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Old 13th January 2010, 11:04 AM   #1
Raise Capital
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I was wondering if everyone had time to sit down with your banker about this years expectations. I have two stores on hold for development due to banks are not lending to commercial developers. They are only lending to purchase existing homes not new construction. When do you think this will turn around based on what you are hearing?

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Old 19th January 2010, 04:59 PM   #2
phanio
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To be honest, I think you might have some time to wait. While there is a lot of media attention regarding home loans - there hasn't been much attention on the commercial side of this industry. But, this side has taken just as big a hit as the home loan side - just not getting the attention and thus not getting the bailouts. Politicians don't care about developers - just not enough votes - home owners - especially those that can't afford a home on their own - are the big voting group they are after.

Therefore, it will lag the turn around in home loans by at least 6 to 9 months and the home loan turn around, while picking up, is just not here yet.

You might think about other options. If you are doing large volume - you could look into GE Capital or CIT.

Or, find private investors who deal in the commercial real estate side of things. There are many of these investors out there. Just know that they will charge higher rates than banks and require larger equity on the borrower's parts - meaning lower LTVs.

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