Getting a car wash loan closed can be complicated and filled with technical landmines. Common issues include value, environmental problems, title, reported cash flow, age of equipment, deferred maintenance, etc. If borrowers do not understand the potential issues they leave themselves at the mercy of banks and their loan officers, which often results in wasted […]
As you are likely aware the SBA changed their “passive income” rules a few years ago making self storage eligible for Small Business Administration loans. The change had a lot of media buzz and many people, both bankers and borrowers, were excited about the possibility of using this type of financing, primarily because of the […]
The Small Business Administration (SBA) in conjunction with the NAICS (North American Industry Classification System) recently came out with their loan performance report. The report measures the historical loan performance of SBA loans (both 7a and 504) within each business type throughout the nation. It measures the level of SBA loan failures (default) and loan […]
Please find recent article regarding restructuring your debt to increase cash flow. Here it is: The Potential Benefits of Restructuring Your Self Storage Debt.
Many assisted living facilities get financed via the Fannie Mae or HUD loan programs. However, not all borrowers and or locations qualify for this type of financing as there are several restrictions with them. Memory care facilities that focus on patents with Alzheimer’s and Dementia are the most difficult projects to finance because of this. […]
Please see article that I just had published in Auto Laundry News. Car Wash Financing Update. Hope you find it informative!
2 years ago it was hard, if not impossible to get a car wash project financed. Banks turned their noses at this building type, worried about liquidation values and demand for customer use. Consumer spending was down and banks didn’t want to get involved. Borrowers that had a little “hair” on their deal, like a […]
Pleased to announce a recent article that I wrote was published in CCIM’s magazine. The article was dubbed “Follow The Money”. It’s regarding why the next 12 to 18 months should play out to be a solid time to buy commercial real estate for both owner users and investors, especially when you focus on property […]
There are two basic programs: 1. is SBA financing via the 7a or 504 programs and 2. would be conventional loans. A lot of borrowers remain in the dark regarding SBA financing and how it pertains to the storage business. The rules with how the SBA classifies “passive income” were changed in 2011, thus making […]
Inc. recently came out with an interesting article regarding the return of home equity loans and how a lot of small business owners use those for funding their businesses, especially during the start up phases. Before you as a small business owner use the equity in your home to finance business operations, you should be […]