Too much confusion surrounding commercial loans
Commercial loans provide business opportunities to brokers but are often missed thanks to confusion about what a commercial loan according to Brian Rubins (pictured), director of Alternative.
This comes after recent reports suggest that commercial property finance saw a steep decline in 2016.
Rubins said: “Commercial loans tend to be larger transactions and brokers fish in a bigger pond where there is actually less competition.
“Commercial lenders advertise and promote their terms so it should be easy for a broker to learn who the most suitable lender for each transaction is.
“However, some lenders will say they lend but rarely do. Some smaller brokers can find packagers a helpful conduit but others will prefer to do the homework and control their own destiny.
“To get the best assistance from a lender, brokers need to identify how the process evolves. They need to gather appropriate information, present it in a concise manner, and respond to queries to efficiently close a deal.”