There are only so many times you can go back

When considering their financing options our client tends to try their bank first only to end up frustrated and no further along. It's not their fault. Given the way banks are structured

Commercial borrowers frustrated by process

Two calls in a row this week have come in from borrowers that feel very frustrated with the lack of service being given to them from other lenders and other brokers. It would appear that the amount of financing they are seeking is too small for a corporate banker to review and too large or complicated for a bank branch to review. One client advised that they had a residential mortgage broker looking to get them financing

Two businesses, same challenge

We were approached recently by two businesses that were looking to restructure their existing financing to save interest and improve cash flow. In one case a business had used unsecured debt to finance renovations to his business properties resulting in double digit interest rates. In the other case, a business owner with substantial net income has an opportunity to purchase another business property and his bank can't seem to understand the various parts of his existing business. Both businesses were not able to talk to their bank about their situations and we were able to understand their need and get them the options that made sense. If you want to discuss your situation, please send me an email at dylan@bridgecap.ca or visit www.bridgecap.ca/dylan