Current Home Lending Info Blog for Southern Nevada

Now that we have introduced our commercial company, Commercial Capital Group, Inc., it is now time to go into some of the programs that have given us some of our best response.  One of our most popular programs is our Unsecured Business Lines Of Credit.  Now, with this loan, there has been many lenders out there that have advertised this product, letting you know that it what was one of the best ways to get a substantial amount of money in a short amount of time.

Doing this loan for over two years, and working at one point on over 45 deals per month of this Unsecured Business Line Of Credit (UBLOC), I can tell you that we had, in the past, advertised this loan program for loan amounts ranging up to $300K to $500,000.  The requirements for this type of financing were very loose, in most cases only requiring that  you carry a 680 to 700 credit score, and have a two year history on an LLC or Corporation for two years.  

We had established a business that would get you an established corporation that was two years old, and we would put the corporation in your name, and as long as you had the credit scores above 700, we were funding $200-$300K on average for these clients.

However, this did not last long.  With the banks that were supplying us with these loans taking a large hit in the residential realm, and then getting blind-sided by the defaulting Commercial Construction/Development Loans right after, it caused a huge scare for these banks that were playing the lending industry very loose.  Needless to say, most of these banks discontinued their Unsecured Stated Business Lines of Credit, and has been for the past two years...Until NOW!! 

As one of our flagship products that our branch really started becoming known for and built huge credibility for ACTUALLY closing these deals, we wanted to make sure that we were not going to get started with another company like the ones that are still out there now marketing that they can get $300K, $400K, or even $500,000.  However, when you ask these companies to provide proof of recent closings, not one has yet been able to do so.  With this being true even two years ago, I had decided to give up on the UBLOC, and began focusing on other products.  If I could not get a credible product that I was happy to put my name on, I was not going to put it out there.  

About a year and a half ago, I was approached to create a new chapter (along with a few other specialists in different industries) of The LeTip Networking Group in my community.  I agreed, and became appointed as The President, and held a few other various fields simultaneously while we grew our chapter.  As we met each week, we continued to grow our chapter with new professionals, allowing us to have a full chapter of professionals and began to see new faces at our meetings and mixers.  Almost a full year into being in that chapter, we had a networking mixer where I had met a man who told me that he was an Account Executive for a company that solely focused on working with loan officers to help business owners and potential business owners obtain their Unsecured Business Line Of Credit Program that not only GUARANTEED a Minimum of $50,000 in lines of credit (However, he had mentioned that most clients were getting closer to $100K within the first couple of weeks), but also provided them a free Consultant for the next year to help in many beneficial matters that would help them utilize their lines of credit, obtain more credit lines, and increase their lines maximum credit limits.  Not only that, but they also set up your business credit, known typically as your Duns Score, and help you use your credit lines and your new business credit score to get the lines out of their name, and onto their business only, releasing their personal guarantee.

Well with my long, and eventually negative, experience that I had previously had with these types of loan programs, I had a very large level of skepticism with what it was that he was telling me.  In fact, even though I was still receiving 1-3 new business line of credit requests in my email and via phone every day from marketing that my team had done from over a year ago (which we still get incidentally, showing you that 3 years later, people are still seeing our old ads and calling us because others are not doing what they say they can), I was very hesitant to call him and set up time to speak with him further as I did not believe that there was anyone out there that can do these types of deals any more, it seemed to good to be true, and I did not want to associate myself with sub-par work. 

Eventually, he had talked me into meeting with his boss, so we set up a time, and I had met them at their office here in Las Vegas.  I was very shocked, to say the least.  First, they truly were only focused on the business lines of credit.  They have about 40-50 people working in their 8,000 square foot office space, and we walked through how each client was treated and what was needed from the client.  Ease of use is also something that I like to have.  Needless to say, after leaving the meeting I thought it was worth a shot.  I was just turning down these people who were still calling me every day, so i sent 5 people over there.  Within the first month, two of those clients proved not to be credit worthy, one was on the fence because of someone else saying that they could guarantee him $300,000, and the other two had great credit and signed the contract.  By the end of that first month, both clients received their minimum $50,000 and they were still getting more credit lines for them (eventually ending up at $80K+ and $97K+).  The other client who was hesistant did end up coming back to us, by the way, two months later after he had lost $2,000 to the other "company" and was ready to work with us.

I know this is quite a long blog, but I basically wanted to let those of interest know that I will be placing my commercial mortgage company website and pages on this site as well, and this program will have it's own page.  But, unlike all the other companies that just throw out four of five "facts" about what they are offering and a couple of guidelines of what you need to have, I wanted to show you where I have been and where we are going now so that you can see, for us, it is much more than just a deal, it is about providing quality products to my clients.  In fact, my clients are now receiving their $50K, and in many times they end up closer to $100,000.  That is just the beginning, not to mention the next year of consultation you will have that will grow your lines more and more, help grow the business, and build the business credit's reputation to allow you to remove the credit lines from being personally guaranteed (even though the don't show up on your personal credit) and into the business itself.

This is an unbelievable product, and it has been tested successfully by myself and my clients.  Commercial real estate and businesses are getting more difficult every day to finance, and this is a great way to take advantage of a resource that will put working capital in your pocket.

Call us today at 702-370-2116 for more info!

Thank you,

David J. Schwartz