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Will You Add? - Commercial Loan Difficulties - Solutions for Auto Services Properties
Sure, we've all had those days. You head for work in a foul mood, dreading another eight hours of monotony and tedium. There's nowhere to go within the company and your boss is no help, so you fight the urge to tell off your manager and quit on the spot, just like in that old Johnny Paycheck song.Ever wonder, however, if it's not the job, but your perspective?For many people, getting stuck in a rut on their career path is a common occurrence. Lacking goals, motivation, or an ability to shake loose the ties that bind them, many workers
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
The Three Pillars of Corporate Performance Management for the Insurance Sector "Change" is the watchword for the insurance sector. Increasing customer churn and pressure on premiums are eroding profitability, highlighting the need for significant cost reductions in the areas of customer acquisition and service. This threatens the traditional operating model as organizations re-evaluate current routes to market and redesign internal processes in the never-ending search for greater efficiency. Faced with the need for chan
There are many businesses falling into the auto services category, and they generally involve activities that include automobile body repairing and painting. These properties are viewed as riskier loans by most traditional lenders. As a prime example of how non-traditional commercial lenders look at difficult commercial loan situations differently, auto services properties have been moved to a less risky underwriting category by several of these lenders. Because of this, it will usually be beneficial for owners of auto services businesses to work with a non-traditional lender because of the better commercial financing terms.
COMMERCIAL LOAN DIFFICULTY: ENVIRONMENTAL DIFFICULTIES?
There are unique environmental issues for auto services properties that frequently produce difficulties in obtaining a commercial real estate loan from a traditional commercial lender. Properties involving environmental issues will often be politely declined by a traditional commercial lender. Auto services and related businesses are frequently mistreated in this manner. If such commercial mortgages are not declined outright, then typically a Phase I/II environmental report will be required (which can easily add $15,000 to $20,000 or more to the cost of the loan if a Phase II report is needed). The commercial borrower could end up paying this entire cost even if the report produces findings that result in commercial loan disapproval. If the cost for a Phase I/II environmental report wasn't already a sufficiently negative issue, this requirement also adds substantial time to the commercial loan process. As a practical time-saving and cost reduction strategy for addressing this unique but solvable problem, an environmental insurance fee can be used to meet the special commercial loan needs of environmentally-sensitive properties (thus frequently avoiding the need for Phase I/II environmental reports). Using this strategy, a non-traditional lender can usually get an environmental approval in 5-7 days.
COMMERCIAL LOAN DIFFICULTY: SHORT-TERM FINANCING?
One of the primary underlying reasons for a high failure rate among many auto services businesses is directly due to the commercial borrower being forced into short-term commercial financing when long-term commercial financing is essential to the health of the business investment. Businesses should not be financed with short-term funds. It is essential to obtain long-term commercial financing of at least 15-20 years (and longer is even better). For most auto services businesses, long-term commercial financing is likely to be available only from a non-traditional commercial lender.
COMMERCIAL LOAN DIFFICULTY: BUSINESS CASH ADVANCES FOR IMMEDIATE WORKING CAPITAL?
As noted above, traditional lenders are frequently reluctant to provide long-term commercial financing to an auto services business. However, some financing needs can be handled effectively with shorter-term commercial financing strategies. A retail auto services business will usually benefit from using credit card receivables to convert future cash flow into immediate working capital (usually up to $300,000). This solution should be actively evaluated by owners and prospective owners of auto services businesses.
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
A dynamite speech is built upon a strong foundation of form and structure. I call this the architecture of the speech. Without the proper form and structure – the right elements organized in the right order – your speech may collapse in on you while you’re standing there in front of your audience. Maybe that’s already happened to you and you don’t want it to happen again.Step One of the 21 Steps of the Dynamite Speech System is Define Your Core Message. Before you start choosing stories and making PowerPoint sli
There are unique environmental issues for auto services properties that frequently produce difficulties in obtaining a commercial real estate loan from a traditional commercial lender. Properties involving environmental issues will often be politely declined by a traditional commercial lender. Auto services and related businesses are frequently mistreated in this manner. If such commercial mortgages are not declined outright, then typically a Phase I/II environmental report will be required (which can easily add $15,000 to $20,000 or more to the cost of the loan if a Phase II report is needed). The commercial borrower could end up paying this entire cost even if the report produces findings that result in commercial loan disapproval. If the cost for a Phase I/II environmental report wasn't already a sufficiently negative issue, this requirement also adds substantial time to the commercial loan process. As a practical time-saving and cost reduction strategy for addressing this unique but solvable problem, an environmental insurance fee can be used to meet the special commercial loan needs of environmentally-sensitive properties (thus frequently avoiding the need for Phase I/II environmental reports). Using this strategy, a non-traditional lender can usually get an environmental approval in 5-7 days.
COMMERCIAL LOAN DIFFICULTY: SHORT-TERM FINANCING?
One of the primary underlying reasons for a high failure rate among many auto services businesses is directly due to the commercial borrower being forced into short-term commercial financing when long-term commercial financing is essential to the health of the business investment. Businesses should not be financed with short-term funds. It is essential to obtain long-term commercial financing of at least 15-20 years (and longer is even better). For most auto services businesses, long-term commercial financing is likely to be available only from a non-traditional commercial lender.
COMMERCIAL LOAN DIFFICULTY: BUSINESS CASH ADVANCES FOR IMMEDIATE WORKING CAPITAL?
As noted above, traditional lenders are frequently reluctant to provide long-term commercial financing to an auto services business. However, some financing needs can be handled effectively with shorter-term commercial financing strategies. A retail auto services business will usually benefit from using credit card receivables to convert future cash flow into immediate working capital (usually up to $300,000). This solution should be actively evaluated by owners and prospective owners of auto services businesses.
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
Want a real ego boost? Then make yourself unnecessary. Your business will be more valuable if you can get it to the point that it grows in your absence. Like parenting, where imparting the tools your kids need to be happy, productive members of society is an accomplishment, getting your business to run on its own warrants bragging rights. The more dispensable you are to your business, the more valuable it’ll be when you are ready to exit.Some businesses cannot survive without their owner. Highly specialized or emotional occupations like
COMMERCIAL LOAN DIFFICULTY: SHORT-TERM FINANCING?
One of the primary underlying reasons for a high failure rate among many auto services businesses is directly due to the commercial borrower being forced into short-term commercial financing when long-term commercial financing is essential to the health of the business investment. Businesses should not be financed with short-term funds. It is essential to obtain long-term commercial financing of at least 15-20 years (and longer is even better). For most auto services businesses, long-term commercial financing is likely to be available only from a non-traditional commercial lender.
COMMERCIAL LOAN DIFFICULTY: BUSINESS CASH ADVANCES FOR IMMEDIATE WORKING CAPITAL?
As noted above, traditional lenders are frequently reluctant to provide long-term commercial financing to an auto services business. However, some financing needs can be handled effectively with shorter-term commercial financing strategies. A retail auto services business will usually benefit from using credit card receivables to convert future cash flow into immediate working capital (usually up to $300,000). This solution should be actively evaluated by owners and prospective owners of auto services businesses.
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
Many small businesses are leaving money and new relationships on the table by not accepting credit cards or other forms of cashless transactions. Studies have shown that merchants can achieve 50% plus increases in sales by simply offering multiple payment options.How many times have you been sitting in traffic thinking about that new “toy” you want, but realize your short on cash this month. You arrive home, check the mail, and there is a new consumer credit card staring at you. We are an impulse society and want things now!Many in
COMMERCIAL LOAN DIFFICULTY: BUSINESS CASH ADVANCES FOR IMMEDIATE WORKING CAPITAL?
As noted above, traditional lenders are frequently reluctant to provide long-term commercial financing to an auto services business. However, some financing needs can be handled effectively with shorter-term commercial financing strategies. A retail auto services business will usually benefit from using credit card receivables to convert future cash flow into immediate working capital (usually up to $300,000). This solution should be actively evaluated by owners and prospective owners of auto services businesses.
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
In quality manufacturing, speed requires standardization. No wonder Six Sigma, Zero Defects and ISO Certification receive so much time and attention.But in quality service, doing something unusual or eccentric can create a powerful impact. In service, it can be quite acceptable to find and do your own thing.Here are just a few examples:A waiter at the Sugar Beach Resort in Mauritius comes to work each day with a thermometer in his pocket. On the way to the restaurant he takes the temperature of the ocean water and the swimming
COMMERCIAL LOAN SOLUTIONS FOR AUTO SERVICE PROPERTIES
For an auto service business borrower facing any or all of the situations described above, the highest priority should be to locate a non-traditional commercial lender that:
(1) Openly welcomes auto service properties and routinely finances such properties.
(2) Does not add special requirements to the business loan for auto service commercial properties.
(3) Has a history of making loans for the specific type of property under consideration.
(4) Can accommodate both small and large commercial loans for auto service properties.
(5) Can accommodate environmental issues with such practical solutions as environmental insurance.
(6) Can routinely provide 15-25 year financing for auto service businesses.
(7) Is capable of providing immediate working capital via a business cash advance based on future credit card receipts.
Copyright 2005-2006 AEX Commercial Financing Group, LLC. All Rights Reserved.
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