“I think 2010 will be noted as the turning point for commercial lending after the financial market collapse that began in fall 2007 and resulted in little commercial lending for the most part of two years,” according to Michael D. Sneden, Executive Vice President at ValueXpress. In 2010, a boost to … [Read more...] about 12.31.10: 2010 Highlights in Commercial Lending
Archives for December 2010
The Business Council of Westchester County, NY has announced that Michael D. Sneden, Executive Vice President at ValueXpress, will be the keynote speaker at its Business After Business social networking event beginning at 4:30 pm, Thursday, January 20, 2011 at the Crown Plaza Hotel on Hale Avenue in … [Read more...] about 12.27.10: Michael Sneden Keynote Speaker at January 20th Business After Business Social Networking Event
Another potential lift in SBA lending may arise from a provision in the Jobs Act that allows for the refinancing of loans using the SBA 504 program. Prior to the legislation, projects were ineligible to utilize the SBA 504 program for refinancing; now the program can be used for refinancing 504 … [Read more...] about 12.21.10: Will Refinancing of SBA 504 Loans Take Off?
The deadline for SBA 7(a) loan submissions under the Small Business Jobs Act of 2010 for non-Preferred Lenders Program (PLP) lenders was 11:00 p.m. EST on December 15, 2010 for lenders using E-Tran. In what seems par for the course, ValueXpress and its partner banks -- Country Bank based in New York … [Read more...] about 12.17.10: ValueXpress Processes $15-Million in SBA 7(a) Loans Before Cutoff
Commercial Mortgage Alert reports that Goldman Sachs and Citigroup have priced an $875.5-million CMBS transaction backed by commercial mortgages they recently originated. GS Mortgage Securities Trust, 2010-C2 will likely be the last multi-borrower transaction for 2010. The issue has a heavy … [Read more...] about 12.16.10: Goldman Sachs and Citigroup Price $876.5-Million CMBS Offering
SBA loan guidelines were changed recently to allow self-storage, mini-storage and mini-warehouse businesses as an eligible business type. Previously self-storage facilities were only eligible if more than 50% of the business revenue came from sources other than monthly rents. The new SBA guidelines … [Read more...] about 12.7.10: Self-Storage Presents an SBA Lending Opportunity