A Commercial Lender is Not a Commercial Lender When it is a BankA commercial lender offers loans backed by hard collateral, usually real estate. Usually a commercial lender’s lending criteria will be less stringent than at the local bank. This is because most banks focus on providing private residential financing for individuals of the local community, not large amount loans for real estate or commercial property acquisition. Most commercial lenders are not so much concerned with the borrower’s financial record and qualifications as they are about the mortgage property value.Unlike most banks, commercial lenders are able to provide a loan in a short amount of time-usually within several weeks depending on the mortgage terms. Commercial lenders also offer a wide variety of loan products. Perhaps the most popular of these products is the bridge loan. Bridge loans are most often used to take advantage of time sensitive real estate opportunities or to avoid foreclosure.A Commercial Lender is Not a Commercial Lender When it is a Commercial BrokerSometimes a commercial broker will pose as a commercial lender. The difference between the two is that a commercial lender actually provides money, while a commercial broker provides a convenient way for borrowers to find lenders. In most cases where a broker is used, there is no direct contact between the borrower and commercial lender. Indeed, from the broker’s perspective, this would be a bad thing since they profit considerably from middleman fees charged to the borrower. So why are commercial brokers in business? By and large they are much more effective at advertising to potential borrowers than commercial lenders. Commercial brokers also provide the infrastructure necessary to carry out loan transactions. However, with more and more business being done over the internet, their chief value-add is their knowledge of, and access to, a long list of commercial lenders.With more commercial lenders marketing themselves all the time, the value of brokers may diminish significantly in the near future. There are several significant advantages to having direct access to a commercial lender: 1) No broker fees, 2) Timely answers. Direct communication equals direct answers to your questions. A commercial lender either can, or cannot provide you with a loan-there’s no incentive for them to waste time trying to figure out if you qualify or not. A broker, on the other hand, will often times spend considerable time finding what deal is best for them by going from direct lender to direct lender. If a commercial lender can’t help you, they will be able to tell you what other lender can. 3) Timely closings. By working directly with your lender, issues can be resolved, questions answered, and loans closed. Loans options not offered through a broker may be available by going directly to a commercial lender.What’s the Trade-Off of Using a Commercial Lender?Because of the quick turn around and conveyance provided by bridge loans and other high-risk commercial lender loan products, rates can be higher than at a bank. If you have the time and the financial qualifications, you might be best served at your local bank. However, commercial lenders are a great option for people with ‘near-bank’ loans, in other words, loans that were almost approved by the bank. With so many potential lenders available, it may seem a little daunting to find an option that works for you. Many times the only significant factor that sets two commercial lenders apart is the quality of their customer service. Traditionally, the commercial loan market is notorious for being short on professionalism. Find a lender who is willing to take the time you need to understand the details of your loan.
When is a Commercial Lender not a Commercial Lender?
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Facts About Indian Furniture
World over, Indian furniture are hugely admired not only for the craftsmanship associated with them but also for their durability. In fact, Indian wooden furniture has gained worldwide admiration as they have been able to withstand the tests of time and have retained their quality even after decades of use. It thus comes as no surprises when it’s noticed that foreign importers are making a beeline to buy sheesham furniture.Whether it’s for the upholstery of your living room, or for enhancing the décor of your house, wooden furniture made in India is replete with an exhaustive range of options and the buyer is often spoilt for choice.Of late,rosewood furniture s being considered to be one of the most admired and used furniture all across the western world. One of the main reasons that can be attributed to this growth in popularity is the phenomenon of globalization, which today, enables anyone from any corner of the world to buy Indian wooden furniture. No wonder that not only Indians themselves, but items manufactured in India as well, are truly becoming global citizens.While jodhpur furniture is mostly admired for their strength, beauty and the ambience that they create, it’s also pertinent for a buyer to be aware of some of the facts about Indian wooden furniture. Below are a few of them.Not every piece of Indian furniture is antiqueIndiais a land that has a rich cultural heritage and several of its arts and artifacts date back thousands of years. Akin to all antiques, century-old furniture is very expensive and undeniably more precious than other furniture. However, keep in mind that all Indian furniture is not antique. The Indian furnishing industry is similar to any other industry where goods are produced on a daily basis and are sold as a common commodity in the open markets. If you believe that a particular piece of furniture doesn’t look antique, it’s unlikely to be so. You must seek expert opinion as regards the age of the furniture.Not every wooden furniture are over expensiveAs already said, the Indian wooden furniture industry is like similar to any other and there are several items that cater to all pockets and budgets. Whether you are scouring for furniture to enhance the interior looks of your home, or a collector who is a connoisseur of antiques, you’ll find everything in the Indian furniture market. You simply need to know the right places to search.Not all Indian furniture are importedWith more number of companies establishing a global identity, there are numerous Indian wooden furniture manufacturers who are making their presence felt on foreign shores. Many companies manufacture Indian furniture abroad by hiring Indian craftsmen and designers. This alleviates the need to pay a hefty on imports. Besides, one can also book furniture from the comforts of his home via the internet.You can be rest assured to lay your hands on your desired piece of Indian furniture if you can keep the above things in mind.