more Americans experiencing sticker shock as they file their returns. Gone is the comforting and often sizable refund check they've come to expect every year. Instead, they're fi

      2 min read

    • Article

      How to Search for Old Savings Bonds

      May 1, 2018

      [Question]My grandfather and father passed away when I was 8 years old. I heard they had savings bonds for me. I'm 37 now and have no one left to ask about it. How do I find out if there really are any savings bonds for me, and how do I go about find

      2 min read

    Related categories

    Reviews for How to Get a Business Loan for Commercial Real Estate

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How to Get a Business Loan for Commercial Real Estate - Charles Barthelemy

      review.

      INTRODUCTION

      My name is Charles Barthelemy, founder of Barthelemy Commercial Capital. As a notable and respected mortgage banker in the Atlanta, GA community, I founded Barthelemy Enterprises in 2001 while being employed with Wachovia Bank now known as Wells Fargo Bank. During my ten year tenure that resulted in me overseeing 8 bank branches, I found myself having to tell more customers that their loan request was declined rather than approved. Seeing that the bank has set guidelines, any projects outside their box were declined. For example, a customer may have one derogatory item on their credit or don’t have a relationship with the bank (No accounts with the bank) or the project that they are seeking funding for did not fit the bank’s strict parameters and blueprint, such as hotels, night clubs, multi units etc. and their loans would get declined.

      Along with the strict guidelines, as a Wachovia employee, I was restricted in what I could and could not tell the customer, which I will go into more detail in Chapter 5. I found that 60% - 70% of my customers were strong in some areas and weak in others (Credit, Personal Financial Statement, Liquidity, accounts with the bank etc.). Over the years at Wachovia Bank, I found myself declining 7 out of 10 prospects that applied for some type of business funding because of hard bank criteria. As bankers, we have a tendency of thinking that the guidelines that the financial institution that we are working for is the law, written in stone. Now when I say the law, I am referring to the programs that the particular bank offers. Working for one of the top 10 banks in the nation, I figured if they cannot approve my clients then no one can. Boy was I wrong! Sending out Declined letters became a daily routine for my staff and I. As a SOLUTIONS oriented person, I realized that there had to be other sources that would give my clients a chance. As the old saying goes If there’s a will there’s is a way. In 2002 I made the decision to resign from Wachovia Bank so that I could seek other funding solutions for my clients. I sought them and I found them.

      One of the country’s most trusted and respected real estate financial providers, Barthelemy Commercial Capital and its officers has over twenty-five years of combined experience, dealing in the commercial and residential funding market. We pride ourselves on being fast, flexible and creative. We often see solutions that other companies can’t.

      When structuring a loan for our clients, communication is 95% of it. We make sure we keep our clients posted on a daily basis on what is taking place in the loan process. One thing B.E. will not do is waste your time. We believe your time is extremely valuable, and so is ours. To sum it up, if we can help you we will tell you, and if we can’t we will tell you that as well.

      In my many years of experience in the lending industry, I have discovered that there are 3 types of customers:

      1) Those that have no clue and want to hire an expert to assist in their lending solutions.

      2) Those that have educated themselves on some aspects of the lending world, and are seeking more information to obtain a business loan.

      3) Those that will never be interested in hiring an expert, and do not have a clue, and want to do all the work themselves no matter what no one tells them.

      In this DO IT YOURSELF manual I will attempt to satisfy all three customers. If you follow this manual step by step, I guarantee, you will be more prepared than you ever have to receive a business loan for your existing business or start up business. NOW LETS BEGIN!

      CHAPTER 1

      LET’S CRAWL!

      Qualifications and Requirements

      FAILING TO PREPARE IS PREPARING TO FAIL This quote applies to everything that you may do in life along with obtaining a business loan for your existing or start up business. There is an old saying, You must learn how to crawl before you learn to walk. LET’S CRAWL!

      Knowledge and Experience

      Just like any job that you would apply for, you need to create combined personal and business resume for the business you are seeking funding for.

      These are some of the key points you should focus on:

      A) How many years do I have in this industry?

      B) What is my management experience? How many years?

      C) Have I owned or co-owned a business of this caliber before, and if so how long?

      D) Show numbers. Did I increase the profits of the company? Did I save the company money etc.

      E) Make sure you know the depths of the business that you are seeking money for.

      F) Know the history of that industry. You can GOOGLE for a more in-depth knowledge that will wow the funding source you are seeking money from.

      Note: It is difficult to state you need money for a Daycare center and your experience is in repairing cars.

      CASH INJECTION

      You must show that you have some skin in the game. What I mean by this is how much money you have to put toward your project.

      A) Your lending sources will generally want to see at least a 10 to 15 percent cash injection/ down payment. This percentage is based on the total amount that is being borrowed.

      B) You can use your savings, 401k, IRA or borrow from relatives.

      C) You may have established a relationship with a private investor that believes in your business, and willing take the risk of helping you financially.

      Note: The funding source will not take a 100% of the risk. Why: If you don’t pay the loan back you have nothing to loose.

      Enjoying the preview?
      Page 1 of 1