SBA Lending Increases 42%, Arctic Island Splashes Into Investor Pool
Positive news spreads across the commercial lending world as SBA announces their loan approvals and funding figures are up 42%, according to Biz Journal reports. Signaling risk guards are being let down for businesses, single entrepreneurs and even commercial property 'flippers'. Small businesses generally respond to changes in economic conditions more expediently than larger businesses do, usually a telltale sign of employment forthcoming as well.
Thomson Reuters/PayNet Small Business Lending Index helps forecast lending criteria of the future while introducing new investor channels along the way. The newest aboard the lending rollercoaster is Arctic Island, the lending solution which bring investors and businesses together on one dynamic, interactive platform while driving down the costs of lending. In pre-launch stages, the San Francisco based lending firm should easily assist those interested in the growing commercial property marketplace.
While choosing lending sources seems rather rudimentary for most, the commercial lending field is slightly trickier. Until Arctic Island unveils their massive lending platform, here's how choosing a lender actually happens when commercial property lending applications are filled out:
Choosing a Lender
Many previously opted to work with reputable mortgage brokers who come highly recommended. They will have a variety of lending institutions that they work with and will give you a number of choices that could work for your particular acquisition. It is best to let them know if you’re planning to work with other brokers and ask that they submit a list to you of the lenders they are planning on going to so there is no duplicity among the brokers you’re using. It’s best not to use more than a couple brokers at a time on a property so that they don’t step on each other with contacting the same lenders and create a lack of motivation due to excess competition.Continued on the next page