OK, I admit it. I’m an Olympics Junkie. As ashamed as I am to admit it, I even occasionally tuned in to the Curling competition. Not that I could understand the scoring in that most obscure of sports! All I knew was that it was the Olympics and I wanted to see Olympians. And how about that hockey game??? What a way to end the 16 days of competition. Too bad the Americans seemed to fade in week 2, but then we were generally not a major force in winter competition until recently. Lots of really good stories and competition this year, I loved it.
“Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man’s training begins, it is probably the last lesson that he learns thoroughly.”
– Thomas H. Huxley
Like the Olympics, I’m seeing activity increase of late. We are looking at more “non-traditional” deals than I’ve thought possible. We’re getting involved in portfolio purchases of loans and REOs, as well as bridge loans on some large projects. It’s going to be a very interesting year as traditional lending sources sit this one out and alternative lenders step in to meet the needs of the marketplace. Check out our website in the near future on new lending product offerings to help you get deals closed.
Commercial Lending Tip:
The Year of the Non-Traditional Lender. As I mentioned in the preceding paragraph I believe that 2010 will be a year in which the banks sit on the sidelines. Everything I see and hear tells me that they are getting OUT of commercial loans as quickly as possible. This means there will be opportunities to make deals at hedge funds, private lenders, and other “opportunistic” capital providers. However, the transactions they accept will have to undergo significant “stress testing.” They will probably be cash flowing properties, have a significant tenant, or possess some unique market advantage to be funded. Right now it is survival of the fittest, but that’s what I’m trying to make you: Fit to survive!
“I know of no more encouraging fact than the unquestioned ability of a man to elevate his life by conscious endeavor.”
– Henry David Thoreau
We will be offering new products in the form of: Securities Lending (not to be confused with margin loans), Revolving Lines of Credit for businesses, Equipment Loans, Portfolio Purchases of REOs and performing/non-performing loans, and Bridge Loans, so check back frequently at www.ExcelsionBrokers.com for updates.
