Conventional loans are a great resource for many entrepreneurs. These loans offer competitive rates and can close quickly. GRP Capital facilitated a very fast closing for a commercial real estate loan in Ohio. The building was being used for an early childhood center. GRP Capital Managing Director Krishan Patel worked closely with our clients, along with our processing team. Our efforts succeeded in getting the loan quickly from letter of intent to signed and funded. The clients were very pleased with our efforts. They had specifically sought out GRP Capital after a positive experience on a previous loan closing.
When A Conventional Loan is the Right Choice:
• Experienced borrowers: Unlike other government guaranteed loans, a conventional lender prefers experienced buyers. Our clients fit the bill perfectly. Specifically, they were incredibly organized and responded quickly and efficiently to all of our requests for documents and information.
• Larger variety of lenders: The partners on this transaction live all over the United States. Nevertheless, their partnership group selected this Ohio property for its revenue potential. They quickly made an offer on the property. Then they were ready to close a loan quickly. Because this was a conventional loan, GRP Capital could reach out to our network of lenders. We focused specifically on regional lenders. As a result, we could target only those lenders we knew were looking for this type of loan.
Krishan Patel upon closing this loan stated, “Closing this loan was very important to our clients. The four partners were in four different cities, and one of them even had a baby in the middle of closing. We arranged for mobile notaries, who were even ready to get signatures at the hospital! The clients appreciated the team effort.”
Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.
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