In the current economic climate that we are witnessing at present Commercial Finance is more difficult to obtain now more than ever. Many clients have properties with large amounts of equity and no borrowings, however they are unable to raise any finance on them due to the current banking crisis.
Kevin Keane of Keane Finance Brokers says “while finance is more difficult to obtain now more than ever it is still possible to obtain finance for good projects in good locations. We have a number of lenders who will look at all levels of commercial finance from €3m upwards to €500m. They do seem a bit choosier than before, but if the deal stacks up a good loan facility can be obtained”
The countries that these lending institutions cover are in Western Europe, Asia, and the United States. However, no country is ruled out if the deal is a blue chip deal.
“Location, quality of tenant and a good lease are the 3 min ingredients for investment properties. For development lands, low LTV and location are the main criteria. However, we have had some deals recently which could possibly be financed that we would not expected to achieved any interest at all” says Keane.
Keane acknowledges that this affects people from all over the country and all walks of life – People caught up in the 2005-2006 foreign investment euphoria are as likely to be sitting beside you in mass as meeting with the big bankers in Dublin – Trapped by equity tied up, negative equity- - let’s talk
To find out more and to discuss a commercial finance requirement that you may have contact Kevin Keane of Keane Finance Brokers. They have over 10 year experience in commercial lending and are currently sourcing funding for their clients. Phone 00353 91 395888 or info@kfb.ie
http://www.keanefinancebrokers.com
