Unique properties are not easily understood by traditional lenders. Winston Rowe & Associates, a national no upfront fee commercial finance firm has solutions for non-traditional financing for funeral home financing as well as commercial financing for other special purpose properties.
Prospective clients can contact Winston Rowe & Associates at 248-246-2243 or visit them on line at http://www.winstonrowe.com
Funeral homes, assisted living facilities, campgrounds and other special purpose properties represent one of the most difficult commercial loan situations which will be confronted by a business owner
Why Are Special Purpose Commercial Properties So Hard To Finance?
By definition special purpose properties are not similar to other commercial properties. This makes many lenders uncomfortable due to the likely difficulty of finding another owner for a unique commercial property should it be necessary due to a loan default.
For funeral homes and many other special purpose commercial properties, most of the business value is represented by non-real estate assets. With traditional commercial lenders that focus on commercial real estate loans, it is almost impossible to get a loan based on the real estate value and the business value.
For example, it is not uncommon to have a situation in which the real estate for a funeral home is valued at less than one million dollars while the overall business value is in excess of three million dollars.
Because commercial financing is so difficult to arrange for special purpose properties such as funeral homes, assisted living facilities and campgrounds, sellers of such properties are generally willing to provide substantial seller financing to assist the buyer in acquiring the business.
However, many traditional lenders do not recognize or accept seller financing as a means of reducing down payment requirements for special purpose properties.
Many lenders simply do not understand the business complexities associated with a special purpose property. As a result, it is not uncommon for these lenders to attach onerous and expensive requirements such as business plans and environmental reviews.
In most cases such lenders do not even want to make the business loan but will use undesirable loan requirements as a means of appearing to approve a loan when in fact they have disapproved the loan by adding commercial loan terms that they do not expect a commercial borrower to accept.
Winston Rowe & Associates Commercial Loan Solutions:
For a business borrower facing the situation described above, the highest priority should be to locate a non-traditional commercial finance firm like Winston Rowe & Associates that engages in the following commercial loan practices:
Does not charge upfront fees to process or underwrite you loan
Openly welcomes special purpose properties and routinely finances such properties
Provides commercial financing for both the business and real estate
Accepts substantial seller financing
Winston Rowe & Associates has an excellent knowledge based investor resource for commercial real estate valuation and market analysis located at:
http://www.winstonrowe.com/
Their professional staff is dedicated to streamlining the loan process and providing unsurpassed lines of communication.
Winston Rowe & Associates
31408 Harper Ave
Suite 147
Saint Clair Shores MI 48082
248-246-2243
Winston Rowe & Associates has no upfront free commercial loans in the following states.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming
