Studies have shown that only 1% of commercial loan borrowers are able to get the kind of financing they really want, while only 10% are approved for any type of loan. Many just end up getting whatever they can. There are many reasons for this, but it usually comes down to one thing... inexperience.
Most borrowers rarely seek loans and don't know where to begin. By contrast, CFA handles hundreds of loan requests every month. We know how to professionally prepare a loan request, approach lenders who are most interested in the loan, and tell your story in bankers language. Below are some of major services we provide in order to reach a favorable conclusion for your specific loan request.
The loan application process begins by determining the loan amount, the use of proceeds and the resulting type of loan that is best for the situation.
Many loan applications are declined simply because:
Negotiating For You
Bankers have their own language, which places most borrowers at a real dis-adavantage. This often results in borrowers actually frustrating the loan officers and perhaps making mistakes that lead to a loan decline. CFA acts are your spokesperson in most situations and will also coach/counsel you to handle the interviews.
Throughout the process, CFA will negotiate all terms and borrower requests. Actually, we think of it as more of a collaboration rather than a negotiation.
Lenders are in the business to make loans and they want satisfied customers. At the same time, many of their rates and terms are determined in a vacuum, with the focus on satisifying their own goals. CFA balances this perspective through our knowledge of current market conditions and we communicate with lenders in the language they understand. Our objective and often the end result is the most reasonable outcome for your loan request
Bankers receive large numbers of loan requests weekly and have little time or interest in helping borrowers package their loans. Since most borrowers have limited experience in applying for loans, they rarely know where to begin.
When completing forms, numerous mistakes are made. CFA knows what loan documents are needed for any loan type.
We help organize documents, complete forms accurately and package your loan request in a way that is professional and appropriate. Our purpose is to help you "put your best foot forward".
We have the Lenders
We are able to contact more lenders in a single day than most borrowers can contact in weeks, or perhaps months. Through our experience and expertise we are able to to achieve the fastest results.
These are the main reasons for our success:
CFA's underwriting process is designed to help us predict the likely outcome of a loan at the time it is first given to us.
Then, even before a request is submitted to lenders, CFA determines its strengths and weaknesses. in order to advise on the best way to proceed.
In fact, if the loan request represents unusual risk, we will work directly with the lender/s to determine ways to mitigate risk and enable approval for loan.
Exceptional loan design is yet another way that we at Commercial Finance America work our "magic".
CFA presents clients to lenders in the best possible light, and will never misrepresent or falsify a borrower to a lender.
The majority of borrowers, on the other hand, have not properly packaged their loan application.
Bottom line, we know whether it is possible to take a poorly designed application , or even a previous loan decline, and turn it into a bankable loan. If you are interested, we can cite countless examples.