loans: Is your Atlanta-area client having a hard time finding a bank to handle construction-perm financing?
- 03/13/09 03:26 AM
I've spent at least 15 of my 21 years as a community banker handling deals most bankers shy away from: Owner-occupied residential construction-perms. These transactions demand significant "teaching time" on the part of the banker for even the most sophisticated borrowers. Some of the topics I'm able and willing to cover in great detail with your client are: Hiring a reputable general contractor, The necessity of having adequate cash reserves to fund inevitable cost overruns, County and municipal permitting, Explaining how the progress draw process works, Locating suitable, buildable land, Pros & cons of onsite sanitary sewerage (septic systems), Ins & outs of municipal building code & … (0 comments)
loans: Good news from a banker! Clark Blackwell, Commercial Lender in Woodstock, GA
- 02/25/09 03:59 AM
As I watched last night's presidential address to Congress, I couldn't help raising an eyebrow when President Obama made the statement, "Banks are afraid to lend right now, even to each other. Banks are afraid to do even a car loan." Our Commander-in-Chief should have qualified that statement by putting "Mega" in front of "Banks". As recently acknowledged by almost everyone, community banks participated very little (if at all) in the house of cards that was the securitized mortgage market. Though there's plenty of uncertainty & thinly-disguised fear among myself and my friends who are community bankers, we're still in business … (0 comments)
I've spent at least 15 of my 21 years as a community banker handling deals most bankers shy away from: Owner-occupied residential construction-perms. These transactions demand significant "teaching time" on the part of the banker for even the most sophisticated borrowers. Some of the topics I'm able and willing to cover in great detail with your client are:;)
;)
