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FAQ'S
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Commercial Finance Advisors provides commercial real estate loans for business owners and commercial real estate investors. To find out if our services are a match for your financing needs, please read below or contact us directly. 248 885-8797.
Where do you lend?
We do commercial loans in Michigan and throughout the nation. Our three main goals in any transaction are to:
Banks are constrained by loan products and underwriting guidelines that don't necessarily fit the borrower's needs. The bank's loan officers have strict incentives to maximize profits while pushing as much of the risk as possible onto the borrower. Banks also force borrowers through a variety of hoops and typically provide limited assistance managing transaction workflow. Our approach is different. Our responsibility is to you, the borrower. Since we are not limited to working with any one bank, we are able to present your loan to a broad spectrum of capital sources (we work with over 90 lenders, private money, banks, etc.) and secure the best terms and pricing that the market can offer. Equally important, we handle the back-end time consuming work - processing, paperwork collection and ordering/coordinating all third party reports (appraisal, title, survey, etc) to ensure a smooth closing. What is the Right to Offset mean? What are its ramifications?The Right to Offset is a loan term that virtually all banks require in their loan agreements. It gives banks the right to take money out of your checking and or savings account and pull money out at their discretion. It provides additional collateral/security to the bank should issues come up. An occurrence of this is if your business is having cashflow issues and the bank gets nervous that you may fail to make your next payments - they can enter your account and pull your money out to offset/pay the bill, without your approval. This can create serious problems for the business owner. What is a Call Provision?Call provision is another negative term that is included in traditional bank loan agreements. It gives banks the right to "Call" meaning balloon your loan regardless of the fixed period on your loan or if you are current with your monthly mortgage payments. In Metro Detroit we are witnessing this more and more as local banks want "out" of businesses that are automotive related. What are Commercial Finance Advisors loan minimums/maximums?Every situation is different, but we typically work on “small balance” loans i.e. $400,000 - $5,000,000. We handle purchase, refinance, cash out refinance. With regards to bridge loans or private money loans, the loan range is between $400,000 - $20 million. Do we end up paying more by working with Commercial Finance Advisors?No. We typically charge one percent fee of the loan amount depending on the loan size and complexity of the transaction. These are typically market fees. In most cases, the fee can be “rolled” into the loan and normally replaces bank orgination fees. Because we absorb the cost of originating loans for the lender/bank, we are able to negotiate direct pricing with most lending sources. As a result, borrowers typically save or incur no additional costs by engaging us to source, negotiate and manage their transaction. In addition, we save our clients time and money by creating a competitive environment that forces the market to compete for the borrower's business. Ultimately, clients get all the cost benefits of a more effectively managed transaction without having to accept exorbitant spreads or large loan fees. Who are our typical lending sources?We work with over 90 local and national capital sources. Our goal at Commercial Finance Advisors is to add value to our customer’s transactions by offering a wide range of financing alternatives and options for their specific deals. Whether you need to refinance an existing commercial property or need acquisition financing - we can help you structure the commercial real estate loan that meets your specific needs. Make Commercial Finance Advisors a part of your team. Submit your confidential loan request for a quick review, or call us direct at 248 885-8797.
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