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Just Elementary, Inc. » Entries tagged with "Banks"

SBA Express Loans under $250,000 Easier to Get

SBA Express Loans under $250,000 Easier to Get

A great article in the LA Times points out that the SBA loan programs is getting some needed modifications.  We’ll specifically cover the smaller ‘Express’ Loans. ‘Express Loans’ is a term that describes SBA loans that are up to $250,000 in value.  Express loans have been historically hard to get for a couple of reasons.  Number 1, there is not a huge profit margin to them for a bank, and number 2, the bank had 50% … Read entire article »

Filed under: Business Tips, SBA

RIOAC 10-18-10: JP Morgan Chase

Today was another of the Nick Lieberman interview series.  The guest speaker was Scott Schweer of JP Morgan Chase bank.  Schweer heads up a team that specializes in loans to Multi Family Investment Properties, mainly apartment complexes.  More on Mr. Schweer in a bit, but there were a few interesting takeaways.  Number 1, the financial qualifications of the borrower are taking a greater importance in the underwriting process.  We’ve seen this across the board with banks for all types of acquisition loans (Businesses [SBA 7A], commercial properties [SBA 504], and Multi Family Investment Properties).   Number 2, loan transactions are up significantly in 2010 compared to 2009.  In particular, the stabilization of the rental market in most parts of California are one reason Schweer’s group is doing increased business in … Read entire article »

Filed under: SBA

Buy a Low Basis (Distressed Assets)

You want to Buy low, so You can be like the Cowboy on the Right and Ride the Market Up to Sell High. And YES, This is the Market to BUY BUY BUY. If you are a CASH buyer with good credit and a solid track record then banks will talk to you.  Banks are sitting on a LOT of Distressed Assets in their portfolio.  They need to get rid of them as quickly as possible, at about the same speed we want to get rid of migraines. All Types of Assets from Commercial Real Estate, Residential Investment Properties to Small Businesses are available  If you have the CASH.  Banks want to talk to you.  Of course, they want it to be a quick conversation, along the lines of: Bank: “Mr. Buyer, … Read entire article »

Filed under: Business Tips